TDS Compliance Here are some key features and services offered by the TDS compliance portal in India: 1.TDS Statement Filing: Taxpayers can file their TDS statements, including Form 24Q, 26Q, 27Q, and 27EQ, electronically through the TRACES portal. These statements contain details of tax deducted and deposited by the deductor. 2.TAN Registration:… Read More »
Difference between TDS vs TCS Difference between TDS vs TCS, TDS and TCS are both types of tax collection mechanisms in India, but they differ in their nature, purpose, and applicability. TDS TDS (Tax Deducted at Source) is a tax collection mechanism that requires a person to deduct tax at a prescribed rate from the… Read More »
Is fee paid to Non-Professional accountant subject to TDS TDS on fee of Non-Professional accountant is mandatory. The payment made to a non-professional accountant is subject to Tax Deducted at Source (TDS) as per Section 194J of the Income Tax Act, 1961. The applicable TDS rate for non-professional services is 10%, with a reduced rate… Read More »
Introduction Dividend income is a significant source of passive earnings for investors in India. However, it is subject to taxation, with the deduction of Tax Deducted at Source (TDS) playing a crucial role in the tax structure. Understanding the rate of TDS deduction on dividend income is essential for both individual investors and businesses 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 »
Is TDS Deductible on Interest Due to Late Payments to Creditors? Introduction Tax Deducted at Source (TDS) is an essential part of the Indian taxation system, ensuring that taxes are collected at the point of income generation. Businesses often face situations where they make late payments to creditors, leading to interest liabilities. This raises the… Read More »
