Category Archives: TDS

Payment of TDS subsequently

PAYMENT OF TDS SUBSEQUENTLY The procedure for paying the TDS amount into the Bank subsequently, i.e. not immediately after furnishing the purchase transaction details online: Using this facility deductor (Buyer) can furnish the details online and make the payment of taxes subsequently either through net-banking account or by visiting any of the authorized bank branches.… Read More »

Payment on TDS on property

PAYMENT THROUGH e-TAX PAYMENT OPTION IMMEDIATELY The procedure for furnishing TDS through the e-tax payment option immediately after providing the transaction details: E-Payment facilitates payment of taxes online by taxpayers. To avail this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks. Please follow the steps as under… Read More »

TDS on Property

What is TDS on property? The Finance Bill 2013 has proposed that purchaser of an immovable property (other than rural agricultural land) worth Rs 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor. Who is responsible to deduct the TDS on… Read More »

Details for deferment of implementation of ICDS

As we are kindly aware that ICAI, being a partner in nation building, has always supported the efforts of the government to achieve its objectives to optimize tax collection and prevent tax avoidance/evasion on one hand and to ensure timely compliance of statutory obligations by the tax payers on the other hand. It has also… Read More »

Changes in provisions regarding TDS & TCS from 01.06.2016

Amendments regarding changes in TDS & TCS rates, threshold limit(cut-off amount) w.e.f. 1st day of June, 2016 in Budget 2016. Based on the Budget 2016-17 proposals, the revised TDS & TCS rates & threshold limits of TDS applicable for the Assessment Year 2017-18 (Financial Year 2016-17) w.e.f. 01-06-2016 is tabulated below: Changes in TDS Threshold Limits… Read More »

Due dates for Payment of TDS

Income Tax Rule 30 prescribes the due dates for deposit of TDS i.e. time and mode of payment of tax deducted at source to the account of Central Government. Prescribed time of payment/deposit of TDS to the credit of Central Government account is as under: In case of an office of Government: Sl No. Description Time… Read More »