Table of Contents
·
1.
Who is liable to deduct TDS :
·
2.
When TDS is to be Deducted:
·
3. Rate of TDS for financial years 2019-20
and 2020-21:
·
4. Where No Tax is to be Deducted at Source:
Related Posts:
· Deductions Chart
& Table - [Sections 80A to 80U (Chapter VIA)] Sections
Particulars Assessee to whom Allowed Quantum of Deduction Section 80A/AB/AC
Basic rules of deductions NA NA Section 80C Deduction…
· Interest Payable
By / To Assessee under Income Tax Act 1. [Section
234A]- Interest Payable by the Assessee for default in furnishing Return of
Income U/s 139(1) The assessee…
· Penalties &
Prosecutions under Income Tax Act. 1. Penalties
under Income Tax Act. The various defaults in respect of which Penalty can be
imposed by the Income…
· Input Tax Credit
or ITC under GST Under the GST regime. the Centre will give
input tax credit for Central GST/IGST and the States will give input…
· ‘Residential
Status’ under Income Tax Act. 1956 1. Residential
Status of an Individual [Section 6(1)] According to the residential status, the
assessee can either be: (i) Resident…
· Permanent
Account Number (PAN) [Section 139A and Rule 114] 1.
[Section 139A (1)]- Who has to apply for PAN?: Every person who has not been
allotted a permanent account…
· Assessment of an
‘Individual’ An individual means a natural person i.e.
human being. Individual includes a male, female, minor child and a
lunatic or…
· Deduction Under
Section 80A to 80U (Chapter VIA) from Gross Total Income The
aggregate of income computed under each head, after giving effect to the
provisions for clubbing of income and set…
· [Section 201]-
Consequences of failure to Deduct TDS or pay TDS (1)
[Section 201(1)]- Assessee to be deemed as assessee in default Where any
person, including the principal officer of a…
· Tax Invoice ,
Credit and Debit Notes under Section 31, 33, 34 of CGST / SGST Act, 2017 GST
Acts give immense importance to invoice and named it as tax invoice because it
is one of the most…
· Appeals &
Revisions under Income Tax Act. 1. First Appeal
Filed by the Assessee The first appeal against the order of Assessing Officer
shall lie to the…
· Tax on Total
Income of a Company 1. Rates of Income Tax of a
Company other than covered U/s 115BA A company is assessed like any other…
· [Section 194C]-
TDS on Payment to Resident Contractor (i)
Any person responsible for paying any sum to any
resident contractor for carrying out any work (including supply…
· Mode of
Availability of Input Tax Credit (ITC) in Special Circumstances under Section
18 The provisions of section 18 are given below –
1. Fresh GST Registration– The case of fresh registration, covered
by…
· Location of
Supplier and Place of Supply of Goods and Services under GST Law The
basic principle of GST is that it should effectively lax the consumption of
such supplies at the destination thereof…
· GST Return under
GST Act. A GST Return is a summarised statement furnished by
the tax payer to the tax administrators containing details of specified…
· Penalties under
Income Tax Act. The various defaults in respect of which
Penalty can be imposed by the Income Tax Department are summaries in details.…
· [Rule 12]- Form
and Manner of Furnishing Return of Income As per rule 12(1),
The return of income required to be furnished under section 139(I) or 139(3) or
139(4A) or…
· Computation of
Capital Gains in different Cases 1. Computation of
‘Capital Gain’ in case of ‘Zero Coupon Bonds’ The profits arising on the
transfer of such zero…
· [Section 190 to
206CA]- Deduction and Collection of Tax at Source (TDS & TCS) Tax
Deduction at Source (TDS) and Advance Payment [Section 190] Although regular
assessment in respect of any income is to…