Employeesget paid every month on which most of the employers deduct TDS on it. Knowing tax calculation is important otherwise, you will never know if your employer is deducting more taxes from your salary. Your salary that you receive from your employer is taxed under the “Income from salari...
Who can get an Income Tax refund? In following cases, an individual or business entity can get a tax refund If you have paid advance taxes on the basis of self-assessment and have paid more amount than actual tax liability. If excess TDS has been deducted from your salary or bank deposit...
If you are unable to submit these forms, you can still claim a TDS refund at the time of filing your year-end tax returns. There are also some ways to save on tax on FDs. A post office FD is one way as it does not attract any TDS deduction. You can divide the amount and put ...
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 ...
When is one eligible to get Income tax refund? One is eligible for an income tax refund when Your TDS( tax deducted at source) from salary, interest on securities or debentures, dividends, etc. is higher than the tax payable by you. ...
TDS is deducted by the employer from salary but if you have sources of income like interest on deposits and your tax liability for the year exceeds Rs 10,000 after your employer has deducted the TDS then you have to pay Advance Tax. Senior citizen (age of 60 years or more) who is not...
It is also called “pay as you earn” tax since the payment is made as the salary is earned through the year. Advance tax can be paid offline or online.The Income Tax Department has authorised the branches of several banks to receive offline advance tax payments on behalf of the ...
Salary income as per Form 16 to be entered in B1 Other income like Interest to be entered in B3. 7) Click in “Tax Details” tab. In this tab you need to show the TDS deducted as well as Self assessment tax paid. Normally, The TDs deducted by Banks are automatically shown here. If...
TDS on EPF Withdrawal Rules Before jumping into know the process of submitting the Form 15G, let us first understand the rules related to TDS with respect to EPF withdrawal. I have already written a detailed post on this “EPF Withdrawal Taxation-New TDS (Tax Deducted at Source) Rules“. ...
Inoperative accounts linked to UAN (KYC not seeded) Members whose UAN is not KYC seeded should contact the relevant employer to get their KYC seeded. In the event that the establishment is closed, the member must physically visit the field office to obtain the KYC....