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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 Salary Interest Income Receiving Professional Fee Getting a prize or Lottery etc Find below detailed understanding on the sections, nature of payment, who needs to deductSEE 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 TRACES View PAN master Validate certificates Check TDS refund Check Challan status Online 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 Finding it Difficult to File ITR Yourself? Hire our Smartest eCA’sSEE DETAILS

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what is section 194D and Section 194DA?
Guides, Section 194D & Section 194DA, TDS

In this part of our TDS series, we’ll further simplify 2 more important tax deduction provisions which are as follows: TDS on Insurance Commission: Section 194DTDS on Payment of Life Insurance Policy: Section 194DASection 194D: TDS on Insurance CommissionThis provision of tax deduction mostly hits people who work as insurance agents for companies like LIC, HDFC Insurance, ICICI Insurance etc.Who is required to deduct TDS u/s 194D?Any person who pays to resident an income in the form of remuneration or reward (as commission or otherwise) for generating insurance business.What isSEE DETAILS

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Guides, Section 193, TDS

In this part of our TDS series, we will discuss the concept of Section 193 of the tax deduction, that is: TDS on Interest on Securities: Section 193So let’s roll & understand this TDS concept in a simplified manner.Section 193: TDS on Interest on SecuritiesThe first thing which comes to everyone’s mind is “what is interest on securities?”. As per section 2(28B) of Income Tax Act, “interest on securities” means any interest on security (issued by the government whether state or central) and interest on debentures/securities (issued by the company aSEE DETAILS

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