TDS (Tax Deducted at Source) will not be applied to your FD interest income as long as the interest earned is Rs. 40,000 or less in a financial year. However, if your interest earnings exceed Rs. 40,000, TDS will be deducted at the current rate of 10% on the entire interest amount...
Reversal of TDS on invoice settlement when TDS is deducted separately on the invoice and the payment Per the Income Tax Act, TDS must be deducted on either the invoice or the payment (whichever occurs earlier). If TDS is accidentally deducted separately on both the invoice and the payment, ...
On theGeneraltab of theJournal voucherpage, view or modify the default TDS group defined for the vendor or customer, in theTDS groupfield. The TDS amount that's calculated on journal lines is based on the formula defined for the TDS tax codes listed in theTDS groupfield. ...
we have faced this problem 2 times while making tds payment today . Our 2 challan still pending for payment today was the last day of payment .please guide what to do. Error “you have exceeded the limit to invoke the service on this network. please try after 8 hours.” Reply veer say...
10. TDS and Advance Tax Salaried individuals witness Tax Deducted at Source (TDS) deductions monthly. This TDS aligns with your final tax liability. If it surpasses Rs. 10,000 for the fiscal year, Advance Tax payments may become necessary. ...
What is Form 24Q? At the time of paying salary to an employee, an employer deducts TDS (tax deducted at source) under section 192. The salary TDS return is filed in Form 24Q by the employer and is submitted on a quarterly basis. 24Q comprises of 2 annexures. ...
In the section, it is provided that if TDS is deducted on the transaction under any other section of the Income-tax Act (Other than TCS collected under section 206(c)(1H) of the act then TDS is not required to be deducted on the transaction. What if, the seller i...
Fill Form for ITR & TDS Compliance Software Guaranteed Offer for Tax Experts* What is the Purpose of a Salary-Linked Corporate Car Leasing Policy to Benefit Employees? It involves a vehicle ownership model where an employee chooses a car and their employer directly deducts the monthly lease rent...
is not relevant to decide the taxability of stipend income. We will have to analyze the purpose of the stipend on the basis of principles as discussed above. If it is ascertained that the stipend is taxable, then it should be offered for tax irrespective of whether TDS is deducted or not...
As perprovisions, the deductor (i.e., fund or trust) is liable to furnish all the details of TDS deducted via quarterly TDS statement/ return in Form 26Q. Furthermore, the deductor is also required to issue a TDS certificate to the deductee/ recipient on a quarterly...