The document provides information about Tax Deducted at Source (TDS) in India. It explains the logic and purpose of TDS, how TDS works, applicable rates and due dates for different types of transactions like salaries, rent, professional fees, etc. It also discusses compliance requirements and penalties for non-compliance with TDS obligations. Special cases are illustrated for better understanding of TDS calculations.
Imposition of Penal Interest u/s 220(2) by TRACES - How to avoid it ?Akash Mahagaonkar V
We are quite aware of the fact that each of us have been receiving quite a lot of communications from TRACES [ the TDS Processing Cell ] on Justification reports, Intimations, Demands, etc. Many of us have also been receiving Hard-Copy Letters to this effect from TRACES.
One may sometimes wonder why such a huge amount of flow of Information ! It does make us a lot uncomfortable & we would want it to be sorted out as soon as possible.
One such email TRACES sent out on 21st of February talks about imposition of Penal Interest u/s 220(2) if actions are not taken by the Deductors ( Employers / Companies / We ).
This PPT is a recording of the webinar conducted by Relativity Management Solutions to talk in detail about the various issues deductors are facing & solutions to it.
In a presentation for Atainz, Terry Baucher of Baucher Consulting (www.baucherconsulting.co.nz) explains how to handle an IRD Audit & what to do should the IRD come calling.
Baucher also goes into detail about the difference between an IRD Audit and an IRD Review and how each should be treated.
This presentation was given on behalf of Atainz in March 2013
Imposition of Penal Interest u/s 220(2) by TRACES - How to avoid it ?Akash Mahagaonkar V
We are quite aware of the fact that each of us have been receiving quite a lot of communications from TRACES [ the TDS Processing Cell ] on Justification reports, Intimations, Demands, etc. Many of us have also been receiving Hard-Copy Letters to this effect from TRACES.
One may sometimes wonder why such a huge amount of flow of Information ! It does make us a lot uncomfortable & we would want it to be sorted out as soon as possible.
One such email TRACES sent out on 21st of February talks about imposition of Penal Interest u/s 220(2) if actions are not taken by the Deductors ( Employers / Companies / We ).
This PPT is a recording of the webinar conducted by Relativity Management Solutions to talk in detail about the various issues deductors are facing & solutions to it.
In a presentation for Atainz, Terry Baucher of Baucher Consulting (www.baucherconsulting.co.nz) explains how to handle an IRD Audit & what to do should the IRD come calling.
Baucher also goes into detail about the difference between an IRD Audit and an IRD Review and how each should be treated.
This presentation was given on behalf of Atainz in March 2013
Migration to GST- Will a retailer get TAX Credit for the Excise duty?Piyali Parashari
As the GST date draws closer, retailers are worried about what to do with Stocks lying with them on 30th June 2017. Will they get credit for Excise Duty on these stocks? Also what steps are to be taken for being GST ready........
Tax forum 2016 recent tax changes and white book recommendations follow up (2)Anthony Galliano
CEO of Cambodian Investment Management and Eurocham Tax Committee Chairman, Anthony Galliano, gave a presentation at the Eurocham Cambodia Tax Forum 2016 on Recent Tax Changes and White Paper Recommendations
Eurocham Cambodia held a Tax Forum in Sieam Reap, June 8th, 2018 with conjunction with the General Department of Taxation and Industry Experts. Attached are the presentations made.
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
OBJECTIVE
The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in the Parliament on 5th February, 2020 and subsequently amended. The webinar shall deal with the frequently asked questions relating to the scheme. It shall discuss the issues faced by the taxpayers in the dispute resolution scheme.
Tally introduces at the leading GST Suvidha Provider with a powerful GST enabled accounting software. Are you ready for GST? KMPL is the leading certified 5 Star partner of Tally Solutions
Tax Fact 2013/14 provides you information on income tax provisions of Nepal applicable for year 2013/14, with a general explanation of income heads, when tax is charged, residence and source concept, Withholding tax rates, and overall tax process.
How Global Companies Can Successfully Address Threats to Withholding Tax Comp...Ryan
This presentation focuses on the risks associated with incomplete or inaccurate global withholding tax policies and procedures. We identify the areas most vulnerable to over and underpayment, as well as discuss strategies designed to mitigate the associated risks. This presentation with a greater understanding of some of the pitfalls associated with operating in today’s global landscape and how best to navigate the complexity of multinational operations.
Watch the full webinar presentation of these slides here http://ow.ly/VvwzO.
Migration to GST- Will a retailer get TAX Credit for the Excise duty?Piyali Parashari
As the GST date draws closer, retailers are worried about what to do with Stocks lying with them on 30th June 2017. Will they get credit for Excise Duty on these stocks? Also what steps are to be taken for being GST ready........
