ACCOUNTING & TAXATION Impact of reduction in TDS/TCS Rate As we all know that the government has recently decreased tax deduction at source (TDS) and tax collection at source (TCS) rates for interest, dividend, professionals, rent payments and other non-salaried payments by 25 per cent with effect from May 14, 2020 for the current financial … Read More →
ACCOUNTING & TAXATION TDS on Salary for FY: 2020-21 & Format to Opt Tax Regime Finance Act, 2020 has introduced optional based filing for individual and HUF whereby these types of assesses have to choose option amongst new and old tax slab rates at the time of filing of ITR. This type of filing is … Read More →
ACCOUNTING AND TAXATION Amendments in TDS/TCS applicable from FY 2020-21: Amendments in the Provisions of of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) applicable from Assessment Year 2021-22 (i.e. Financial year 2020-21) Through the Finance Act 2020 (which have received the assent of the President of India on 27th March 2020), the … Read More →