WitrynaTax deducted or collected at source shall be deposited to the credit of the Central Government by following modes: 1) Electronic mode: E-Payment is mandatory for. a) All corporate assesses; and. b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable. 2) Physical Mode: By … Witryna16 cze 2024 · Our Client was required to make provision for a certain expense in Mar-20 and deduct the TDS on the same but due to scenario of lockdown the same entry …
No Section 271C Penalty on mere belated TDS remittance: SC
Witryna10 kwi 2024 · The tenant is responsible for deducting TDS on rent at the rate of 10% on the rent paid to the landlord if the rent paid exceeds Rs. 2,40,000 per annum as per the norms of Income Tax Act under section 194 – I. The tenant must also remit the TDS amount to the government. If the landlord is a non-resident, the tenant must deduct … Witryna5 sie 2024 · Know When Business and Profession required to deduct TDS even if tax audit is not applicable. Tax deduction at source is a means of collecting tax on income, dividends or asset sales, by requiring the payer to deduct tax due before paying the balance to the payee. In India, under the Indian Income Tax Act of 1961, income tax … kidspeace in orefield pa
Budget 2024: NBFCs seek TDS exemption on interest income
WitrynaIndividuals who make certain payments, as defined by the Income Tax Act, are required to pay TDS just at the time of transaction. No TDS should be collected if the person making the payment is a person or a HUF whose finances are not required to be audited. ... People and HUFs who must deduct TDS at a rate of 5% are exempt from … WitrynaTax Deducted at Source (TDS) is a specific amount that is deducted when a certain payment like salary, commission, rent, interest, professional fees, etc. is made. The person who makes the payment … Witryna14 kwi 2024 · Income Tax Return Income Tax Return (ITR) is a form used to report the details of an individual’s or a business’s income and taxes paid to the Income Tax … kidspeace fountain hill pa