How can I minimise TDS on Salary? It is mandatory to deduct TDS on salary if the employee's income exceeds the exempt tax limit. ... Under Section 80C and 80D, the government allows tax exemptions, where a taxpayer can claim an exemption based on his/her various investments in that fina...
In the Budget 2022-23, the government has proposed to remove the exemption on TDS deductions on interest payments on listed debentures. This means that all interest payments on listed debentures will now be subject to TDS deduction. The companies will have to pay the same to the ...
As we all know, TDS is deducted to deposit a certain amount of your salary to the government in the form of tax. Apart from depositing tax, you are required to file a TDS Return as well. TDS Return needs to be filed with NSDL by the deductor at regular intervals. But, what if ...
It is applicable on various payments ranging from contractor payments, salary, commission and more. 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...
The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here
This 1% TCS would be remitted to the government. The TCS (INR 100) remitted by the ecommerce operator will be provided as credit to the supplier. The amount collected by an ecommerce operator as GST TCS must be remitted with the Government before 10 days after the end of the month ...
The government has directed the E-commerce companies to start collecting up to 1 percent TCS in the course of making any payment to suppliers under GST. Also, the notified entities are directed to collect TDS at one percent on the payments done to the suppliers of Goods or services. The ...
On the other handForm 15H imposes just the first condition, in that, the final tax on the investor’s estimated total income computed as per the provisions of the Income Tax Act should be nil.The second condition imposed by Form 15G is not applicable in the case of Form 15H. ...
TDS is a certain percentage deducted at the time of payments of various kind such assalary, commission, rent, interest on dividends etcand deducted amount is remitted to the Government account.This withheld amount can be adjusted against tax due.The person/organization deducting the tax is called...
On 26th May, the UK government announced that it would impose a 25% windfall tax on oil and gas companies. And guess what…this is not the first time that the energy sector has had to have to deal with windfall Tax. Back in the 1980s, the US had levied a windfall tax on oil comp...