TDS (TAX DEDUCTED AT SOURCES) Tax Deducted at Source (‘TDS’) is form of direct taxation. TDS aims to collect tax at source of income. This act as check mechanism for person getting income to disclose income and corresponding tax. TDS Rate Chart for FY 2020-21. Also next year TDS Rate...
What is section 194J - Fees for professional or technical services? Section 194J contains a provision related to the deduction of tax at source (‘TDS’) from income by way of fees for professional or technical services. Types of payment covered u/s 194J The types of payments considered under section 194J are as...
EQUALISATION LEVY – OTHER THAN E-COMMERCE OPERATOR What is Equalisation Levy With the increase in electronic / digital transaction, taxation may be difficult if the buyer and seller are from different countries or say different tax jurisdiction. Equalisation Levy – e-Commerce and Others In order to tackle the issue of transaction in...
Section 194IB specified TDS deduction on the payment of Rent by Individuals / HUF. Section 194IB – TDS on Rent Who is responsible for tax deduction u/s 194IB ? Any Individual / HUF pays rent to any resident towards rent of land / building should deduct TDS u/s 194IB. Only Individual /...
What is TRACES – TDS Reconciliation Analysis and Correction Enabling System Traces (TDS Reconciliation Analysis and Correction Enabling System) is an online facility provided by the Income Tax Department at www.tdscpc.gov.in. The TDS return processing happens online with dashboard and status of filings and outstanding demand is shown therein. TRACES Emsigner...
What is TRACES – TDS Reconciliation Analysis and Correction Enabling System Traces (TDS Reconciliation Analysis and Correction Enabling System) is an online facility provided by the Income Tax Department. The TDS return processing happens online with the dashboard and the status of filings and outstanding demand is shown therein. REGISTER DSC...
What is TRACES – TDS Reconciliation Analysis and Correction Enabling System Traces (TDS Reconciliation Analysis and Correction Enabling System) is an online facility provided by the Income Tax Department at www.tdscpc.gov.in. The TDS return processing happens online with dashboard and status of filings and outstanding demand is shown therein. TRACES –...
Key Features – Return Preparation Utility (RPU) version 3.4 Section codes 194LBA(a) and 194LBA(b) for Form 26Q:- Existing section code: TDS RPU 3.4 FVU 6.9 194LBA has been sub-divided into below mentioned two sections: Certain income in the form of interest from units of a business trust to a residential unit holder...
TRACES FAQs–General-TDS TRACES has published FAQ general details about TAN, TDS, Taxable Income, PAN. TRACES FAQs General TDS What is TDS? TDS means 'Tax Deducted at Source'. TDS is one of the modes of collection of taxes, by which a certain percentage of amount is deducted by a person at the time...
What is Section 194IA Section 194IA mentions deduction on the sale/purchase of property other than agricultural land. Section 194IA - TDS on Purchase or Sale of Property Rate of Tax under Section 194IA The rate of TDS is to be deducted at 1% on the value of property Sold. Further, during the covid...