Tax forum 2016 recent tax changes and white book recommendations follow up (2)Anthony Galliano
CEO of Cambodian Investment Management and Eurocham Tax Committee Chairman, Anthony Galliano, gave a presentation at the Eurocham Cambodia Tax Forum 2016 on Recent Tax Changes and White Paper Recommendations
Eurocham Cambodia held a Tax Forum in Sieam Reap, June 8th, 2018 with conjunction with the General Department of Taxation and Industry Experts. Attached are the presentations made.
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
Sample paper ICAB, KL, Study Manual
OBJECTIVE
The Direct Tax Vivad se Vishwas Bill, 2020 was introduced in the Parliament on 5th February, 2020 and subsequently amended. The webinar shall deal with the frequently asked questions relating to the scheme. It shall discuss the issues faced by the taxpayers in the dispute resolution scheme.
Tally introduces at the leading GST Suvidha Provider with a powerful GST enabled accounting software. Are you ready for GST? KMPL is the leading certified 5 Star partner of Tally Solutions
Tax Fact 2013/14 provides you information on income tax provisions of Nepal applicable for year 2013/14, with a general explanation of income heads, when tax is charged, residence and source concept, Withholding tax rates, and overall tax process.
How Global Companies Can Successfully Address Threats to Withholding Tax Comp...Ryan
This presentation focuses on the risks associated with incomplete or inaccurate global withholding tax policies and procedures. We identify the areas most vulnerable to over and underpayment, as well as discuss strategies designed to mitigate the associated risks. This presentation with a greater understanding of some of the pitfalls associated with operating in today’s global landscape and how best to navigate the complexity of multinational operations.
Watch the full webinar presentation of these slides here http://ow.ly/VvwzO.
E-commerce and Permanent Establishment (International Tax Systems). .
I tried to show in a pleasant and direct way, during my LL.M. course of International Tax Systems, how a fictional corporation, "Luigi's", is led to adopt tax avoidance schemes taking advantage of the newest information technologies. And how OECD has taken action against these abuses.
My presentation at the Seminar on Understanding of DTAA organized on Saturday, 18th July, 2009, by the Western India Regional Council of Chartered Accountants (WIRC)
This PPT is mainly on the basics of International Taxation which is confusing for many students and many professionals too nowadays. During this evolving world of multinational culture, International Taxation has gained significant importance of which all the professionals should be aware of.
I have tried to compile the concepts of international taxation in this PPT except the concept of Transfer Pricing which in itself is like a whole book.
I have inserted the core concepts which lead to the emergence of International Taxation in India.
The Top Skills That Can Get You Hired in 2017LinkedIn
We analyzed all the recruiting activity on LinkedIn this year and identified the Top Skills employers seek. Starting Oct 24, learn these skills and much more for free during the Week of Learning.
#AlwaysBeLearning https://learning.linkedin.com/week-of-learning
Protect your employees and their families through this self – financing social security and health insurance scheme, Professional Tax is levied by the state government on the income earned by professionals. Get the information about Tax Deducted at Source (TDS) Returns, ESI Returns and Professional Tax Registration and the Process.
Objective and Agenda:
To understand the procedure of registration under GST in Singapore. The webinar shall dwell upon other aspects like threshold limit for GST registration, due dates for filing return, benefits and limitation of GST etc. Further it would provide insights on penalty for non compliance, audit requirements and GST schemes introduced to help businesses.
Various sections and sub-sections are discussed in detail for e-filling of returns. Certain sections are discussed and pan card provisions are involved.
Vertical Eye Financial Solutions is a Partnership firm which is into Taxation, Consultancy and Financial Management services catering to a wide variety of clients throughout India since 2008.
We provide best services Like Tax Consultant, Insurance and Investment Consultant and Property Related Services Provider in Vadodara.
Impact of Modi Budget 2014 on Specific Sectors...
Dear Friends,
It gives us a pleasure to present the summary of India Budget Synthesis 2014.
While you may already have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2014 on You, Your Company and Your Sector.
Hope you find this analysis useful in taking clearer business decisions and align your company's strategy with the overall economic climate in the balance part of financial year 2014-15.
Would love to hear your feedback on the usefulness of the same."
Regards,
Vishal Thakkar | Group Head - Corporate Relations | Synthesis Group
Hand Phone: 91 9320007891 | Boardline: 91 22 24093737 | Fax: 91 22 24093737
This Report answers questions on the makings of a modern day Tech CFO - the career paths, their personalities and the insights they use.
CFOs are the first line of defense from potential financial adversity.
They can also be the asset that allows companies to really expand their horizons rapidly.
Today, the CFO is a connector – the bridge between business, data & goals.
Yet, so little is spoken about these enablers.
So, we decided to shift the spotlight onto them.
