As per the Gazette Notification issued on 29.09.2020, the new TDS rates for the period from 14.05.2020 to 31.03.2021. Government of India Directorate General of Works Central Public Works Department No. 158/SE(TAS)/2020/427 Dated: 05/11/2020 OFFICE MEMORANDUM Sub: Reduction in rate of tax deduction at source (TDS) In order to provide more funds at the disposal … Read more
Further, if the deductor/ collector has deducted/ collected shortfall of tax after 5th of July, 2019 from the transaction(s) made subsequently after the said date, interest, if any, for the delay in deduction/collection of such tax shall not be levied. Circular No. 8/2020 F.No.370133/5/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board … Read more
CBDT issues clarification on the applicability of TDS provisions on Mutual Fund dividend The Finance Bill, 2020 proposed to remove Dividend Distribution Tax (DDT) at the level of Company/ Mutual Fund and proposed to tax the same in the hands of share/unit holder. Also check: TDS on Income from Pension and Family Pension It was … Read more
Tax Deducted at Source (TDS) on Income from Pension and Family Pension In India more than one crore pensioners and family pensioners are getting pension under Central and State Government. The post contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2018-19 and … Read more