The TDS rates are predecided by the Government under the Income Tax Act. In this blog, we share the Latest TDS rate chart for the Financial Year 2024-25 and Assessment Year 2025-26 to help you calculate and pay TDS error-free. TDS Rate Chart for FY 2024-25 Section Nature of Payment ...
Per the Income tax Act, 1961, income tax is deducted at the source by the receiver of the service at the time of advance payment or accounting of credit, whichever occurs first. The person who makes the payment must deduct the tax amount and pay only the net balance to the provider of...
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...
Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS by the person responsible for paying any sum to any resident for purchase of goods. The rate of TDS is kept very low at 0.1%. The tax is only require...
TDS will be reduced from any income that comes under the Income Tax Act. However, if you are an individual or a Hindu Undivided Family (HUF), then no TDS will be reduced and records will not be audited. Based on the applicable income tax slab rates, your employer will deduct Tax deduct...
Income tax expense (benefit) 41 10 53 (26) Income (loss) before income taxes (GAAP) nbsp; 83 nbsp; 52 nbsp; 111 nbsp; (509) Add back: Interest expense 91 (2) 196 (8) Depreciation, amortization and accretion expense 329 131 656 245 EBITDA (Non-GAAP)1 nbsp; 503 nbsp; 181...
NRI and ITR ,Income Tax Return Who is NRI? Non-Resident Indian or NRI under the Income Tax Act, 1961 (IT Act) is tied to number of days of an individual’s stay in India during a particular financial year. Residential status is determined for every year separately. India includes territo...
Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS by the person responsible for paying any sum to any resident for purchase of goods. The rate of TDS is kept very low at 0.1%. The tax is only require...
Per the Income tax Act, 1961, income tax is deducted at the source by the receiver of the service at the time of advance payment or accounting of credit, whichever occurs first. The person who makes the payment must deduct the tax amount and pay only the net balance to the provider of...