on services that the government specifies, and the tax is deducted by using the rates that the government specifies for a period. The rate of deduction is based on the status of the entity that receives the payment or provides the service. Statuses includeIndividual,Hindu Undivided Family(HUF)...
When TDS deduction isn't required Base amount for GST TDS deduction Key features Set up GST TDS Scenario: GST TDS on payment to a vendor transaction Goods and Services Tax (GST) Tax Deducted at Source (TDS) is deducted on specific percentages of the amount that is paid or paya...
Can any one please let me know the entry TDS deduction on interest paid to customer. For me I tried A/R Interest calculation on Arrears configuration, and I run the interest calculation through F.2B then the system shows the below entry as mention: Interest Paid a/c DR 900 Customer a/c...
Calculate the Interest: Our Online TDS interest calculator will give exact Interest payable for user on TDS amount. The interest is calculated based on the number of days between the date of deduction and the date of payment, and the prevailing interest rate specified by the Income Tax Act. ...
What is the exemption limit for TDS deduction on an FD? The exemption limit for TDS deduction on an FD depends on your age and total taxable income: Individuals below 60 years:The exemption limit is Rs. 40,000 per financial year. Meaning, if the interest earned on an FD is less than ...
10% TDS on Rs. 50,000 = Rs. 45,000 So, the balance amount after deduction would be Rs. 45,000 and the same would be received by Mr. B. Further, Mr. A will directly credit the TDS deducted amount (Rs. 5,000) to the Central Government. ...
information technology, sportsperson, umpires and referees, coaches and trainers, team physicians and physiotherapists, event manager, commentators, anchors, and sports columnists are all clearly covered in the “Fees For Professional Services” and tax deduction at the rate of 10 percent is clearly...
Efficient TDS Processing, TDS Return, and Form 16 Services TDS or Tax Deduction at Source is the amount of tax deducted from the salary before paying them. TDS needs to be calculated on monthly basis and after that, the processing of the salary is done. Thus, it is a very important ...
Penalties and interest in the event of non-filling / non-deduction and late deposit of the TDS sum. What Rajput Jain & Associates Offers Are you searching for TDS Specialists in Delhi capable of providing TDS return filling services; we provide TDS return filling services at an reasonable price...
Supplies under a Contract:Deduction applies to the supply of goods/services made to the entities mentioned. Registration Requirement:Entities must be registered under GST to deduct TDS. What is The Rate of TDS Under GST? The rate of TDS under GST is 2% on the payment made to the seller of...