tds related

146 views 4 replies

Durai Raj

16 Points Posted on 16 May 2018

i have a doubt regarding TDs calculator on income tax website. in these calculator, at amount of payment column I am feed minimum amount (I.e, 1000) it calculate TDs amount 20. is this correct? why I am telling this question, in income tax act 1961 tell single payment exceed 30,000 or multiple payment exceed 1,00,000 per financial year then only TDs deducted at respective rates, but these TDs calculator shows calculated TDs amount against that act. please explain which one is correct.

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212352 Points Posted on 17 May 2018

Read the footnotes...........

Note 1: Consider tax treaties before determining the rate of withholding tax under Section 195.

Note 2: Monetary limit for TDS applicability should be considered while determining TDS liability.

Advisory: Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.

Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. It is advised that for filing of returns the exact calculation may be made as per the provisions contained in the relevant Acts, Rules etc.