What this report focuses on could address questions like:
who are they?
what is their education arc?
how has their career graph been?
what insights do we have about their personality style?
what makes them tick & what ticks them off?
when faced with rapid momentum, do they fight/ take flight?
Hope you get some answers to questions you have had in a while. If you want to ask me something or explore assistance as a CFO, please feel free to hit us up at connect@prequate.in.
Right on Pivot, 2021
2 out of 5 unicorns today pivoted at least once in their journey. This document digs deeper to understand the art and science of successful pivots.
Here is what's inside:
What is a pivot? Is it only for startups? Is it only for tech?
Is a pivot something I need to consider for my organization?
Who pivoted and how?
How do I do a pivot the right way?
It contains showcases & deep-dives of some of the best known brands like Dropbox, Flickr, Instagram, Microsoft, Netflix, Practo, Shopify, Udaan, YouTube, Zetwerk.
State of Enterprises 2019, an annual study capturing insights of entrepreneurs who have built successful businesses, their challenges & how they dealt with them, insights on what to do & what to look out for while building your own business.
Release date: June 6, 2019
Equity/ Stock-based compensation is a method by which corporations use options to buy stock at subsidized/ no cost usually at a future date to incentivize, retain and reward their employees/ advisors.
SaaS (Software as a Service) has singlehandedly emerged as the single largest disruption in business model in the last decade. SaaS companies suddenly made available enterprise quality technology to people (and businesses) across the world. SaaS public companies made ~$70Bn (at a ~70% gross profit) while adding ~$700Bn in MCap on the Nasdaq.
But there is one thing that sets SaaS apart. A 70% gross profit means that the every $1 of revenue can add $0.70 to your profits & $9.5 to your enterprise value. Which makes for – Pricing, the single largest needle spinner (after the product and service, of course) in a SaaS companies life. Looking for that one small thing that makes a big change? Start here.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working hands-on with various organizations. They are for the limited purpose of educating the leaders of a company. The rationale and the procedure to be followed can vary significantly based on the context, stage, exact nature & size of the business.
Traditional finance is dead. Business has changed significantly over the last 2 decades. While this has opened up a new set of opportunities to reinvent the concepts of finance, a lot of businesses are being left behind as they grapple with issues that a proactive approach to finance could have easily avoided. All hail the new king of finance – Strategic Finance Thinking.
We get asked every other day by businesses we meet – So what is it that you do so differently? While this has become a part of our standard conversation, we thought of putting these thoughts together in a whitepaper that every SMB can use to define what they should be expecting from this new wave.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working with various organizations. They are for the limited purpose of educating the officers of a company. How this applies to your business can vary significantly based on the context, stage, exact nature & size of the business.
About when we added 1.75% to the topline of a technology companyPrequate Advisory
How it began
Gamma Private Limited is a 13 year old company providing IT & ITES services with a top-line of over USD 10Mn based out of India and US. Prequate was brought in to help Gamma improve their reporting and help study profitability at the project level.
Gamma was in a growth stage and wanted to improve their reporting standards and be able to determine profits for each LOB. They relied on accounting outputs and basic analysis for it.
Disclaimer: Gamma started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
About when we saved a manufacturing company ~20% on subcontracting costsPrequate Advisory
How it began
Beta Private Limited is a 15 year old well established manufacturing company with a top-line of approximately USD 3Mn based out of India. Prequate was brought in to help Beta manage further growth by analyzing and changing old systems and introducing future thinking.
Beta was in a mature stage and wanted to move to a people independent setup. They relied on experience and rule of thumb for determining the key controllable factors in their industry - pricing and costing mechanism.
Disclaimer: Beta started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
About when we renegotiated the acquisition price for a company to <50%Prequate Advisory
How it began
Ceyes Private Limited is a 13 year old company with SaaS based application in the education space with a team of over 100 employees. Prequate was brought in by the Diez acquirers to assess Ceyes renegotiate the acquisition price.
Ceyes had a good time tested product with great scalability and client delivery spanning several years. Over the next 3 years, they were aggressively expanding their footprint across 2 new countries.
Disclaimer: Diez started a limited engagement that allowed Prequate to perform a fit assessment, a detailed due diligence of the company and assist in negotiations of the asking price of Ceyes for a take over of the company.
How it began
Alpha Limited is a 5 year old company providing IT & ITes enabled services with a top-line of over USD 6Mn based out of India. Prequate was brought in to help Alpha manage growth during the period of rapid scaling.
Alpha was in a spurt stage with idea of expanding its service visibility overseas. They relied on a set of marketing consultants for their on-ground presence in the overseas locations.
