April 20, 2017

TDS & TCS RATE CHART (FY: 2017-18 / AY: 2018-19)

TDSMAN05 mins

  TDS RATE CHART FY: 2017-18 (AY: 2018-19) Section Nature of Payment  Threshold Indv/ HUF Others     Rs. TDS Rate (%) 192 Salaries  –  Avg  – 192A Premature withdrawal from EPF  50000 10 – 193 Interest on Securities  10000 10 10 194 Dividends  2500 10 10 194A Interest (Banks)  10000 10 10 194A Interest…

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Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s account

TDSMAN34 mins

A deductor would face the following consequences if he fails to deduct TDS or after deducting the same fails to deposit it to the credit of Central Government’s account:- a) Disallowance of expenditure As per section 40(a)(i) of the Income-tax Act, any sum (other than salary) payable outside India or to a non-resident, which is…

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