Tax Connect
madhuvridhi
Tag: TDS
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TDS Increased threshold Limit
There are various provisions of Tax Deduction at Source (TDS), with different thresholds and multiple rates. To improve ease of doing business and better compliance by taxpayers, it is proposed to rationalize certain rates of TDS and to increase threshold limit for applicability of the TDS provisions.
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Changes in TDS Rates Budget 2024
There are various provisions of Tax Deduction at Source (TDS) with different thresholds and multiple rates between 0.1%, 1%, 2%, 5%, 10%, 20%, 30% and above. To improve ease of doing business and better compliance by taxpayers, the TDS rates are proposed to be reduced.
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Amendment of provisions of TDS on sale of immovable property
2. Sub-section (1) of the said section provides that any person responsible for paying to a resident any sum by way of consideration for transfer of any immovable property shall, at the time of credit or payment of such sum to the resident, deduct an amount equal to one per cent. of such sum or…
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TDS on payment of salary, remuneration, interest, bonus or commission by partnership firm to partners
TDS section 194T may be inserted to bring payments such as salary, remuneration, commission, bonus and interest to any account (including capital account) of the partner of the firm under the purview of TDS for aggregate amounts more than Rs 20,000 in the financial year.
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All about TDS / TCS Returns
Due Dates for E-Filing of TDS & TCS Returns for FY 2023-24
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TDS/TCS on non filer at higher rates – Budget 2021
Section 206AA of the Act provides for higher rate of TDS for non-furnishing of PAN. Similarly section 206CC of the Act provides for higher rate of TCS for non-furnishing of PAN. It is seen that while these provisions have served their purpose in ensuring obtaining and furnishing of PAN by various person, there is need…
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10% TDS only on dividend payment by mutual funds
Mutual fund (MF) players that were expecting investor out flows over uncertainty on tax deducted at source (TDS) on capital gains were relieved after the Central Board of Direct Taxes (CBDT) on Tuesday clarified that the proposal would only be limited to dividend payouts.
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Widening the scope of section 206C to include TCS on foreign remittance through Liberalised Remittance
Widening the scope of section 206C to include TCS on foreign remittance through Liberalised Remittance Scheme (LRS) and on selling of overseas tour package
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TDS on E-commerce transactions through insertion of a new section- Budget Proposal 2020
E-commerce operator is required to deduct tax at the time of credit of amount of sale or service or both to the account of e-commerce participant or at the time of payment thereof to such participant by any mode, whichever is earlier.
