TDS Certificate – Introduction Any person who is engaged in the deduction of TDS is required to issue TDS certificate. As per the Section 203 of the Income Tax Act, 1961 it is mandatory for all Deductors to deduct TDS. After deducting and depositing the TDS by due date in Government account, the Deductor has […]
Income Tax Slab Rate under New Tax Regime
Income Tax Slabs under New Tax Regime for Individuals A new Income tax slab Rates has been proposed under new tax regime through the Union Budget 2020-21. The Finance Minister of India, Smt. Nirmala Sitharaman has presented the Union Budget on 1st Feb, 2020. There is no change in the existing Income Tax Slab rates […]
Section 194K – TDS on Mutual Fund Dividend
TDS on Mutual Fund Dividend Income – Section 194K A New TDS section 194K introduced through Finance Bill 2020-2021 to levy TDS on Mutual fund dividend. [email protected]% shall be deducted on dividend income paid by company or mutual fund to its share or Unit holder. This Section will take effect from 1st April, 2020. Main […]
Section 194-O: TDS on Payment by e-commerce operator to e-commerce participant
Section 194-O: TDS on Payment of certain sums by e-commerce operator to e-commerce participant A New section 194-O introduced through Union budget 2020 to levy TDS on Payment of certain sums by e-commerce operator to e-commerce participant. Provisions of Section 194-O of the Income Tax Act: As per the provision of Section 194-O, an e-commerce […]
Income Tax Slab Rate for Financial Year 2019-2020
New Income Tax Slab & Rate in India for Financial Year 2019-2020 Dear reader, in this post we are going to update you about the latest Income Tax slab & rate for Individual applicable in financial year 2019-2020. In India, Income tax is levied on individual taxpayers on the basis of a income slab system. In […]