Section Nature of Payment Threshold Limit (Rs.) Individual / HUF TDS Rates (%) Others TDS Rate (%) 192 Salaries Rs. 2,50,000 Slab Rates Slab Rates 192A Premature EPF withdrawal* Rs. 50,000 10% 10% 193 –TDS on interest on securities*** Rs. 10,000 10% 10% 194 Payment of div...
in case of multiple tenants the threshold limit of Rs 50,000 will apply on each tenant individually. “If both the tenants are paying rent for their respective share (of the flat), the tax shall not be deducted if their respective share of (total...
Yes, TDS on salary isdeducted every month. As per Section 192, the employer will deduct TDS on salary at the time of making the payment to the employee. ... In case, the employer fails to deduct the same, he will be liable to pay the penalty and interest. ...
From the payment made to the supplier of taxable products/services, TDS is expected to be deducted at 2% if the supply value exceeds Rs.2.5 Lakhs under the contract. From 1st Oct 2018, the terms of TDS on GST shall apply. The following shall be excluded to determine the value of the c...
Furthermore, TDS or deduction of tax at source is applicable to certain payments. It includes brokerage, salary, interest, professional fees, contract payments, royalty, and more. Also, TDS is applicable despite the payment mode such as credit, cash, or cheque. ...
Form 15G can be submittedby Individualbelow the age of 65 years (Age limit reduced to 60 Years from from 1st July, 2012)). The final tax on his estimated total income computed as per the provisions of the Income Tax Act should be nil. ...
A payment of a tenancy deposit is a permitted payment. The Cap on deposits is 5 weeks rent where the annual rent is below £50,000 pa or 6 weeks where the annual rent is £50,000 or more. 2. In this Act "tenancy deposit" means money intended to be held (by a landlord or...
(i) of the Act provides that certain payments such as interest, commission,brokerage, rent, royalty fee for technical services and contract payment made to a resident shall not be allowed as deduction for computing business income if tax on such payments was not deducted, or after deduction, ...