TDS is among the many taxes that people earning an income or profit must pay to the government, under the income tax laws. This guide will help you understand the nitty-gritties of TDS, TDS … READ FULL STORY
Before March 31, 2020, mutual fund houses collected Dividend Distribution Tax (DDT) on mutual funds. Dividends were tax-free in hands of investors. For equity schemes, at least 11.64% DDT was deducted and submitted to … READ FULL STORY
July 20, 2023: Non-resident Indians (NRIs) and foreign citizens whose permanent account numbers have been made inoperative because those were not linked with Aadhaar, should submit documentary proof of their residential status with their … READ FULL STORY
Entities responsible to deduct TDS or Tax Deducted at Source under the Income Tax (I-T) law must deduct a certain portion of the payment involved and submit it to the I-T Department. The TDS … READ FULL STORY
Tax Deducted at Source (TDS) is a sytem under which tax is directly collected at the point of generation of income. Under the income tax laws in India, TDS is deducted by the payer, … READ FULL STORY
Under India’s income tax law people making certain payments are responsible for deducting tax at source (TDS) from the amount. Section 195 of the Income Tax Act deals with TDS deductions on NRI income. … READ FULL STORY
The income tax Form 13 is associated with TDS, which stands for ‘Tax Deducted at Source’. According to the Income Tax (IT) Act, TDS must be deducted at the time of any payment. TDS … READ FULL STORY
To better collect taxes, the deduction of tax at source, also known as TDS, has proven to be a valuable tool. The stress of paying taxes and submitting income tax returns is lightened for … READ FULL STORY
Employers of those who earn a taxable income are liable to deduct tax, known as TDS, when paying salaries. This tax deduction on the part of the employer is documented in Form 16. … READ FULL STORY
What is a TDS refund? TDS is the money deducted from a taxpayer’s salary, interest from bank accounts, rent, sale of property, and the like. A taxpayer can claim a TDS refund when the … READ FULL STORY
TDS on commission Just like any other income, TDS deduction applies to money earned as commission or brokerage. Section 194H of the Income-Tax Act deals with TDS on commission and TDS on brokerage. See … READ FULL STORY
In addition to your basic KYC documents (like your proof of address and identity) and property documents (like chain of documents and title deeds of the land), the home loan lender asks you to … READ FULL STORY
Banks are mandated to deduct TDS on the interest income of a customer under Section 194A of the Income-Tax Act, even if an individual’s income does not fall under the taxable limit. However, the … READ FULL STORY
