Witryna10 sty 2024 · If the TDS is deducted in any other month, then within seven days of the last day of the month within which the TDS was deducted. List of items on which TDS is deducted Your Cost to … WitrynaTDS has to be deducted if the aggregate of the rent paid or likely to be paid during the year exceeds Rs 2.40 lakh: Individuals and HUFs not covered in the above section: …
Monthly deduction of tds - Income Tax TDS - CAclubindia
WitrynaDelay in deduction of TDS will attract interest @ 1% per month until the tax is deducted [2] 3. Every person, whether an employer or otherwise, needs to credit the tax … WitrynaWhen should TDS be Deducted and who is Liable to Deduct? If you are making any sort of payment specified under the Income Tax Act, then TDS will be deducted at the time of these payments. ... Let's assume … muffy name meaning
Easy Way to Switch New to Old Income Tax Scheme for Taxpayers
Witryna10 kwi 2024 · For example, if an organization wants to pay TDS for the month of July, then the TDS payment due date for the same will be the 7th of August. ... Filing of TDS (Tax Deducted at Source) return is mandatory for every person who has deducted TDS. The returns are submitted quarterly, and details pertaining to the deduction of TDS … WitrynaRs.1,00,000 + 30% of income above Rs 10 lakhs. Note: TDS should be deducted at applicable rates as above along with surcharge and Education Cess. Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore. Witryna13 kwi 2024 · Deduct the TDS: The person making the payment needs to deduct TDS on the payments made on deposits under the National Saving Scheme (NSS). Deposit TDS with the government: The TDS deducted needs to be deposited with the government within seven days from the end of the month in which the deduction was made. how to make white rice yellow