TDS return has to be filed by each deductor for deducting tax at source. After deducting tax from all eligible payments, you are required to file quarterly statements with government to assign the deducted tax amount to deductee's PAN.In this article we will be discussing TDS return filing due dates and the forms used for filing.TDS Return formsBased on the type of … [Read more...] about TDS Return filing due dates and forms to be used
Due dates or Time limit to deposit TDS
TDS or Tax Deducted at source has to be deposited with the government within the specified time limit. When tax has been deducted by any person other than government, the deducted amount has to be deposited on or before 7 days from the end of the month in which deduction is made or income tax is due u/s 192 IA.However, if income or amount is credited or paid in the month of … [Read more...] about Due dates or Time limit to deposit TDS
Importance of permanent account number or PAN in TDS
TDS stands for Tax Deducted At Source. TDS provisions are introduced to collect tax at the source from where certain types of incomes such as salary, interest, rent, professional fees etc. are generated.For instance in case of salary, tax has to be deducted by the employer at the time of paying it to employee. Instead of waiting for the employee to pay tax at the end of the … [Read more...] about Importance of permanent account number or PAN in TDS
Understanding TAN: A Simple Guide to Tax Deduction and Collection
If you're responsible for deducting or collecting taxes in India, you've likely heard about TAN (Tax Deduction and Collection Account Number). But what is it, why is it important, and how can you get one? This guide will break it all down in a simple and easy-to-understand way, helping you understand the process and its significance.What is TAN?TAN is a unique 10-digit … [Read more...] about Understanding TAN: A Simple Guide to Tax Deduction and Collection
Section 194J: TDS on fees for professional or technical services
Section 194J plays a crucial role in the TDS framework in India, specifically targeting payments for professional and technical services. Understanding provisions of section 194J is essential for both businesses and professionals to ensure compliance and avoid penalties. Section 194J of the Income Tax Act, 1961, mandates the deduction of tax at source (TDS) on … [Read more...] about Section 194J: TDS on fees for professional or technical services