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New TDS RPU and FUV utility released


New versions of e TDS TCS Return Preparation Utility RPU and File Validation Utilities FVUs are applicable from February 23 2017 onwards and available at https www tin nsdl com etds etcs eTDS download regular php 1 RPU Version 1 9 Java based For preparing and validating e TDS TCS Statement s and als

Strengthening of PAN quoting mechanism in the TCS regime


Statuary provisions for deduction of tax at source TDS at higher rate of 20 or the applicable rate whichever is higher in case of non quoting of Permanent Account Number PAN is provided under section 206AA of the Act and it exist since April 2010 PAN acts as a common thread for linking the informati

TDS rates reduced to 2% u/s 194J for call center business


Simplification of the provisions of tax deduction at source in case Fees for professional or technical services under section 194J The existing provisions of sub section 1 of section 194J of the Act inter alia provides that a specified person is required to deduct an amount equal to ten per cent of

Proposal to provide for grant of interest in case of refund of excess payment of TDS


Finance Minister announces several anti graft and rationalisation measures in the field of Income tax Accountants or merchant bankers furnishing incorrect information to face penalty Income of the Chief Ministers Relief Fund and the Lieutenant Governors Relief Fund to be exempt from tax Concessional

Next Level of TDS Compliance in Year 2017


Dear Deductor Centralized Processing Cell TDS wishes you Seasons Greetings and a Very Happy New Year 2017 The past year witnessed a fantastic journey for CPC TDS in many ways with your valued partnership as our key stakeholders While we observed all round healthy improvement in TDS Compliance throug

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Experts Opinions

Tds applicability


One of my client s T O for f y 15 16 was below 1cr now for f y 16 17 T O is above 1cr and going u s 44AD n not going for Audit due to limit of 2cr Now is he liable to deduct TDS for f y 17 18

Tds on security deposit


A is our customer Mr A paid an advance for payments for security deposit to MSEB to us and we paid security deposit to MSEB not to A because power meter in our name MSEB paid interest on security deposit and recovered TDS Mr A recovered Interest and TDS from our bills We have also paid TDS while ded

Tds 194(j)


Dear Sir we paid excess amount to TDS Professional fee Company account so this amount adjust to next month or not pls suggestions what is the procedure

Illegal deduction of tds u/s 194c


I am involved in trading of finished goods After successful tenders I enter into a 1 year rate contract with customer govt entity to supply the goods at the fixed price for next 1 year Now that govt entity is deducting TDS 2 06 u s 194C on my invoice value Base Rate VAT deeming the contract to be wo

Tds applicability


Dear Experts our proprietary firm turnover is 1 crore 76 Lacs in FY 2016 17 the tax audit is applicable u s 44AB but we are going to opt sec 44AD Not for Tax audit plz let me know do we need to deduct TDS in FY 2017 18 Thanks Swati

Discussion

tds deduction rate in gst

wheter tds rate will be 1percent or 2percent in intra state transaction

Retrenchment benefit tds applicable or not

we are give the full and final settlement to our employee the Retrenchment amount for Rs 280000 can anybody confirm is it applicable for TDS or not

TDS provisions

Under GST there is Provision of TDS purchase above 2 5 lacs by Govt organization how much TDS has to deducted under which law I e IGST CGST or and SGST

Tds on land equalisation charges

Dear All Experts Is deduction of TDS is applicable on payment of Land Equalisation Charges If yes then under which section and at what rate An early reply is highly appreciable Thanks Best Regards

Interest on TDS

Under which section is the interest on delayed remittance or short remittance of TDS disallowed while computing profit as per PGBP

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File Download

  • TDS Mechanism

    NACEN TDS MECHANISM
  • Miscellaneous Transitional Provisions - Detailed Analysis

    To watch related Video https youtu be rNEMGg7zEZs https youtu be ruPoM3ZcLY4 https youtu be y5iOt X4f5w https youtu be kbsRHPGqSEk Section 142 1 Goods Returned after Appointed Date Section 142 2 PRICE Revision Section 142 3 REFUND CLAIM Filed under Existing Law Section 142 4 REFUND CLAIM Filed under Existing Law for Export Section 142 5 Tax Paid before Appointed Date Services not provided Section 142 6 proceeding of appeal review or reference relating to a claim for CENVAT credit under Existing Law Section 142 7 proceeding of appeal review or reference relating to any output duty or tax liability initiated Section 142 8 assessment or adjudication proceedings instituted whether before on or after the appointed day under the existing law Section 142 9 return furnished under the existing law Section 142 10 Contract entered earlier Section 142 11 Tax leviable under Existing Law Section 142 12 Goods sent on Approval Basis in Previous law Section 142 13 TDS liability under Existing Law Detailed Analysis of Section 142
  • Works Contract under GST

    Definition of Works Contract Input Tax credit TDS provisions under CGST Act Applicability
  • Custom Duty Calculation

    Excel calculator which can help to us for Custom duty calculation
  • Statutory bonus amount under Amended Payment of Bonus Act

    Statutory bonus amount calculator under Amended Payment of Bonus Act calculate amount payable for all employees as per the act After amendment calculation has become tricky and with the help of this template you can make it easy for multiple employee PM me for any doubt and help

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Articles

TDS Obligation under existing law and under GST


The following article contains a brief analysis of the TDS obligation under existing laws and GST TDS obligation Section 51 of the CGST SGST Act Sl Elements Under existing Law Proposed under GST 1 Acts Governed Respective state VAT laws CGST SGST Acts 2 Type of Contract Works Contract Any Contract 3


TDS defaults when amount is payable to a Resident


In my earlier article I have made a discussion about the disallowance when the amount is payable to a non resident foreign company but TDS is not deducted by the payer Section 40 a ia deals with the situation when the amount is payable to a resident Herein also we will discuss the complete scenario


TDS default on payment to Non Resident


DISALLOWANCE U S 40 a i of the Income Tax Act 1961 TDS DEFAULT ON PAYMENT OF ANY NATURE OTHER THAN SALARY TO A NON RESIDENT FOREIGN COMPANY In this article I am going to have a discussion on Section 40 a i of the Income Tax Act 1961 Which deals with disallowance of certain business expenditure in ca


TDS controversies - Top 25 rulings pronounced in 2016


Dear All We have another 6days for the wonderful year 2016 and as Sam Levenson say Dont watch the clock do what it does and Keep going Over the years the judicial forums have pronounced immense tax litigation involving issues pertaining to TDS I was just trying to recollect which ruling on TDS I sho


Transporters: Whether liable to TDS u/s 194C on Furnishing of PAN?


There were certain amendments which were made in Section 194C 6 by Finance Bill 2009 Amendment made at that time was as follows The Small Transport Operators as defined in Section 44AE of Income Tax Act 1961 not owing more than 10 goods carriages at any time during the year were not liable to TDS u


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Updated on : 6/25/2017 1:30:11 AM


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