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| TDS |
TDS RATES CHART F.Y.2019-2020
FOR A.Y. 2020-2021
TDS STAND FOR (TAX
DEDUCTED AT SOURCE)
WHAT IS TDS ?
TDS Rates: It is a measure, in which a person who is making payment of income is responsible to deduct tax from such income ( at specific rates) and pay the only the net amount. Tax deducted at source (TDS) shall be deposited with the Government‘s treasury within the time period. The payer will issue a certificate in FORM 16 OR FORM 16A. The payee will get credited for TDS & his tax liabilities shall be reduced to that extent. The provisions are a mode of collection of income tax and a check on tax evasion through proper control & information.
FORM 16 OR FORM 16A:- ALL DEDUCTORS (INCLUDING GOVERNMENT DEDUCTORS WHO DEPOSIT TDS IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH BANK ENTRY) SHALL ISSUE TDS CERTIFICATE GENERATED THROUGH TIN CENTRAL FRAMEWORK WHICH IS DOWNLOADED FROM THE TIN WEBSITE WITH A UNIQUE TDS CERTIFICATE NOS.
Tds Rate Chart Page 1 Click Here to download
Tds Rate Chart Page 2 Click Here to download
Tds Rate Chart Page 3 Click Here to download
OBJECTS
· Quicker realization of tax.
· Effective realization of tax
The
several provisions in the act for TDS BEING DISCUSSED IN TDS CHART
AS PER PROVISION OF SECTION 206AA, IF RESIDENT PAYEE FAILS TO
PROVIDE HIS PAN, TAX IS REQUIRED TO BE DEDUCTED AT THE RATE MENTIONED IN
RESPECTIVE SECTION OR 20% WHICHEVER IS HIGHER.
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