Persons required to deduct Tax – Any person (other than an individual or HUF who is not liable for audit under section 44AB) who is responsible for paying rent to a resident is required to deduct tax under this section. Individual and HUF who are not covered in this section
TDS Rate Chart as applicable for the Financial year 2017-18 (Assessment Year 2018-19) Section For Payment of Amount upto which tds not deductible Individual /HUF Others 192 Salary As per Income Tax Slab As per Income Tax Slab N/a 192A Payment of accumulated balance due to an employee under Employees
The person responsible for paying interest on securities to a resident is required to deduct TDS. Tax is to be deducted at the time of payment or credit to the account of the payee, whichever is earlier. Where any amount of interest is credited to any account whether called Interest
This section is applicable from 1st june 2015. Notwithstanding anything contained in this Act, the trustees of the Employees’ Provident Fund Scheme, 1952, framed under section 5 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 or any person authorised under the scheme to make payment of accumulated balance
Persons responsible for deducting TDS Any person responsible for paying to a non-resident, not being a company or to a foreign company, any interest (other than under section 194LB,194LC or 194LD) or any sum chargeable to tax other than salary. If the payment made is in the nature of salary
Every person responsible for deduction of tax shall file quarterly TDS return as per section 200(3) of Income Tax Act, 1961. However no TDS return is required to be filed if TDS is not required to be deducted during that quarter. Due to this, the Income Tax Department has been
Provisions of this section is applicable from 1st June 2017 A new section 194IB has been introduced from 01st June 2017. This section requires certain individuals or HUF to deduct TDS on rent paid for the use of any land or building or both. Persons required to deduct TDS under
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