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On this page, you will find all the articles and popular news which cover the information about the TDS (Tax Deducted at Source), which consists of notification given by the income tax department that where the tax needs to be deducted or which product attracts taxes.
The taxpayers expect a notification from the taxation council about the deduction rates or updates in TDS etc. thus we have all the TDS-related articles and news in one portal.
There are several articles that are kept in the library of the SAG infotech; this library will be favorable for the CA, taxpayer, and for company executives. All the articles were written by the tax professionals and CA so that no mistakes be there in the articles. The materials of news take from the income tax department.
The Central Board of Direct Taxes (CBDT) on this Wednesday pinpointed that buyers of goods or services shall have to deduct TDS at the source and at 0.1% of the amount that is greater than Rs 50 lakhs when credited or paid to a resident seller on the transactions that have occurred after July 1, […]
It has been held by the Income Tax Appellate Tribunal, Bangalore Bench thatIf computer software is affixed onto hardware and the single product i.e. integrated unit is sold then Tax Deducted at source shall not be applicable. Here, in this case, the assessee and the subject of consideration is M/s Autodesk Asia Private Limited that […]
The income tax department has designed and developed a new functionality ‘Compliance check for sections 206AB and 206CCA‘ that shall ease the compliance burden. The income tax department has released a circular regarding this issue. Help tax deducted at source (TDS) deductors and a tax collected at source (TCS) collectors identify/pinpoint those ‘specified persons’ on […]
The Finance Bill 2021, has inserted two sections in Income Tax Act 1961, one is Section 206AB and the second is Section 206 CCA. The aforesaid section has provisions for the higher rate of TDS/TCS that is to be executed for the non-filers of the income tax return. Section 206AA and 206CC are already applicable […]
The Central Board of Direct Taxes (CBDT) has notified the Income Tax (17th Amendment) Rules, 2021 that further amends the Income Tax Rules, 1962. As per the notification, the deductor while preparing statements of tax deducted at source shall provide facts and figures related to the amount paid or credited on which tax has not […]
National Securities Depository Limited, an Indian central securities depository, released the new features in e-TDS and TCS. The NSDL has amended and updated the e-TDS TCS RPU utility for the purpose of preparing TDS or TCS returns. NSDL has enabled the e-TDS/TCS File validation utility (FVU) versions 2.167 up to Financial Year 2009-10 and Version […]
Here in this case the Assessee, Texas Instruments India, had acquired on “lease financing” a couple of motor vehicles from the financial leasing company. These vehicles had to be allocated to the employees of the Assessee for the purpose of office use. Moreover, the lessee applied for the tax deduction for the sum paid to […]
This time, due to the lower tax deducted at source (TDS) of many individuals for FY20, Income Tax authorities have sent notices to several taxpayers. The reasons cited in notices is that while some taxpayers have not paid the apt tax on interest that is earned by them others have paid lower tax on credit […]
If TDS is deducted on time and paid to the Govt. exchequer then no interest is leviable, this ruling came from the Income Tax Appellate Tribunal (ITAT), Cuttack Bench in a matter where Srabani Constructions Pvt Ltd. is the assessee. The Assessee was involved in the real estate business and paid INR 41,84,879 to contractors, […]