The Government had brought in the concept of TDS, through which persons are required to deduct TDS and deposit the same with the Government. Know more about TDS on fees for professional and technical services here
Accounts Payable What is Procurement FAQs Is TDS mandatory for companies? Yes, the deduction of tax at source (TDS) on salary is compulsory under section 192 of the Income Tax act. An employer who pays wages to his/her employee must deduct TDS from the salary if the total income exceeds ...
TDS Certificate is a certificate issued by the deductor specifying the amount of TDS deducted and paid to the bank. This document is used at the time of assessment for adjusting the TDS paid against the tax payable. There are various types of TDS certificate, namely, ...
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. ...
Any interest other than interest on securities payable to non-residents not being a company or to a foreign company (Section 195) Payment to non-resident sportsman including athlete or sports association or institution. In case of non-resident sportsman, payments in respect of advertisements as wel...
TDS statement on all payments other than salaries Form 27Q TDS statement on income received from interest, dividends, or any other sum payable to non residents. Form 26QB TDS on payment for transfer of immovable property Form 27EQ Statement of collection of tax at source. The return stat...
7. Is it necessary to deduct Tax deduction at source on payments made to the government? There is no requirement that any tax be deducted from any money payable to the authorities, or India's Reserve Bank (RBI), or a corporation founded by or under a Central Act that is free from inco...
= 5000*2months*1% = Rs.100 Interest Payable = Rs.100/- 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...
Depending on various Income Tax Sections the threshold limit varies in the range of 1% to 30% of the actual payable amount. Taxes page Index Overview TDS Objective & Advantages TDS Deduction TDS Exemption TDS Types and its rate TDS deposit due date FAQ's on TDS...
Form 27Q Statement for TDS from additional income like interest, dividends, or any other amount payable to NRI (foreigners). Form 27EQ Statement for TCS (tax collected at source) Let us take a deeper dive into the details of the various kinds of TDS Return Forms. 24Q 26Q 27Q 27EQ Co...