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Oct 4, 2024 · TDS Rates in India. The following tables list the various TDS rates applicable to resident and non-resident payments as well as TDS rates on domestic and foreign companies in India. Any person paying income is responsible to deduct tax at source and deposit TDS within the stipulated due date.
Sep 27, 2024 · From October 1, 2024, Budget 2024 has significant changes to Tax Deducted at Source (TDS) will take effect, aimed at simplifying compliance and easing tax burdens for businesses and individuals. Key amendments include reductions in TDS rates across several sections.
Mar 29, 2024 · It’s important that businesses know the applicable rate, TDS section and exempt limit for each nature of payment. This comprehensive TDS rate chart for FY 2024-25 provides detailed information on thresholds, rates, and applicable sections for different types of payments.
Jan 16, 2024 · So, here the threshold limit is Rs. 30,000 and TDS needs to be deducted only if it exceeds 30,000. What are the different TDS threshold limits under the Income Tax Act? The various TDS threshold limits for FY 2020-21 have been compiled as under:
Feb 11, 2023 · TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
Jun 1, 2015 · For the purposes of this section "specified person" means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted, for which the time limit of filing return of income under sub-section (1) of section ...
Aug 30, 2024 · Tax deducted or collected at source shall be deposited to the credit of the Central Government by following modes: 1) Electronic mode: E-Payment is mandatory for. a) All corporate assesses; and. b) All assesses (other than company) to whom provisions of section 44AB of the Income Tax Act, 1961 are applicable.
Oct 24, 2024 · Starting from April 1, 2025, if a firm makes any payments to its partners, it must deduct TDS at 10% if the payment amount exceeds the threshold limit of 20,000. These payments include salary, remuneration, bonus, commission, and interest. Note: TDS is not applicable to the drawings and the capital repayment to the partners.
Average rate of Tax + Health & Education Cess (Surcharge if Salary > 50 Lacs) TDS as per Tax Regime selected by employee. If not selected, TDS deduction as per New Regime.
Sep 10, 2024 · Threshold limit of INR 10,000 will be applicable aggregate amount from winning from lottery/ crossword puzzle/ card game or any other game/ gambling/ betting. With effect from 1st April 2023, provisions of section 194B of the Income Tax Act will not apply to winning from any online game.
