Preface OF TDS
TDS Return is a diurnal statement submitted by the deductor to the Income Tax Department. The statement shows a summary of all the entries for TDS collected by the deductor and the TDS paid by the deductor to the Income Tax Authority
TDS vittles are introduced with following intentions which are given below
1) To insure nonstop inflow of profit to Government
2) To check the practice of Tax Evasion among taxpayers
3) To insure that maximum number of Persons file ITR( It's generally seen that persons whose TDS is subtracted train ITR)
Lex N Tax Associates are furnishing Stylish TDS Return Filing in Delhi NCR or TDS Return Filing Service in Delhi NCR with educated, experts and good staff who always ready to helps you.
Applicability of TDS Return Provision
Companies, LLP( Limited Liability Partnership) have to misbehave with TDS Returns vittles irrespective of quantum of development still Individual, HUF shall have to abate TDS if their development is Above 2 crore.
TDS under section 194C
TDS under section 194 – C deals with vittles related to TDS on payment to contractor Every person who's liable to make payment to contractor shall have to abate TDS@ 1 if the payment is made to Individual & HUF still TDS shall be subtracted@ 2 if payment is made to Company
TDS under Section 194 I
Every person who's liable to make payment of Rent shall have to abate TDS@ 10 if the rent paid or outstanding during the time is further than Rs,000/- still in case of payment of rent on machine TDS shall be subtracted @ 2 %
TDS Under section-194 J
Every person who's liable to make payment of Professional freights TDS shall be subtracted@ 10 if the quantum paid or outstanding during the time is Rs,000/- still TDS On specialized services shall be subtracted@ 2w.e.f from01.04.2020
TDS under Section 194 – H
Every person who's liable to make payment of Commission TDS shall be subtracted@ 5 if the quantum paid during the time is further than Rs 15000/-
TDS under Section 194- D
Every person who's liable to make payment of Insurance Commission shall have to abate TDS@ 5 If the commission paid or outstanding during the time is further than Rs 15000/-
TDS under Section 193
This section deals with payment of Interest on Securities if the quantum paid or outstanding during the time is further than Rs 5000/- and TDS shall be subtracted@ 10
TDS under Section 194 – A
Every person who's liable to pay Interest other than interest on securities TDS shall be subtracted@ 10 handed quantum paid or outstanding during the time is further than Rs 5000/-. The Rate of TDS shall be 10.
In case of banking company making payment of Interest on Term Deposit Tds shall be subtracted@ 10 handed quantum paid or outstanding during the time is further than Rs 40000/- in case of Normal person and Rs 50000/- in case of elderly citizen
TDS under Section 194- IA
Every person who's liable to make payment of purchases of property TDS shall be subtracted@ 1 if the quantum paid or outstanding during the time is further than Rs/-
No TDS shall be subtracted in case of payment is made for Agriculture land in pastoral area
Section-194 DA
This section deals with TDS on payment of Maturity quantum of Insurance policy. TDS shall be subtracted@ 5 if the quantum paid during the time is further than Rs/-. TDS shall be subtracted if impunity under section 10( 10D) of income duty act-1961 isn't applicable
Section 194 IB
Every Individual or HUF making payment of Rent of further than Rs,000/- per month than TDS shall be subtracted@ 5 and TDS shall be subtracted at the last month of fiscal time or last month of residency( Whatever the case may be)
In this section TDS shall be deposited by filling form 26QC available on TIN NSDL point
TAN operation
As per Section 203A every person who's liable to abate TDS shall have to mileage horsewhip no by Filling Form 49 B within 30 days from the date of connection of TDS vittles.
TAN No is a 10 number alphanumeric law issued by Income Tax Department to duty deductors still Individual or HUF abating TDS under Section 194 IA, 194 IB & 194IC there's no need to apply for TAN no
Payment of TDS
TDS payment online, Every person who's abating TDS shall have to deposit TDS on yearly base and TDS so subtracted shall be deposited to government Up to 7th of coming month still TDS for the month of March shall be deposited up to 30th April
In case of dereliction in payment of TDS interest shall be [email protected] pm from the date of deduction of TDS to the date of payment of TDS( TDS payment online). We're then to give Stylish TDS Return Services
TDS Return
Every person who's liable to abate TDS shall have to submit TDS return on daily base and it should be submitted up to 31st of coming month from the end of quarter. still TDS return for quarter ending March shall have to be submitted up to 31st May. We're furnishing TDS Services in Delhi NCR or TDS Return Filing Services in Delhi NCR, Lex N Tax always ready to break your questions regarding what's duty subtracted at source, TDS return form, TDS Services in Delhi NCR, TDS payment online etc.
