TDS & TCS Rate for the FY 2021-22

          TDS & TCS Rate for the FY 2021-22   During the FY 2020-21, Concession of 25% in TDS /TCS rate was offered. This 25% concession is not available for the FY 2021-22 onward.   The new TDS / ...
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No TDS under section 194C on reimbursement of freight charges to C&F agent.

No TDS under section 194C on reimbursement of freight charges to C&F agent. Zephyr Biomedicals [2020] 122 taxmann.com 124 (Bombay)/[2020] 428 ITR 398 (Bombay)   Short overview of the case:    - Section 194C of the Income-tax Act, 1961   - Deduction of tax at source   - Contractors/sub-contractors, payments to ...
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TCS CODE FOR TDS PAYMENT & TDS CODE FOR TCS PAYMENT

TCS CODE FOR TDS PAYMENT & TDS CODE FOR TCS PAYMENT   TCS CODE FOR TDS PAYMENT &  TDS CODE FOR TCS PAYMENT 0 Section Nature of Payment Code 192 Payment to Govt. Employees other than Union Government Employees 92A 192 Payment to Employees other than Govt. Employees 92B 193 Interest on securities 193 194 Dividend 194 194A Interest ...
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TDS Rates for tax deduction at source for AY 2021-22

TDS Rates for tax deduction at source for AY 2021-22 All the TDS Rates mentioned below are to be reduced by 25% in view of the relief measures announced by the Government due to Covid-19. Particulars TDS Rates (in %) 1. In the ...
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Few issue related to TDS on cash withdrawals u/s 194N

Few issue related to TDS on cash withdrawals u/s 194N Originally section 194N has provided for TDS @ 2% on cash withdrawn in excess of 2%. However, Finance Act, 2020 has altogether changed the mode of collecting TDS by providing (a) different ...
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Discount may attractsTDS under section 194H

Discount may attracts TDS under section 194H Yes, discounts may attract TDS under section 194H. This is the issue involved in a number of cases now. Question arises as to how the discount given by the seller attracts TDS. Discount ...
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