Applicability: This shall be effective 1st July’21 TDS Rate: 0.1% on amount exceeding Rs 50L 5% if PAN is not furnished When to Deduct? Assessee…
View More Section 194Q – TDS on Purchase of GoodsMonth: January 2024
TDS / TCS Compliance Reminder for January 2024
30th January 2024 – Due date of issuing TCS certificates for Quarter 3 of Financial Year 2023-2024 31st January 2024 – Due date of filing…
View More TDS / TCS Compliance Reminder for January 2024CSI Download – Options through the Income Tax Portal
CSI file is provided by the Income Tax Department through its web portal for validating the Payment Challans reported in the quarterly TDS / TCS…
View More CSI Download – Options through the Income Tax PortalInoperative PAN – Reasons, Consequences and Remedies
For all new PAN issued as on 1st July 2017, CBDT made it mandatory for all individuals to link their PAN with the Aadhaar. The…
View More Inoperative PAN – Reasons, Consequences and RemediesSignificance of the ‘REMARKS’ in TDS Returns
For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this…
View More Significance of the ‘REMARKS’ in TDS ReturnsSection 89(1) Relief on Salary Arrears and Salary in Advance
Relief is provided under section 89(1), if salary pertaining to another period is received in advance/ or in arrears during a financial year, leading to…
View More Section 89(1) Relief on Salary Arrears and Salary in AdvanceSection 194LBB – Income in respect of units of the Investment Fund
Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time…
View More Section 194LBB – Income in respect of units of the Investment FundAllocation 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 Returns