Applicable for the Assessment year 2020-21 Particulars TDS Rates (in %) 1. In the case of a company- 1.1 where the company is a domestic company- Section 193: Interest on securities a) any debentures or securities for money issued by or on behalf of any local authority or a corporation established by a Central, State or Provincial Act; 10 b) any … [Read more...] about TDS Rates – Applicable to a company
TDS
What is salary TDS certificate Form 16 – All you need to know
Form 16 is a certificate issued by the employer certifying the total amount of tax that has been deducted and deposited against employee's permanent account number for the whole previous year. It's also known as salary TDS certificate. Form 16 contains all the information that employees are required to prepare and file an income tax return. Before getting into what is … [Read more...] about What is salary TDS certificate Form 16 – All you need to know
How tax deducted at source works – all you need to know on TDS
TDS is simply stands for Tax deducted at source. As per law, the person responsible for making certain type of payments is required to deduct tax at a specified rate either at the time of payment or at the time of credit or payment, whichever is earlier. Our law has prescribed different rates of TDS based on the type of payments and category of parties to whom it's … [Read more...] about How tax deducted at source works – all you need to know on TDS
TDS on withdrawal from employee provident fund or EPF – Section 192A
In order to discourage premature withdrawals from employee provident fund, government has introduced section 192A. As per this section, TDS amount has to be deducted out of the withdrawals from employee provident fund or EPF if certain conditions are satisfied. Employee provident fund withdrawals are taxable in India if the employee doesn't render continuous services for a … [Read more...] about TDS on withdrawal from employee provident fund or EPF – Section 192A
TDS on payment of compensation on compulsory acquisition of Immovable property – Section 194LA
Any person responsible of paying compensation or enhanced compensation or consideration or enhanced consideration on compulsory acquisition of immovable property other than agricultural land is required to deduct tax at the rate of 10% at the time of payment to a resident. No surcharge, education cess or SHEC shall be added to the rate of TDS. This means it should be deducted … [Read more...] about TDS on payment of compensation on compulsory acquisition of Immovable property – Section 194LA