TDS compliance chart for FY 2024-25 TDS compliance chart for FY 2023-24: Here is a TDS compliance chart for FY 2024-25 (Assessment Year 2025-26) for non-government deductors: 1. Quarter – April to June: TDS Deduction Date: By the 7th day of the subsequent month TDS Payment Due Date: On or before the 7th day… Read More »
TDS Compliance TDS compliance, In India, the Tax Deducted at Source (TDS) compliance portal is an online platform provided by the Income Tax Department of India for TDS-related activities. The portal is known as the “TRACES” portal, which stands for TDS Reconciliation Analysis and Correction Enabling System. It offers various services and features… Read More »
Difference between ITR and TDS ITR (Income Tax Return) and TDS (Tax Deducted at Source) are distinct concepts related to income tax in India. ITR refers to the document filed annually by individuals or entities with the Income Tax Department. It includes the declaration of their income earned during a financial year, deductions claimed, and… Read More »
Who pays the TDS, the seller or the buyer TDS or Tax Deducted at Source is the amount of tax that is deducted from the payment made to a resident or a non-resident by the person making the payment. The responsibility to deduct TDS lies with the person making the payment, and not the recipient… Read More »
What is the rate of TDS deduction on dividend income The rate of TDS (Tax Deducted at Source) deduction on dividend income in India depends on the type of recipient and the amount of dividend income received. For resident individuals, Hindu Undivided Families (HUFs), and firms, there is no TDS on dividend income up to… Read More »
What is TDS on ESOPs TDS (Tax Deducted at Source) on ESOPs (Employee Stock Options) refers to the tax deduction made by the employer at the source from the income received by an employee upon exercising their stock options. ESOP taxation in India depends on rule. When an employee exercises their stock options, they receive… Read More »
Difference between TDS and Form-16 Difference between TDS and Form-16, Tax Deducted at Source and Form 16 are related to each other, but they are different concepts. Tax is the tax amount that is deduct by the person responsible for making the payment (the deductor), at the time of making the payment, from the income… Read More »
TDS entry in accountancy To make a TDS (Tax Deducted at Source) entry in accountancy, you would typically follow these steps: Create a ledger account for TDS under the head of duties and taxes. Enter the transaction in the journal voucher with the appropriate debit and credit accounts. To Visit: https://www.incometax.gov.in For example, if the… Read More »