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TDS-Challan-INTS-281
Latest News, TDS

With the advent of new technologies and electronic media, everything is getting upgraded to meet the requirement of technology-driven generation. As a result, the processes like filing returns, paying taxes is also getting updated. Same initiatives have also been undertaken by the Income Tax Department in the year 2004. The introduction of Online Tax Accounting System (OLTAS) for Direct Taxes was done as an outcome. This system was introduced to reduce human intervention in the process and reducing errors. The system also facilitates its user to ascertain the status ofSEE DETAILS

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TDS-Rates-for-FY-2018-19-&-2019-20-(AY-2019-20-&-2020-21)
TDS

An amount of TDS or Tax Deduction at source is deducted for various incomes under the Income Tax Act 1961. But, do you know the rates at which such deduction is required to be made? Is it required to be done at one single rate or different rates?? The rates are prescribed in the law depending upon the nature of income like Income from SalaryInterest IncomeReceiving Professional FeeGetting a prize or Lotteryetc Find below detailed understanding on the sections, nature of payment, who needs to deduct TDS, and the TDSSEE DETAILS

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Make-TDS-payment-online
TDS

The assessee is required to pay the taxes on his income. Tax is collected by two modes: 1) Deduction or collection of tax at source (TDS / TCS) 2) Direct payment by assessee i.e. Advance tax/ self- assessment tax. In this blog, we will take an in-depth understanding on how to make TDS payment. TDS or Tax Deduction at Source is the amount of tax already deducted from the income of a person before the income is transferred in the hands of the receiver. Consider this example for a betterSEE DETAILS

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TRACES challan status
TDS

Being a private company or a government deductor you would always be required to import and match your TDS challan details at the time of filing of quarterly TDS or TCS returns. You can do the same by making TRACES login to your account. After making the login follow this process Click on Statements or payments optionSelect challan status in the drop downNow you have two options to check the detailsOption 1: Enter the period for which you want to see the challans and Select the challan status to beSEE DETAILS

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TDS

How Deductor can login on TRACES? A deductor needs to log in his account on TRACES to perform a number of activities like Downloading Form 16 / 16A of the taxpayer,Generating conso file Manage account on TRACESView PAN masterValidate certificatesCheck TDS refundCheck Challan statusOnline and offline corrections etc For knowing the seamless step by step login process and queries relating to locked in account, forgetting password and other related issues read our blog In order to login on the TRACES (TDS) website, you need to follow the following steps: OpenSEE DETAILS

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Latest News, TDS

If you do not have an account on TRACES website read this blog for step by step registration process and all related FAQs For registering on TRACES first you need to choose whether you are a Deductor Tax Payer or PAO Tax Deductor or Collector (Deductor) If you are deducting Tax at source or collecting any, you are required to register at TRACES website for availing a number of utilities. Get a detailed understanding below on how you can register and the need to register as a Deductor on TRACESSEE DETAILS

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The Most Comprehensive Guide On TDS In India
Guides, TDS, The Most Comprehensive Guide on TDS in India

Containing All the Updated TDS Sections that You Should Know for current FY 2018-19(AY 2019-20)”When it comes to tax deduction at source, there are lot of confusions. The first question being, what exactly is TDS? And when we understand that, the next question which pops-up, how many times do I have to pay tax? Why TDS is deducted from my salary? How the amount of TDS deduction on salary is calculated? What is the need of TDS and the list is, literally endless!So, to clear all your queries and provideSEE DETAILS

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Section-195 of Income Tax Act
Guides, Section 195, TDS

In this part of our TDS series, we will discuss the concept of Section 195 of the tax deduction, which is-Section 195: TDS on Other Payments Made to NR (Individual) or Foreign CompanyWho is required to deduct TDS u/s 195?Any person (resident or non-resident) who pays any sum other than salary to a non-resident is required to deduct tax under this section.What is the rate & time of tax deduction u/s 195?        The rate of tax deduction u/s 195 shall be either of the below rates whichever is beneficialSEE DETAILS

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What is Section 194 IA under Income Tax Act?
Guides, Section 194IA, TDS

In this part of our TDS series, we’ll touch Section 194IA tax deduction provisions which are as follows:Section 194IA: TDS on Payment on Transfer of Immovable Property (Not Being an Agricultural Land)Who has the need to deduct TDS u/s 194IA?Any person (Buyer or Transferee) who enters into an agreement with a resident for transfer of an immovable property (land or building or both but not an agricultural land) is required to deduct TDS under this section.What is the rate & time of tax deduction u/s 194IA?The rate of the taxSEE DETAILS

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What Is Section 194I, 194IB & 194IC Under Income Tax Act
Guides, Section 194 I, Section 194 IB & Section 194 IC, TDS

Budget 2019: Interim Budget 2019 announced way ahead Lok Sabha election, has increased the threshold for deduction u/s 194I – TDS on Rent to Rs 240000 increasing it by Rs 60000. The earlier limit was Rs 180000 which will be applicable till FY 2018-19. This part of our TDS series majorly focuses on the tax deduction provisions which are relating to payment of rent. The section that will be discussed are Section 194I, 194IB & 194IC that are as follows- TDS on Rent: Section 194I TDS on Payment of RentSEE DETAILS

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