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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
A Form 16 is a certificate issued to salaried class to acknowledge the deduction of TDS from their salary by the employer. [9] It must be issued by 15 June of the following year for which it is being issued. For the F.Y. 2017–18, the due date for issue of Form 16 shall be 15 June 2018.
This proposal offers significant relief to the salaried class and pensioners, including family pensioners, through the extension of the standard deduction benefit to the new tax regime. Individual can forego ₹75,000 in total taxable income while ₹25,000 can be claimed in family pension.
A regular person likely doesn’t think twice about the color of their credit card. Their focus is usually just on making sure the balance is paid in full each month.
Most of the union-represented salaried people work in engineering jobs or medical positions at the plants, company and union sources said. It is also the first time, since salaried workers ...
Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits. The move comes thanks to $2 billion in additional profit ...
TDS threshold TDS 192: Salary: Exemption limit: As specified in Part III of I Schedule 193: Interest on securities: Subject to provisions: 10% 194A: Other interest: Banks – ₹10,000 (under age 60); ₹ 50,000 (over 60). All other interest – ₹5,000: 10% 194B: Lottery winnings ₹10,000: 30% 194BB: Horse-racing winnings ₹10,000: 30% 194C ...
Men who work for New York City receive a median salary that’s $21,600 higher than their female counterparts’, and white workers’ median salary is $27,800 higher than Blacks’, according to ...