TDS/TCS

TDS on Non residents Section 195 - Any person (resident or non-resident) responsible for paying any sum chargeable under this Act (excluding income chargeable under the head “Salaries”) to a non-resident is responsible to deduct tax at the…

Form 26AS also known as Annual Tax Statement under section 203AA OF Income-tax Act, 1961 provides details of Tax deducted at source, Tax Collected at source, Details of tax paid during the financial year. It is a digital statement that can…

From October 1, 2020, our Government has introduced a new provision for collecting TCS for the sale of goods and depositing the same to the Government. These provisions are given in Section 206C (1H) of the Income Tax Act. TCS…

Don't worry - No TDS on Post Office Recurring Deposit Scheme, No TDS on Post office RD's, Earlier TDS was not deductible on Recurring Deposits. However, since the new budget has altered the definition of time deposits & included TDS in…

Section 194J - TDS on Professional or Technical Service, This article is all about the Tax to be deducted under section 194J for the Professional fees or technical services which are to be deducted in case of the payments to be made to…

Section 194C : TDS on advertisements is deducted U/s 194C and 194J of the Income Tax. This article will explain everything with respect to TDS deduction with respect to advertisements. The issue of the applicability of TDS on payments made…

TDS under Section 194A. The topic relating to any TDS section is very much famous and on-going because there can be various complexity regarding the issues faced by individuals in normal business. So in this article I would make you…

TDS on payment to contractors Under Section 194C: Any person responsible for paying to any of the contractor for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract shall, at the time of…

TDS on Sale of Property. As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of the Income Tax…

TDS Rate Chart For FY 2019-20 AY 2020-21, TCS Rates for FY 2019-20: TDS Rate Chart: TDS means "Tax Deducted at Source". Here we provide TDS Rate Chart for AY 2020-21 OR FY 2019-20. TDS is one of the modes of collection of taxes, by which a…

TDS on Rent: As per section 194 I of Income tax act 1961 ,TDS on rent has to be deducted where the aggregate amount paid or credited or likely to be paid or credited to the account of person receiving the rent exceeds Rs. 1,80,000…

Tax Collected at Source, Latest TCS Rates in India, TCS means collection of tax at source by the seller (collector) from the buyer (collectee/payee) of the goods (specified u/s 206C of Income-tax Act, 1961, like timber obtained under…