Education Session

Filling of TDS (tax deducted at source) return   “TDS” is a direct tax and a means to collect tax at prescribed rates from the source of income. The amount of tax generated on income must deposited to government in prescribed manner after deducting the tax due. Now days “TDS” online filling being very convenient for depositing tax taken the whole concept of TDS returns. The returns may file to the prescribed website or portal recommended by govt. There are different software which can easily calculate and generates the “TDS” amount in various types of forms. it create e-returns for online filling and These software also liable for making TDS entries for particular during quarter or year.   How to calculate “TDS” payable   For calculating the tax due we can use software having facility to generate “TDS” returns after recording of all the necessary entries related to tax deducted at sources it generates forms 26q, 27Q etc. for calculating “TDS” entries you c...

  What TDS means ? TDS stand for " tax deducted at source " which means tax amount is deductible at source where income is generated. The collection of income is required by way of tax on income, dividends or assets sales. The tax payers are required to pay tax due before paying balance to the payee. TDS (tax deducted at source) TDS is part of direct tax collections by the government from every individual of the country. It collects taxes on prescribed rates from the source of income. TDS returns are filled in different forms prescribed in annual and quarterly returns. The income tax department has specified criteria for collection of TDS.  It has a great importance while conducting tax audits. The tax changed on specified criteria helps to the government to generate higher rate of revenue from people of country. Let us take an example of TDS Assuming the nature of payment is commission and brokerage on which the specified rate is 10%. XY Ltd makes a payment of Rs 60,000 towa...