As per Income Tax Act 1961 a new provision relating to tax deduction at source (TDS) has become applicable w.e.f. 01/04/2010, under which it is obligatory for every person, who is liable for deduction of TDS on interest on deposit, to furnish a copy of PAN card. ...
You are service receiver in this transaction. Your freelancer is service provider. 3) For technical service TDS 2%Mayank Sharma (7 Points) Replied 26 January 2024 Thanks a lot for the guidance. I'm just repeating below what understanding I got from the above details shared, to avoid any...
Interest –Interest is charged on late payments that are made to the TDS authority vendor. Others –Other charges are charged on late payments that are made to the TDS authority vendor. If you select Interest or Others, the Charge field is automatically set...
How to calculate TDS interest on late deduction Let's say you missed the TDS deduction of Rs 10,000 on the date of the transaction, which was on 15th April 2021, and eventually, you deducted the TDS on 2nd May. Since the TDS deduction should occur on the same day as the transaction ...
Communication is crucial because it allows the agent to keep their clients informed every step of the way, with regular updates on progress. Effective communication helps build trust and ensures a smooth transaction. How does a real estate agent’s knowledge of the local market benefit their clien...
Tax deducted at source introduced in GST is a mechanism to track the transaction of supply of goods or services. Let's check when & who is liable to deduct TDS Under GST.
Fees paid to BSE as Transaction Charges is not fees for Technical Services; E-magazine could not be considered as being nature of any consultative/ professional services; Payments share with the Franchisees is not payments for Technical Services rendered; Supply of ready study data is not ...
Here is the detailed article on TDS & TCS under the GST law – a complete guide to understand the latest provisions & implementation of the same.
Save as Draft - To send the transaction later to your customer.Note: You can override TDS only at the transaction level.TDS SurchargeTDS surcharge is an extra charge added to the TDS amount for payments made to high-income individuals or entities. It is calculated on the TDS amount to ensu...
TAN is needed to be mention on every transaction related to TDS. There is a penalty of Rs. 10000 on failure to apply TAN Procedure to pay TDS Due Date of deposit of Challan 281 and filling quarterly return of TDS Every person who is accountable to deduct TDS shall deposit the TDS ...