This booklet explains the applicability of Tax Deduction at Source (TDS) on different sources of income under the Income Tax Act of the Kingdom of Bhutan, 2001, and Rules thereto. It aims to inform and educate the general public on the rights and ...
To avoid disputes or prepare your case for a deduction claim, you should familiarise yourself with the points below. They provide insight into how a TDS adjudicator would approach a dispute case involving fees: 1. The tenancy agreement must clearly explain the circumstances in which a tenant ...
Point of Deduction – Earlier of the above two dates that is 28th of Jan, 2021 but TDS is deducted on 10th of Feb, 2021 So, INTEREST FOR LATE DEDUCTION is calculated for 2months are as follows = 5000*2months*1% = Rs.100 Interest Payable = Rs.100/- Note: Interest is levied on TDS...
In the case of Non-deduction of TDS The Penalty of 1% interest on the amount not deducted for the TDS In case of Non-remittance of the TDS to the government The Penalty of 1.5% of the total deducted amount that is calculated per month Delay in the TDS returns Filing The Penalty of a...
deduction of tax at source under sections 193, 194 and 194A of the Act on furnishing a declaration, in duplicate, in the prescribed form and verified in the prescribed manner. Rule 29C and Form Nos. 15F, 15G and 15H have been inserted in the Income-tax Rules, 1962 by the Income-tax...