TDS for Resident and Non Resident Discussion about TDS, Applicability, Limits, Section, Form 26As and Form 16.
1. TDS: • TDS stands for Tax Deduction at Source.
2. TDS Deduction , Deposit and Certification Process
3. Applicability of TDS
4. TDS which is deducted on the specified Transaction mentioned under Income Tax Act. These Transactions are given below with their Section and their Limits. 192 Salary Income Limits: As per Basic Exemption limit & Deduction 193 Interests on Securities Limits: 50,000 TDS rate in % 10%, if no pan than 30% 193 Interests on Debenture Limits 5,000 TDS rate in % 10% 194 Dividend other than listed company Limits NA TDS rate in % 10% 194A Interest other than on securities by Bank. Limits 5,000 TDS rate in % 10% 194D Payment of Insurance Commission. Limits 15,000 TDS rate in % 5% 194I Rent of Land , Building and Furniture Limits 2,40,000 TDS rate in % 10% 194I Rent of Plant & Machinery Limits 2,40,000 TDS rate in % 2% 194C Payment to contractor/ Subcontractor. Limits 1,00,000 TDS rate in % 1%
5. Applicability of TDS on Non Resident Indian ( NRI)
• In case of NRI, TDS will be deducted only on that incomes which are liable to tax in India or earned at the source of India.
6. Due Date for Payment / Depositing TDS / Return filed 7. 26AS and Form 16A https://www.youtube.com/channel/UCpLA...
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