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),Company,Firm,Association of Persons(AOP),...
The following table shows the TDS deduction. 展开表 DescriptionDr.Cr. Purchases5,000- TDS Payable-5 Account Payable-4,995 The following table shows a payment that is made for 7,000. 展开表 DescriptionDr.Cr. Account Payable7,000- TDS-7 ...
Overview on TDS Deduction U/s 194T : Payment by Firm-to-Partner TDS on Payment by Firm-to-Partner, 194T, Payment by Firm-to-Partner, Provision TDS under Section 194T Changes in Budget 2024, Budget 2024, Partnership firms, payments made by partnership firms ... Read More Correcting TDS...
Rent for immovable property 194-I(b) 10.00% TDS on e-commerce participants (w.e.f 1.10.2020) Section 194-O 1.00% How to File TDS? Here is the list of things that you must consider to file Tax deduction at source online. It follows: ...
[Read more...] about Non-deduction of income tax at source from a gallantry awardee’s pension: CPAO If interest on a housing loan is claimed under Section 24(b) of the Income Tax Act for FY2020-21, the lender’s (bank’s) PAN is required. May 1, 2021 by admin Leave a Comment...
Form 26Q is the Quarterly return of TDS in respect of all payments other than salaries. The Deduction Details section denotes the type of deduction under which each of the Included transaction is grouped. Select the required deduction under Deduct
Section 206A of IT Act (Amended) mandates that any banking company or co-operative society or public company responsible for paying to residents any income by way of interest not exceeding five thousand rupees without deduction of tax shall file quarterly returns. The Central Board of Direct Taxe...
I have filed 26Q for Q2 in which I have mentioned section wrongly 4IB INSTEAD OF 4IA CAN I CORRECT IT got a short deduction notice because of wrong section quoting. Please suggest. I have downloaded consol file and imported to RPU but that file is not editable and that row also I’m...
After deduction of tax, non-payment of tax either in whole or in part1.5% per monthFrom the date of deduction to the date of payment The above-mentioned interests must be paid before filing of TDS returns. According to section 201(1A) you will have to pay interest for late deposit of ...
“The CBDT has issued circular no.04 related to the tax deduction form salary under the Income-tax section 192.” Read More Get a Free Demo of TDS Return Filing Software Guaranteed Offer for Tax Experts* List of TDS Deductors Individuals Body of Individuals Association of Individuals Partners...