TDS / TCS (Income Tax) – Information & Resource Bank
Form 24Q (Salary TDS Return), in the fourth quarter (Q4) includes two annexures – Annexure I and Annexure II. Annexure I is the regular quarterly data for the months of January to March. Annexure II is the tax computation calculation information for each employee along with summary and tax deduction (TDS) for the whole financial…
CBDT has issued circular no. 29/2017 dated 05.12.2017 in which the guidelines and instructions have been explained about calculation of TDS on Salary in FY 2017-18 AY 2018-19 under section 192 of the Income-Tax Act-1961. Click here to download the copy of the circular.
Central Board of Direct Taxes (CBDT) has issued a circular which contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2015-16 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). The issued circular has been given below:…
Employers failing to pay the Government the tax deducted at source (TDS) on salaries of their employees can be jailed for up to seven years, the CBDT has said. Failure to deduct income tax on salaries of employees or defaulting in payment of the same to the government will be liable to a penalty of…
The TDS and TCS rates chart for the financial year 2015-16 has been given below: TDS rates for F.Y. 2015-16 Nature of Payment Made To Residents Cutoff (Rs.) Company / Firm / Co-operative Society / Local Authority Individual / HUF If No / Invalid PAN Section-Description …
CBDT has released Circular no. 17/2014 which contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2014-15 and explains certain related provisions of the Act and Income-tax Rules, 1962. The released circular has been given below: CIRCULAR NO : 17/2014 F.No. 275/192/2014-IT(B) Government of…