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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.
In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
Tax deducted at source (TDS) is applicable on recurring deposits in India. If the interest earned on recurring deposits exceeds Rs. 40,000 a year, TDS at the rate of 10% would be deducted by the bank. Income tax is to be paid on interest earned from a Recurring Deposit at the rate of tax slab of the Recurring Deposit holder. Investors with no ...
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This new law on TDS on cash withdrawal has come into effect from July 1, 2020. As per the provisions of section 194N of Income Tax Act, if a person withdraws more than 1 Crore from the specific payers , then the payers will deduct TDS on such transaction and deposit it.
Shamsud-Din Jabbar used a rare explosive in New Orleans that has never before been used in a U.S. or European terrorist attack. A key question is how he learned of the explosive and managed to ...
It's just so wrong. Dogs come in all sorts of temperaments. Some are gregarious, while others need a little time to warm up. Annabelle is clearly one of the latter ones.
Jan 5, 2025; Arlington, Texas, USA; Washington Commanders quarterback Jayden Daniels (5) runs the ball against the Dallas Cowboys during the second quarter at AT&T Stadium.