Tds certificate of housing loan agent

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Dipti (Querist)
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11 March 2014 Hi..I am having queery regarding the TDS Certificate of Housing Loan Agent.
As Bank Deduct 10% TDS from their commission,so from where& when they should collect TDS Certificate ?
What is the procedure for TDS refund for HLC?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 March 2014 the TDS certificate is required to be issued for each quarter.

there no procedure of refund of TDS. you need to file the return and use credit of TDS against your tax liability...any excess tax paid by you or deducted by bank is refunded after processing of the tax return by the income-tax department

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Dipti

Dipti (Querist)
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11 March 2014 is the same process followed in case of TDS on contractor? What is the use of TDS Certificate?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 March 2014 the process is same for every TDS payment except for salaries where certificate is issued annually. well it is the valid proof that the taxes were deducted against the payments made to you

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Dipti

Dipti (Querist)
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11 March 2014 In case of TCS ,same procedure is followed?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 March 2014 Dipti, are you doing any research on your own...why dont you refer https://www.incometaxindiapr.gov.in/incometaxindiacr/ppt_html20081017/TDSTutorial/TDStrial10.html

https://incometaxindia.gov.in/Archive/TaxPamplets_GuideOnTDS_13022013.pdf

Dipti

Dipti (Querist)
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11 March 2014 Thanks Nikhil for sharing information.
I am not doing any reasarch, i just want to know actual process of TDS & TCS.
Thanks for sharing Links.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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11 March 2014 you are welcome......

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