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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. [1]
There was no change in the timeline for tax payment; however, if the deposit of Advance Tax is delayed, a reduced interest rate of 9 percent per annum, or 0.75 percent per month, [18] will be applicable instead of the current rate of 12 percent per annum, or 1 percent, for payment of all taxes falling between 20 March 2020 and 30 June 2020.
This form is directly related to the process of making a payment to a non-resident entity and deduction of Tax Deduction at Source (TDS) on the payment made, at the rates in force at the time. [ 3 ] As per Sub-Section (6) of Section 195 of the Income Tax Act of 1961, Form 15CA is required to be presented to the Reserve Bank of India before a ...
What it means for Fed rate cuts. Food. Food. Allrecipes. The 6 most dangerous expired condiments in your kitchen, according to experts. Food. Simply Recipes. Gwyneth Paltrow's popular chopped ...
By the fall of 1989, he and a few buddies started piecing the organ back together enough that “the Lord’s plan” made itself clear. This hobby would become a life.
Wilson is coming off one of his uglier passing lines of the season in the loss to Kansas City (205-0-1), although he managed to deliver a tolerable fantasy total thanks to 55 rushing yards, with a ...
Hindu Undivided Family (‘HUF’) is treated as a ‘person’ under section 2(31) [2] of the Income-tax Act, 1961. HUF is a separate entity for the purpose of assessment under the Act. [3] Except for Kerala, HUF is recognized throughout India.