How to apply tds what is provisions of tds of company
Our seniors please guide me
TDS means Tax deducted at source on specified payments ,income as prescribed by the Income tax act 1961 by person who are liable to deduct Tds at prescribed rate by income tax Act . So it is the duty of the company to deduct TDS as per rate mention in the income tax act and deposit with the GOVT account in every succeeding month for whole F.Y . for i.e.TDS deducted in the month of April deposit with challan at bank on or before 5 th of may .
All payments & income where TDS to be deducted are in section 192 to secton 206B of the income tax act 1961 .
you have file quarterly retrun in form 24q for salary and others 26q,and 27q for dividend and so on . for deductions of TDS
Tds deducted in whole year is applicable for deductiion at time of final assessment of income tax payable by your company
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