TDS | azlyrics.org.uk

The Centre’s move to reduce the rate of tax deducted at source (TDS) and tax collected at source (TCS) by 25% is aimed at ensuring more funds for taxpayers and will benefit the self-employed, professionals and senior citizens dependant on interest or rental incomes.

Finance minister Nirmala Sitharaman on Wednesday announced a 25% reduction in TDS (tax deducted at sources) and TCS (tax collected at source) rate for the current financial year. This will release liquidity worth Rs 50,000 cr. The reduced rates shall be applicable for all types of transactions including the payment for contract, professional fees, interest, … Continue reading TDS rate for non-salaried payment cut by 25%

The Central Board of Direct Taxes (CBDT) has clarified in a notification issued on Monday that employers can rely on a declaration from employees and deduct tax at source (TDS) against salary income based on the concessional tax rates.

The Central Board of Direct Taxes (CBDT), in a notification issued on Monday, has clarified that employers can rely on a declaration from employees and deduct tax at source (TDS) against salary income, based on the concessional tax rates.

The tax department on Tuesday clarified that the Budget proposal of 10% TDS will be applicable only on dividend payment by mutual funds and not on gains arising out of redemption of units.