Explain TDS Basics

By | 2018-08-08T09:16:46+00:00 June 25th, 2016|Categories: Income tax basics|Tags: , , |

TDS   TDS, short for Tax deductible at source, is a way of indirect tax collection by the government according to Indian tax act, 1961. It is adjusted against the total tax liability of an assessee a percentage of the overall payment is withheld by the source that is making the payments. The source is then [...]

TDS on Bank Deposits

By | 2018-08-08T09:14:43+00:00 June 25th, 2016|Categories: Income Tax Guide|Tags: , , |

Tax Deducted at Source   What is TDS? TDS stand for Tax Deducted at source is a way the government collects tax from individuals, where the person making a payment is responsible to collect part of the payment as TDS (prescribed rate) and pay the money to government on behalf of the person earning the money. [...]

Save TDS on Interest Income

By | 2018-08-08T12:37:53+00:00 June 13th, 2016|Categories: Tax Savings|Tags: , , |

Using Form 15G & 15H The most popular investment plans, fixed deposit is also payable to TDS by the banks and financial institutions. All the banks and financial institutions must and should deduct TDS on all interest income more than 10000.  The banks will issue the form 16 to furnish your TDS and providing all the [...]