Note: Interest is levied on TDS amount and NOT on Invoice amount and Part of Month is considered as FULL months. Therefore in above case there is 2 Months i.e Jan and Feb months 4) Interest for Late Deposit Interest for late deposit of TDS is applicable @ the rate of 5% per month....
TDS Rate Chart for FY 2024-25 - TDS is applicable on various payments like contractor payments, salary, commission etc. Check out TDS rate chart for FY 2024-25 & AY 2025-26.
TDS on Fixed Deposit, Savings Accounts The interest income of the user is taxable under section 194A of the Income Tax Act (ITA), 1961. Banks deduct tax on fixed deposits if the interest earned on the same exceeds INR 40,000 in a year. The TDS rate will apply once the earnings go pa...
According to section 201(1A) you will have to pay interest for late deposit of TDS after TDS deduction. The interest is at the rate of 1.5% per month, from the date on which TDS was deducted to the date it was deposited. This interest is added monthly. Here, a part of a month is...
Interest on securities (Section 193) Interest other than interest on securities (Section 194A) Payments to contractors and sub-contractors (Section 194C) Winnings from Lottery or crossword puzzles (Section 194B) Winnings from horse races (Section 194BB) ...
Interest at the rate of 1% per month or part thereof for non-deduction of TDS Interest at the rate of1.5% per month or part thereof for non-payment of TDS by 7th of every month Rs.200/per day for non-filing of TDS return on a quarterly basis Let's take an example to understand ...
Section NumberSourcePayee TypeThreshold LimitTDS Rate 192Salary PaymentIndividualBasic exemption limits as per the income tax slab rates.Rates of Income Tax in force. 193Interest on securitiesResident-10% 194Deemed DividendResident IndividualRs. 2500 each Financial year.10% ...
1 Payment of Salaries by Employers 192 Slab rates for AY 2021-22 Slab rate Not applicable 30% 2 Premature payment by PF Organization from EPF A/c (i.e. before 5 Years). 192A 50,000.00 10% Not applicable 20% 3 Payment of Interest on Securities by company. 193 10,000.00 10% 10% ...
Change in section code is only possible when the correction in challan is made. Reply ARUN BATRA October 25, 2017 at 9:48 am We received a demand after filing TDS returns on filing site for having short deducted and short paid tax against one of payment together with interest on short ...
Calculate the Interest: Our Online TDS interest calculator will give exact Interest payable for user on TDS amount. The interest is calculated based on the number of days between the date of deduction and the date of payment, and the prevailing interest rate specified by the Income Tax Act. ...