As is apparent from the above article, you have to pay TDS on FD interest income. If you are eligible for waivers on FD TDS, ensure that you submit the relevant 15G/H form at the beginning of your FD tenure. In doing so, the bank will not levy any tax on your interest income. I...
TDS Deductor 10th Day of the Next Month TCS Collector 10th Day of the Next Month Interest on Late Payment of GST Late payment of GST attracts interest charges as per the provisions of the GST law. Here’s a detailed look at how it works: 1. Interest Rate for Late Payment 18% Per ...
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In the Income Tax Act, 1961 few key rules have been framed that are related to the purchase and sale of immovable property. In the aforesaid transactions that come within the domain of Section 194-IA, the buyer (who is also called the deductor) has to deduct the TDS if the value of ...
TDS will be deducted on the basis of the deductee type, which has to be defined in the party ledger.Gateway of Tally > Create > type or select Ledger > and press Enter. Alternatively, press Alt+G (Go To) > Create Master > Ledger > and press Enter. Press F12 (Configure) and set ...
TDS/TCS deductor Online data access or retrieval service provider How to Register for GST? If you are looking for what is the GST Registration Process, here is your answer: Registration Process Go to theGST portaland tap ‘Services’ > ‘Registration’ > ‘New Registration.’ ...
If the buyer is going to deduct TDS while making the payment, then the transaction will be exempted from TCS. Further, when the buyer pays this TDS amount to the government, a challan no. will be issued. While filing TCS returns, you have to provide this challan no. and date against ...
Term Tax on Tax under GST Meaning of Tax Ledger under GST Tax invoice under GST What is Tax Implications under GST Tax Deductor under GST What is Tax Deduction at Source (TDS) under GST supply of services under GST What is Supply of Goods under GST ...
Employers often cover the costs of employees’ benefits and a portion of that might come from an employee’s gross wage. A company’s payroll system also needs to deduct Social Security and Medicare payments from an employee’s gross wages. On most payrolls, an employer’s payroll system will...
Information related to high-value transactions related to shares, mutual funds and so on Why is Tax Credits Form 26 AS Important? Below mentioned are the reasons why Form 26AS is pertinent: You shall be able to check whether the deductor has filled the TDS statement correctly or if the col...