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The Associated Chambers of Commerce and Industry of India (Assocham) has proposed a unified TDS (Tax Deducted at Source) rate of either 1% or 2% for payments to resident assessees. This recommendation is presented as part of its pre-budget memorandum to the finance ministry. The main purpose of this is to reduce interpretational challenges and […]
The tax deducted would have been diminished to 20% from 30% for the non-PAN cases towards the withdrawals of the Employees’ Provident Fund (EPF). This circulation is for those people whose Permanent Account Number (PAN) is not revamped with the records in the Employees’ Provident Fund Organization (EPFO), the same announcement has been addressed in […]
GST @ 18% is charged and TDS @ 2% is deductible up on the Google Adwords advertisement expense. The same is essential to find out that some publishers are advertising with the help of the Google entity which is enrolled in India and some of the advertisers are doing the same with the support of […]
Assocham in its recent suggestion the government of India has made a clear indication towards the reduction in the TDS for the next budget and has cited the reason that the litigations of accurate rate on the application. Currently, there are multiple rates on the charts of the Income-tax act on multiple categories of the […]
Any individual or a Hindu divided family other than the person referred to the second provision to section 194-I, who is responsible for furnishing to the resident any income through the rent of more than Rs 50000 for a month or a section of the month in the preceding year, then the amount cut is […]
Coworking office spaces have had an effective rise in past years, but currently, the rate of TDS applied to coworking services is 10% because the coworking firms provide rental services to movable as well as immovables. The TDS rates are required to be lessened so that it will give benefits to their customers in context […]
The Delhi High Court ordered the Income Tax Authority to pass the benefit of revised TDS rates for the FY 2019-20 and a discount of 25%. The order comes in the case where Manpower Services is the petitioner and has challenged the order passed by the respondent authority following section 197 of the Income Tax […]
On Sunday, the Income Tax Department introduced a utility for the banks and post offices which will help them in ascertain the rates of TDS (Tax Deducted at Source) on cash withdrawal of Rs. 20 lakhs or more, if the assessee has not filed the income tax return and that of Rs. 1 crore or […]
Tax Deducted at Source, or TDS, is a crucial requirement for employers and businesses in India. It is the method by which taxes are collected when people earn money, ensuring that the government receives its share within a specified time. Manual tracking of TDS is time-consuming and requires a significant amount of effort. It is […]
