In the section, it is provided that if TDS is deducted on the transaction under any other section of the Income-tax Act (Other than TCS collected under section 206(c)(1H) of the act then TDS is not required to be deducted on the transaction. What if, the seller i...
it from a source outside India by way of issue of any long-term bond or rupee denominated bond on or after the 1st day of April, 2020 but before the 1st day of July, 2023, which is listed only on a recognised stock exchange located in any International Financial Services C...
section 206(c)(1H). However, after section 194Q becomes applicable on July 1, 2021), Contoso will be covered by it. Because section 194Q is an overriding section, Contoso will become liable to deduct TDS under it, and Fabrikam won't require collection of TCS under section 206(c)(1H)...
Payment for Commission or brokerage (Section 194H) Payment of rent (Section 194I) Payment of fees for professional or technical services (Section 194J) Commission to Stockiest, distributors, buyers and sellers of Lottery tickets including remuneration or prize on such tickets (Section 194G) Income...
1. TDS on contractor payments under section 194C Businesses usually hire contractors for performing certain jobs rather than offering permanent roles. Here is the list of services whereTDS on contractor paymentsis applicable if contractors or subcontractors are Indian residents : Advertising services Cate...
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.
We had filed return (2022-23 Q2 ) on oct-2022, but we forget TDS payment(Challan) & Return of some customer(94C). so we paid remaining TDS Payment Done on Feb-2023. can we Correction the Q2 and Add Remaining Challans and Cust Details, please suggest me here. Reply SAG Infotech Jun...
key features of TCS on goods sale section-206c New TDS deduction No cash transactions exceeding 1 Crore -Section 194N Extention of TDS/TCS statement filing Date TDS payment to resident contractors Consequences of not deducting TDS and Non payment or Late payment Due Date are closer than they ...
Step 2:On the following page, you'll find a list of challans that apply. Further, you must choose the option 'CHALLAN NO./ITNS 281'. Step 3:Enter all relevant details as required in the form. Step 4:Enter the TAN number and the legitimacy of the TAN entered for TDS payment will ...
The salient features of Section 194-O are as below a) An ECO is liable to deduct TDS @ 1 percent on the gross amount. b) TDS is applicable on the sale of goods as well as services through the ECO. c) TDS is not applicable where the value of transaction of an Individual or HUF ...