Sections in TDS
Sections in TDS
|
v Section |
v Nature of
Payment |
v Threshold (In
Rs.) |
v Rate |
|
v 192 |
v Salaries |
v - |
v - |
|
v 194A |
v Interest (Bank) |
v 40000 |
v 10 |
|
v 194B |
v Winning from
Lotteries |
v 10000 |
v 30 |
|
v 194H |
v Commission/
Brokrage |
v 15000 |
v 5 |
|
v 192A |
v Premature
withdrawl from EPF |
v 50000 |
v 10 |
v
Date to deposit TDS
v 7 Days time after the month is over is the time
allowed to deposit the amount along with the challan.
v Quarterly Returns:
v Apr-Jun - 15 July
v Jul-Sept - 15 Oct
v Oct-Dec- 15 Jan
v Jan-Mar – 15 May
v Threshold Limit are generally updated on and off by
the government of India. We have to be updated with the budget and other
updates that keep on getting revised.
v 26 AS- Deductee can see who all have deducted his tax.
v 15G/15H – TDS se bachne k liye.
v 16 – TDS Salary Certificate
v 16A- TDS Certificate
|
v
Section |
v
Nature of Payment |
v
Threshold (In Rs.) |
v
TDS Rate |
|
v
194H |
v
Commission/Brokerage |
v
15000 |
v
5 |
|
v Invoice Amount |
v TDS Rate |
v TDS Amount |
v Payment to
Deductee |
|
v 20000 |
v 5 |
v 1000 |
v 19000 |
v If you are in FY 2019-20, then when you pay its tax in
FY 2020-21,in ITR, you can claim the refund of TDS.
v For eg:
v Net taxable amount will be zero
v Let’s see more example
|
v
TDS Deducted |
v
IT Payable |
|
v
1000 |
v
2000 |
v Tax payable in
this case will be Rs. 1000 (2k-1k).
|
v
TDS Deducted |
v
IT Payable |
|
v
1000 |
v
600 |
v Claim a refund of Rs. 400 (1000-600).
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