TDS Archive

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Section 194Q of the Income Tax Act

Section 194Q: Applicability, non-applicability, rate, and example

Last year from 1st July 2020, the government had introduced a new TCS provision u/s 206C(1H). This section was for “seller of goods” on receipts/advance from/for sale of goods, exceeding Rs. 50 Lakhs as a consideration during the financial year. Section
TDS Rates For FY 2021-22

FY 2021-22: TDS section, nature of payments, threshold, and applicable TDS rates

TDS Rates For FY 2021-22 has changed and will apply for the whole year (subject to any change by the government)
TDS and TCS Rates For FY 2021-22

FY 2021-22: Applicability of TDS/TCS Rate and Threshold

In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TDS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 and it remained applicable till 31st March 2021.
TDS and TCS Rates For AY 2022-23

AY 2022-23: Applicability of TDS/TCS Rate and Threshold

In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TDS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 and it remained applicable till 31st March 2021.
TDS and TCS Rates applicable from 1st April 2021

FY 2021-22: Applicability of TDS/TCS Rate and Threshold from 1st April 2021

In FY 2020-21, the government has announced a package of Rs. 20 Lakhs crore in which TDS rates were revised and cut by 25%. For this, the effective dates were 14 May 2020 and it remained applicable till 31st March 2021.
Interest and Penalty on TDS

Section 201(1A) TDS Interest, Section 234E Late Filing Fee, and Section 271H TDS Penalty

If payment of TDS is not made in the specified time or/and return filing of TDS is not complete before the due date then the Income Tax act imposed interest and penalties for the default made by the deductor.
Section 206AB of the Income Tax Act 1961

Section 206AB: Higher Rate of TDS for non-filers of Income Tax Return

Section 206AB and Section 206CCA - Special provision of TDS and TCS for non-filers of Income Tax Return at Higher Rates.
income tax changes in budget 2021

Some Important Income Tax Changes in Budget 2021

FM Smt. Nirmala Sitharaman did not announce any changes in the Income Tax slab but have changed some rules to help ease of compliance for taxpayers.
difference between form 24Q and form 26Q

Know the Difference Between Form 24Q and Form 26Q

The basic difference between form 24Q and form 26Q is that Form 24Q is for salary return and Form 26Q is for non-salary return.
What is the difference between form 16 and 16A

Know the difference between form 16 and 16A

Form 16 and 16A both are vary in terms of purpose, eligibility, and where they are applicable