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Form 16D is a TDS Certificate issued for payment of a commission, brokerage, contractual fee, the professional fee under section 194M by the payer. Under Section 194M if the payments to resident contractors and professionals exceed INR 50,00,000 during the Financial Year, the payer has to deduct tax at the rate of 5% from the sum payable to a ...
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 ...
10% (professional services) 0% (exports) Taxation in Egypt El Salvador: 30% 0% 30% 13% Taxation in El Salvador Equatorial Guinea: 35% 0% 35% 15% Taxation in Equatorial Guinea Eritrea: 34% — — — Taxation in Eritrea Estonia [94] 0% (20% on distribution or 14% on distribution below the 3 previous years average)
Profession tax is the tax levied and collected by the state governments in India. It is a direct tax. A person earning an income from salary or anyone practicing a profession such as chartered accountant, company secretary, cost accountant, Software Engineer, lawyer, doctor etc. are required to pay this professional tax.
Circular 230 refers to Treasury Department Circular No. 230. This publication establishes the rules governing those who practice before the U.S. Internal Revenue Service (IRS), including attorneys, certified public accountants (CPAs) and enrolled agents (EAs).
An individual taxpayer must report his or her total income for the year. Certain deductions are allowed in determining "net income", such as deductions for contributions to Registered Retirement Savings Plans, union and professional dues, child care expenses, and business investment losses. Net income is used for determining several income ...
Note: The audited party has the right to ask for the credentials, like professional identification cards, from the tax auditors so as to see their authority. The tax audit is to be conducted during the official FTA operating hours, unless the Director-General decides to conduct the audit of a business outside regular hours, in an exceptional case.
Persons providing professional or personal services are often subject to such fees. Common examples include accountants, attorneys, barbers, casinos, dentists, doctors, auto mechanics, plumbers, and stockbrokers. In addition to the tax, other requirements may be imposed for licensure. All 50 states impose a vehicle license fee.