Category: TDS
Analysis & Comparison of Section 194Q & 206C (1H)
TDS on purchase of goods Section 194Q V/s TCS on Sale of goods Section 206C (1H): Q.: Is the new section mentioned u/s 206C(1H)? The new TCS statutes went into effect on 1 October 2020, and if your turnover was more than 10 crores in the past financial year, i.e. the year ended 31 March …
TCS & TDS Rate chart for the FY 2023-24 (AY 2024-25)
Tax collection at source Rate Chart for Assessment Year 2024-2025 – Income Tax TDS is one of the key regulatory frameworks for the Income Tax Authority. Each deductor shall deduct the TDS at the specified rate if the payment exceeds the limit specified in that respective section under income tax. There are different sections …
TDS on Purchase of Goods
www.carajput.com; TDS NEW SECTION 194Q TDS on Purchase of Goods (Budget 2021) Govt introduced new TDS Section 194Q effective from 01-July-2021, which states that any person who is a buyer, liable to pay any sum to any resident (hereinafter referred to as the seller in this section) for the purchase of any goods of a …
No TDS U/s 194C on freight to C&F charges .
Overview on the case ( Zephyr Biomedicals Vs JCIT (High Court of Bombay at Goa)) – No TDS U/s 194C on reimbursement of freight charges to C&F Agents. The issue is whether the payments to C&F agents that are entirely recovered for freight charges which have no element of gain are liable in compliance with …
No need to TDS deduct on medical cash benefit to LIC staff
ITAT grant Relief Order: No TDS Required to be deducted on medical Cash Benefit to LIC employees In a significant ruling granting relief to the LIC Act granting advantages to the LIC Held by ITAT the Bangalore bench. LIC doesn’t need to deduct TDS on cash payment of cash medical benefit to its employees. This …
GST, TDS Rate for coworking spaces needed to be reduced in Budget 2021
The GST & TDS Rate for Coworking Spaces need to be cut off in Budget 2021 Coworking office buildings have had a significant increase in previous years but at present, the rate of Tax Deduction Source applied to coworking facilities services is Ten Percent because co-working companies offer rental services to both immovable and …
Basic Understanding on Tax Deducted at Source (TDS)
TAX Deducted at Source (TDS) has been adopted with the purpose of collecting tax from the source of earning of assesse. According to this concept, an individual (deductor) who is liable to make payment of specified nature to some other person (deductee) shall deduct tax at source and remit the same tax to the …
All about TAN (Tax Deduction & Collection Account No)
Complete Coverage about TAN (Tax Deduction & Collection Account Number) WHAT IS TAN? TAN is a Tax Deduction and Collection Account Number. It is a ten-digit alphanumeric number code and mandatory for firms or individuals or Companies deducting Tax Deductions at sources. Tax Deduction and Collection Account Number(TAN) which is required to be quoted on …
How to check the status of TAN and PAN Application
How to check the status of TAN and PAN Application You monitor the status of the TAN Application on the TIN NSDL Website The Payer / Deductor can use the 14-digit acknowledgment number to check the TAN status of the TIN NSDL. The status of the TAN application represents the status of the TAN application …