To provide more funds at the disposal of taxpayers for dealing with the economic situation arising out of COVID-19 pandemic, rates of TDS have been reduced by 25% for following non-salaried specified payments. Here is the table of existing & new reduced rates : TDS Rate Chart For FY 2020-21 Pre & Post 14th May […]
TDS, TCS Reduced By 25% – Table Of Existing & New Reduced Rates (2020-2021) Read More »
Finance Minister Nirmala Sitharaman said that starting today, she will hold daily pressers along with her teams to detail a number of responses the government has prepared to bring the economy back on track. Deadline for filing ITR pushed till 30 Nov Due date of all IT Return filings extended have been extended from 31
Nirmala Sitharaman on Economic Package (13-May-2020) Read More »
To facilitate the employer to deduct tax at source (TDS) from salary, employees need to declare their tax-saving investments in the beginning of every financial year, i.e. in April. But this year, the nationwide lockdown, that has been imposed in the third week of March 2020 to contain the spread of highly contagious Novel Coronavirus
Government of India vide Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31.03.2020. notified relief measures related to Income Tax return filings, GST compliance, PAN-Aadhar linkage and other statutory and regulatory issues. Income Tax Act 1961 also covers under the Specified Act as per Para 2 of the ordinance. Extension of TDS Return (Q4 )
TDS (Income Tax) Deposit for March 2020 & Filing of Return (Q4) Read More »
The Central Board of Direct Taxes (CBDT), via a circular dated April 13, clarified that employers will have to deduct TDS from salary for FY 2020-21 as per the tax regime – new or old – chosen by the employee. If an employee wants to go for the new tax regime he/she must inform the employer of
How to choose the tax regime for TDS on salary for FY2020-21 Read More »
