What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated…
View More Claim of TDS Credit deducted by the Employer but not paid to the GovernmentMonth: March 2023
Sec 115BAC – New Regime for Tax Computation
The government has been looking at avenues to make income tax provisions simplified and lessen dependencies on consultants. A step towards it came through the…
View More Sec 115BAC – New Regime for Tax ComputationSection 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of…
View More Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business TrustCoexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the…
View More Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021Allocation of Interest in TDS Returns
For delayed payment of TDS or delayed deduction, the deductor needs to pay interest for these delays. The interest is paid in through Challan /…
View More Allocation of Interest in TDS ReturnsTDS Deduction on EPF Interest (New Rule)
Employee Provident Fund (EPF) was earlier not subject to tax and was tax-free in the hands of the employee. When a contribution was made, the…
View More TDS Deduction on EPF Interest (New Rule)