Income Tax Deduction Tds

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  Link PAN With Aadhaar By May 31 To Avoid Double Income Tax Deduction

  The income tax department today asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate.

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  No Penalty For Short TDS Deduction If PAN Linked With Aadhaar By May 31

  As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.

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  Government Attempting To Link TCS With TDS: Chief Economic Advisor

  The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted, according to a senior official.

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  Employers To Ask Employees About Preferred Tax Regime For Deducting TDS

  The Income Tax Department on Wednesday said employers will have to seek details from employees about their preference for tax regime in the current fiscal and deduct TDS accordingly.

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  All India Bar Association Welcomes Tax Survey Of BBC Offices

  The All India Bar Association (AIBA) on Tuesday congratulated the Income Tax Department for conducting surveys of BBC's documents to check irregularities relating to international taxation and Tax Deducted at Source (TDS) transactions.

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  Moonlighting Can Have Tax Implications, Warn Income Tax Authorities

  According to Section 194C of the Income Tax Act, anyone who pays a fee to a residential individual for carrying out contract work must deduct TDS.

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  Burdened By Excess TDS Deduction? Here's How You Can Claim A Refund

  Here's how to claim your excess TDS deductions refund

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  What You Need to Know About Crypto, NFT Laws in India

  The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...

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  Social Media Influencers, Doctors To Pay TDS On These benefits

  There are some exemptions announced by the Central Board of Direct Taxes, which include discounts being offered by sellers.

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  Explained: Difference Between Income Tax and TDS (Tax Deducted At Source)

  There is a lot of difference between income tax and TDS. Both the taxes have a different mechanism when it comes to computing them

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  What Does Each Item In Your Salary Slip Mean? Read

  Salaried individuals receive salaries periodically from their employer, mostly on a particular date.

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  Filing Tax Returns Early? Here's What You Need To Know About Form 26AS

  Form 26AS is a consolidated annual tax statement that shows the details of taxes

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  New TDS Rule From July 1 To Affect Doctors, Social Media Influencers: All You Need To Know

  The Union Budget had brought in the provision of TDS to check tax revenue leakage by inserting a new section, 194R, in the Income Tax Act, 1961.

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  10 Changes Coming Into Effect From April 1 For Next Financial Year

  Several new tax rule changes are coming into effect from April 1, when the new financial year begins. These include tax rules on Employee Provident Fund (EPF) interests, Tax Deducted at Source (TDS), and crypto-assets.

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  Crypto Mining Cost Not Allowed as Deduction Under I-T Act: Finance Ministry

  Cost incurred in the mining of cryptocurrencies or any virtual digital assets (VDA) will not be allowed as deduction under the Income Tax Act, Minister of State for Finance Pankaj Chaudhary said on Monday.