Tax on Fixed Deposit, rate of interest
News | August 10, 2023 18:12 ISTTax on Fixed Deposit, rate of interest
Tax on Fixed Deposit, rate of interest
Form 16 is a record of Tax Deduction at Source (TDS), and it conveys the subtleties of complete expenses paid in a monetary year by a salaried citizen. The TDS certificate that an employer issues at the conclusion of a financial year is known as Form 16.
ITR Filing: If your income is below the exemption limit, send in Forms 15G or 15H right away to avoid the TDS on your investments.
The EOW sleuths arrested the person on September 9. He was produced before the Court of J.M.F.C, Faridabad, and brought to Bhubaneswar on transit remand the police said.
Providing clarification on the 1 per cent tax deducted at source (TDS) on e-commerce transactions, the CBDT on Tuesday said that that the payment gateway will not be required to deduct the tax under section 194-0 of the Income-Tax Act on a transaction, if the tax has been deducted by the ecommerce operator under the section concerned of the Act, on the same transaction.
The income tax department has amended the TDS form, making it more comprehensive and mandating deductors to state reasons for non-deduction of tax.
The Central Board of Direct Taxes (CBDT) has extended the validity of forms 15G and 15H by three months to June 30, 2020 and prevent banks from deducting TDS on interest income of individuals.
The Central Board of Direct Taxes (CBDT) on Tuesday clarified that the budget proposal of 10 percent TDS will be applicable only on dividend payment by mutual funds and not on the gain arising out of redemption of units.
Further tightening the noose on global eCommerce giants like Amazon and Walmart-owned Flipkart, the Indian government has announced mandatory TDS deduction on e-commerce transactions for the participants on the e-marketplaces.
Are you a salaried person and earning over ₹ 2.5 lakh per annum? Then this news is important for you. The Income Tax Department has reiterated that employers must cut tax at source at 20 per cent or a higher rate if the employees do not provide PAN and Aadhaar details to the employer.
Domestic carriers IndiGo, SpiceJet and GoAir have pitched for TDS (tax deducted at source) relief for expat pilots. The airlines have claimed that foreign pilots insist on a tax-free salary, knowing that India faces a shortage of experienced pilots at senior level.
Plugging loopholes, the government on Thursday brought an amendment to its Budget proposal to levy tax on high value cash withdrawals, saying a two per cent tax will be charged if aggregate cash withdrawal from one or more accounts exceeds Rs 1 crore.
The Income Tax Department Friday extended the due date for depositing tax deducted at source (TDS) for the month of April 2019 from May 7 to May 20 for deductors in cyclone-hit Odisha.
Among other things, the revised Form 16 will also include details of deductions in respect of interest on deposits in savings account, and rebates and surcharge, wherever applicable.
While the government expects you to pay taxes honestly, make sure you make use of its exemption schemes to the fullest
The government said the postponement of the provision relating to TDS and TCS of the Central GST and State GST Act, 2017 it to provide more time
As many as 2.5 crore salaried tax payers will now receive SMS alerts from the Income Tax department regarding their quarterly TDS deductions. Finance Minister Arun Jaitley today launched the SMS alert service for Tax
New Delhi: The government today raised the threshold limit of Provident Fund (PF) withdrawal for deduction of tax (TDS) from existing Rs 30,000 to Rs 50,000, as per a senior official. This implies that no
New Delhi: A court here has issued summons to SpiceJet, its chairman Kalanithi Maran and another top company official in two tax evasion cases.Additional Chief Metropolitan Magistrate Pritam Singh on Monday issued summons to Maran, the company
Chennai: Media baron and promoter of Sun TV group Kalanithi Maran on Thursday said they were not tax dodgers and the media was being fed stories about the group and him by people with vested interests."Given
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