TDS / TCS (Income Tax) – Information & Resource Bank
Indeed, a great privilege for Team TDSMAN as our mother organization ‘PDS Infotech (P) Ltd. has been adjudged the ‘Tech Topper’ by The Economics Times, Kolkata jointly with Rotary International. Click here for the published article. We express our sincere gratitude to all our valued users and other stakeholders for their cooperation and encouragement. With…
Indeed, a great privilege for Team TDSMAN as our mother organization ‘PDS Infotech (P) Ltd. has been adjudged the ‘Tech Topper’ by Times of India jointly with Rotary International. Click here for the published article. We express our sincere gratitude to all our valued users and other stakeholders for their cooperation and encouragement. With this…
Salary income: Employer deducts TDS on total income, including income other than salary after taking into account all deductions and exemptions. This saves the individual the hassle of paying the tax himself. TDS rate: As applicable to an individual based on his income and deductions. Interest income: TDS is deducted by banks on FDs and…
Since June 2013, it has been mandatory for buyers of immovable property to deduct TDS from the amount to be paid to the seller. It is the responsibility of the buyer to deduct TDS if the transaction value exceeds Rs. 50 lakh. The buyer is required to deduct TDS @ 1% on the total consideration…
The government has proposed to make Aadhaar card mandatory for filing income tax return and also applying for permanent account number (PAN). The new proposal has been made through an amendment to the Finance Bill. Recently, the I-T department had announced a mobile app for paying taxes and tracking of refunds. It had also said…
Salary income: Employer deducts TDS on total income, including income other than salary after taking into account all deductions and exemptions. This saves the individual the hassle of paying tax himself. TDS rate: As applicable to individual based on his income and deductions. Interest income: TDS is deducted by banks on FDs and RDs if…
The Income Tax department has issued over 850 prosecution notices to firms in the private and government domain in Karnataka and Goa on charges of delay in remitting TDS funds to the exchequer. A senior official said notices where the tax department files court cases for default in Tax Deducted at Source (TDS) payments have…
How to view your TDS through form 26AS? A taxpayer can view the tax credit or the tax that has been deducted on his behalf in the form of TDS. This information is available in Form 26AS and can be downloaded from the Income Tax website. It provides information about the tax deducted by various…
As many as 2.5 crore salaried tax payers will now receive SMS alerts from the Income Tax department regarding their quarterly TDS deductions. Finance Minister Arun Jaitley today launched the SMS alert service for Tax Deducted at Source (TDS) for salaried class and the CBDT will soon offer this facility on a monthly basis. Briefing…
The Income Tax Department has from time to time issued advisories regarding the need to avoid phishing emails and to carefully protect the passwords, OTPs and not share them with others. In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attempts, the Income Tax Department has introduced a…