Solution to problems faced in Income tax Returns by Salaried Assessees There are few cautions which are often ignored thereby resulting into complications being faced by Salaried Assesses while filing Income tax Returns.Quite some number of times it so happens with people working in Corporate that a Professional would visit them, take their respective Tax […]
Tag Archives: Tds Deduction
Salary earners has to inform in the beginning of the year to their employers about all saving, deductions, etc for Tax to be deducted from their salary receivable in the financial year 13-14. Accordingly Tax deduction can be made correctly and paid to the government after considering other incomes and deductions of the employee. At […]
Every person responsible for deduction of tax under Chapter XVII-B shall, in accordance with the provisions of Section 200(3), submit the following Quarterly Statements to the Director General of Income Tax (Systems) or the person authorized by the Director General of Income Tax (Systems), namely-
When the employers are in the process of start asking your proofs for your investment declaration which you submitted for your tax & TDS calculation from your salary. It is not only the responsibility of the employer and also responsibility of the employee to give proper income and investments details to compute your tax to […]
As per Section 194A of the Income Tax Act, 1961, all banks and financial institutions have been mandatorily instructed to deduct TDS on all interest payments exceeding Rs.10000 in any financial year. Thus whenever any customer receives interest more than Rs.10000 from the Bank, then bank have to deduct TDS@ 10% on such Interest Income. […]