Tax Deduction at Source

Though Tax is payable in the Assessment Year, Government collects tax on certain payments to safeguard its interest on revenue. Assessee can claim credit of such already deducted tax at the time of filing their returns. The compliance of Tax Deduction at Source (TDS) generally lies with the person making the payment. However, in certain cases, person receiving the income has also been assigned to comply with TDS provisions.

TDS on Salary of Employees

Know about Deduction of TDS on Salary

Section 192 of the Income Tax Act, 1962 deals with the provisions related to TDS in the case of Salary. Highlights of this section...

Know about TDS on Interest other than Interest on Securities [Section 194A]

Section 194A deals with TDS on interest other than the interest on securities. Provisions related to the TDS on interest on securities are in...

Know the TDS rates when you do not provide your PAN

Although in some cases, quoting of PAN for certain type of transaction is must, for most of the transactions quoting of PAN is optional...

TDS on Insurance Commission [Section 194D]

Section 194D deals with Tax Deduction on payment of insurance commission. This section casts responsibility on any person responsible for paying to a resident...

Know about TDS for Interest on Securities [Section 193]

Interest on Securities is taxable in India. Further, Section 193 of the Income Tax Act, 1961 provides for Tax Deduction at Source. This section...

Know about TDS on Payments to Contractors and sub-contractors [Section 194C]

Provisions related to Tax Deduction at Source (TDS) that are applicable on payments to contractors and sub-contractors are in Section 194C of the Income...

TDS on Payment of Dividends [Section 194]

Dividends attract dividend distribution tax @ 15% in the hands of the company. There is no liability to pay tax on individuals receiving it...