1 Likes19490 Views Comments 05 October 2020G Nagendra Rao It is high time for Govt to increase threshold limit as one lakh rupees and the TDS rate shall be 5% keeping the abnormal inflation increased over the last 15 years. 05 October 2020Sneha ...
exceeds INR 40,000 in a year. The TDS rate will apply once the earnings go past the threshold limit of INR 40,000. The TDS threshold for savings accounts is INR 10,000 under Section 80TTA. However, if the interest income exceeds the threshold limit, the following TDS rates will apply....
Formula designer and threshold limit functionality used for TDS calculation Calculation of TDS on invoices, payments, promissory notes, and intercompany transactions Periodic TDS settlement process and settlement of TDS amounts to TDS authority vendors ...
In 2023, the exemption limit per individual on the disposal of QSBCS is $971,190, which, with proper planning, may result in a tax-free sale. While the focus of this article will be on the disposition of QSBCS, the LCGE can also be utilized for the disposition of qualified farm or...
50 lakhs. For transactions beyond the aforesaid limit, the TDS has to be deducted from the entire value of the transaction. For example, if the property costs Rs. 52 lakhs then you ought to pay TDS on the sum of Rs. 52 lakhs and not the sum of Rs 2 lakhs ( 52 lakhs – 50 ...
6. Would there be any ramifications if I used TDS for personal use instead of depositing it in the government's account? Yes, failure to remit tax deducted by you in the government's account within the time limit will result in interest, a penalty, and up to seven years in prison. ...
in the form of interest from deposits, property rent, etc then it is taxable. This income, earned in India, has a basic limit of exemption. This article explains abut NRI and ITR,who is NRI,Tax and TDS on various kinds of income for NRI, example bank accounts,fixed deposits,mutual fund...
The actual rules for LTA are quite detailed, hence we are not covering it here in this article. Right now you just need to know that the employer can define the LTA allowance limit like Rs 50,000 (for example), so that employee can do travel expenses upto that limit twice in a block...
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