# tds
12 posts in `tds` tag
TDS Rates 2024: A New Era of Tax Relief and Economic Growth
This blog post offers a condensed explanation of the new TDS rates, which go into effect on October 1, 2024, along with lower tax deduction rates for certain kinds of payments. In order to assure compliance with the updated tax legislation, it assists businesses and taxpayers in comprehending the ramifications of the changed TDS rates and making wise judgments.
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By Krishna
A Step-by-Step Guide to Decoding TDS CPC Notice under Section 200A
This blog post provides a comprehensive guide to the TDS CPC Notice under Section 200A of the Income Tax Act, 1961, explaining the contents of the notice, the procedure for responding to the notice and the consequences of non-response. The article is intended to help taxpayers understand this important tax provision and take the necessary steps to avoid legal action.
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By Krishna
TDS Rates Simplified: What You Need to Know from 1st October 2024
This blog article addresses the rationalization of TDS rates, which will take effect on October 1, 2024. It also covers the effects on individual taxpayers, the withdrawal of 20% TDS upon buyback by mutual funds and UTI, and the decreased rates for various sections. An summary of the modifications and how they affect the tax system is given.
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By Krishna
Understanding the Importance of Timely TDS Tax Return Filing
Timely filing of TDS returns is crucial for avoiding hefty penalties and ensuring compliance with India's tax laws.
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By Krishna
Recognizing and Addressing Income Tax Department Unpaid TDS Notices
This blog article offers a thorough explanation of how to reply to TDS notices that are outstanding and are delivered by India's income tax department. It goes over the justifications for these notifications, how to verify them, and a methodical process for properly replying to them. The article also describes the various letters that the income tax agency may send you as well as how to stay out of trouble with the law.
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By Krishna
Understanding the Nuances of Section 206C(1H)
This blog post provides a detailed explanation of Section 206C(1H) of the Income Tax Act. It covers the key points of the provision, including its applicability, types of payments covered, withholding rates, TDS requirements, and the importance of compliance. The blog aims to help individuals and businesses understand their obligations under this section and avoid penalties.
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By Krishna
Section 194R of the Income Tax Act: A Complete Guide
The Income Tax Act's Section 194R, which addresses the tax deduction at source (TDS) on payments made to resident contractors or professionals, is covered in detail in this blog. It goes over the main points of the section, such as the tax rate, exemptions, threshold amount, and penalties for not complying. The blog also gives advice on how to ensure compliance and offers insights into the real-world applications of Section 194R.
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By Krishna
New TDS Rates for FY 2024-25 and AY 2025-26: A Simplified Explanation
With effect from October 1, 2024, the updated TDS rates for FY 2024–25 and AY 2025–26 have been released. This blog discusses the effects on people and businesses and offers a comprehensive graphic of the updated TDS rates. To guarantee compliance with tax laws and to capitalize on the advantages provided by the new rates, it is imperative that individuals and corporations comprehend the revised TDS rates and their ramifications.
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By Krishna
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September 2024 important Income Tax Deadlines: Continue to Comply and Avoid Penalties
For taxpayers and tax experts, September 2024 is a crucial month because it has multiple important income tax deadlines. This blog offers a thorough summary of all important deadlines, ranging from TDS/TCS deposit and certificate issuing to advance tax payment and filing tax audit reports. This handbook guarantees that you remain compliant and keep out of trouble with a convenient chart for easy reference. It is essential for efficient tax management, regardless of whether you are an individual taxpayer or a business owner, to comprehend these deadlines.
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By Krishna
Compliance with Section 206C(1H): A Must for Specified Persons
The Income Tax Act's Section 206C(1H) requires tax deduction at source, or TDS, on specific income kinds that are credited or paid to non-residents. Certain entities, including corporations, co-ops, and government agencies, must deduct TDS from certain types of revenue, including interest, rent, royalties, and technical service fees. TDS is normally present at a rate of 20%, though specific circumstances may cause this to change. Interest and penalties may be incurred for breaking Section 206C(1H) regulations.
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By Krishna
Tax Alert: 5 Key Changes in TDS Provisions You Need to Know
Stay ahead of the tax game! Discover the 5 key changes in TDS provisions that impact you and your business. From salaried individuals to business owners, this blog post covers it all. Read now and stay updated!
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By Krishna
CBDT's Relaxation of TDS/TCS Provisions
The Central Board of Direct Taxes (CBDT) has introduced a relaxation in Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) provisions for cases where the deductee or collectee has passed away before linking their Permanent Account Number (PAN) with Aadhaar. This relaxation provides relief to family members and heirs of deceased taxpayers who may be facing difficulties in obtaining the refund of excess TDS or TCS deducted or collected. In this blog, we will delve into the details of this relaxation and its implications on taxpayers.
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By Krishna