Salary (Sec 192):TDS if employee’s total taxable salary exceeds the basic exemption limit. TDS Rates & Key Sections TDS rates vary based on the type of income, including salaries, professional services, commissions, rent payments, and interest from investments. The applicable rate depends on th...
Every person is required to deduct TDS u/s 192 if the estimated salary exceeds the maximum amount not chargeable to tax. Any individual paying salary of Rs. 8,50,000 p.a. would be required to deduct TDS even though he is declaring income u/s 44AD. Further, sec 194A, 194C, 194H,...
Example of TDS on Salary Example of TDS on Fixed Deposit Key facts about TDS, Form 16, Form 16A, Form 26AS Overview of TDS are given below. Details are in our article Basics of Tax Deducted at Source or TDS The employer/bank/financial institution will deduct TDS as per TDS rate. To ...
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...