An employer must cut a certain percentage of an employee's salary as TDS before paying the salary. Afterwards, the employer must deposit the money with the government. Other types of payments are also subject to TDS, including rent, commissions, interest payments by banks, professional fees, ...
On theGeneraltab, thePANfield shows the permanent account number (PAN) of the deductee. TheDatefield shows the date of the TDS calculation, and theValuefield shows the total percentage that was used for the TDS calculation. SelectVoucherto view the vouche...
The TDS Tenant Fees Matrix at the end of this guide provides further detail on all fees referenced in the Act and shows how the rules differ between England and Wales. The Tenant Fees Act also capped deposits at a limit of no more than 5 weeks' rent where the total annual rent is ...
TDS is a certain percentage deducted at the time of payments of the various kind of Income such as salary, commission, rent, interest on dividends etc and deducted amount is remitted to the Government account. For example, an employer deducts TDS on the income of his employee every month ...
08 August 2014M.ROHINI My brother is a state government teacher and his disbursement officer (head master ) is not filing quarerly returns.My brother received notice from income tax office demanding full payment with interst even tax deducted at source.It is the fault of Deductor.What to do...
Professional payments less than Rs. 30,000 are not liable to TDS, except the director’s fees, where no such limit is applicable. 3. TDS onrentpayments under section 194I Small businesses and startups rent certain assets for their day-to-day operations.Section 194Iis applicable on any amou...
If you have a property and you have given it on rent, then all the rent earned in a year will be considered as your “Income from House Property”. 3. Income from profit or gains from business: If you have your own business, then all the profits you generate from that business will...
charged in advance, rather than on a later date and the recipient get the net amount, i.e. after TDS. Some examples of expenses for which TDS is charged are salary, casual income, interest on securities, payment of rent, payment of fees, payment of commission or brokerage and so on. ...