Verify TDS Deducted, Advance Tax Online before Income Tax return filing
Before filing the tax forms, you need to deposit the balance tax due and interest, if any. This amount is based on your tax liability for the year, after taking… Read more »
Tag: tax deducted at source
Surcharge on Income-tax
Surcharge on Income-tax is not deductible/collectible at source in case of individual/ HUF /Firm/ AOP / BOI/Domestic Company in respect of payment of income other than salary.
No Education Cess on payment made to resident
Education Cess is not deductible/collectible at source in case of resident Individual/HUF /Firm/ AOP/ BOI/ Domestic Company in respect of payment of income other than salary. Education Cess @ 2%… Read more »
Acceptance of e-TDS/TCS statements in Pen Drive
Submission of e-TDS/TCS statement has been enabled in Pen Drive in addition to the existing option of CD. Deductors /Collectors are advised to check the feasibility of acceptance of statement… Read more »
Higher Rate deductions liable for PANNOTAVBL Deductees
As per new provision of tax deduction at source (TDS) under the Income Tax Act 1961 effective from April 1, 2010, TDS at higher of the prescribed rate or 20%… Read more »
Yearly Limit u/s 194C
When the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be made u/s 194C.