Disclaimer: Alpha started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
Leveraging the power of collaboration for a technology companyPrequate Advisory
From the year 2000, a massive shift occurred quietly to most, but daringly to a few. A few large organizations saw the change that was occurring. In 2007, when I was consulting with a large $Bn technology bellwether from my alma mater, I remember how this disruption, so new and so unique, was being viewed as the single largest transformation in the industry way before most of the world heard of this disruption. This arrived with the perfect storm co-created by cloud system deployment capabilities and the penetration of high speed internet. With these forces aligned, it created the SaaS disruption. It took 10 years though for its proliferation to be the product of choice for all industries. It uniquely positioned itself to productise systems and frameworks and create workflow environments which were hitherto accessible only toby the big companies at a fraction of the expense. It did something else which was more succinct though. Now companies were suddenly getting familiar with having open systems and integrations and allowing outsiders in – a fundamental shift in thinking which has changed everything.
Since the availability of the internet in the 1990s, the tech industry has centered on the transformation of the data revolution from the industrial manufacturing led revolution. Today, it stands in the trillions of dollars and is the single largest addition to wealth in the last 20 years (over 45% of Total Market Cap in NASDAQ are tech companies in 2017). This information in the internet age has been touted as the fourth industrial revolution (The Global Information Technology Report 2016, World Economic Forum).
Tech is here to stay.
It may come as no shocker to tech firms across the world. Tech services as an industry has been slowing down. Large enterprises don’t seem to be buying as frequently and fervently as before. Smaller development projects seem to have dried up. Growth estimates (Gartner Q1 2017) to 2020 hint at a 3% CAGR over the next 3 years. At the same time, for the first time in history, the 5 most valuable firms in the world are technology companies. If the logic of stock price being indicative of future earnings, something seems to not add up!
Being someone who has been working with clientele in the tech sector for over a decade, right from the heyday years of 2006, I have had the opportunity to be an insider in the most opportune moments as well as the grimmest. CAGRs of 10-12% seemed to be insufficient to capture an entrepreneur’s imagination. Now it’s at 3%. Is there reason to be worried? Yes and No.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
From Tedious to TDS | Entrepreneur's guide to withholding taxes in India
1. ™
MAKING
TDSNOT
SO TEDIOUS
A performance enablement company
An entrepreneur’s guide to withholding taxes in India
360 FINANCE for recurring business services transactions
4. When do I need to comply with TDS?
DUE DATES FOR PAYMENT OF
TDS
April May June July Aug Sept Oct Nov Dec Jan Feb
31st
of the month
immediately
following the
month of
transaction
March for transactions up to March 30
of April for transactions on March 31 30th
7th
March
5. What are the transactions that attract TDS?
TRANSACTIONS THAT ATTRACT
TDS
Salaries Interest
Payments to
Contractors/
Sub
Contractors
Commission
or Brokerage
Professional
and
Technical
Services
Rent
6. Payment Covered Taxable Salary of the employee
Time of deduction At the time of payment only
Threshold Limit On any amount which does not exceed the
Rate At an average rate of tax, computed based on
Exception if PAN is not
Provided
basic exemption limit after deductions and/or
exemptions
the slab rate for the relevant Assessment Year
The rate of TDS will be higher of, the rate in
force or 20%
All emoluments by
what ever name
called which are
taxable
This applies to all the
remaining
transactions on which
TDS is applicable
SALARIES Section 192
7. Payment Covered Amount Payable as Interest
Time of deduction At the time of payment or credit, whichever is
earlier
Threshold Limit INR 10,000 per annum
Rate @10% of the amount exceeding the Threshold
Limit as above
Applies only to
Interest earned from
Depositing money in
banks or other
institutions
INTEREST Section 194 A
8. Payment Covered Consideration payable towards Contracts and/or
Sub Contracts
Time of deduction At the time of payment or credit, whichever is
earlier
Threshold Limit In case of a Single Payment = INR 30,000
In case of Multiple Payments = INR 75,000
(Considered per annum per Payee)
Rate 1% if the payee is Individual or HUF
2% if the payee is any other category of Person
• Advertising
• Goods Carriage
• Catering
• Job Work
• Broadcasting and
telecasting etc.
(examples not
limited to above)
CONTRACTORS Section 194 C
9. Payment Covered Amount Payable as Commission or Brokerage
Time of deduction At the time of payment or credit, whichever is
earlier
Threshold Limit INR 5,000 per annum
Rate @10% of the amount exceeding the Threshold
Limit as above
Includes any payment
received or receivable,
directly or indirectly, by a
person acting on behalf of
another person or for any
services in the course of
buying or selling of goods,
not being securities.
COMMISSION / BROKERAGE Section 194 H
10. Payment Covered Amount Payable as Rent
Time of deduction At the time of payment or credit, whichever is
earlier
Threshold Limit INR 180,000 per annum
Rate – Land and building
Rate – Plant & Machinery
@10% of the amount exceeding the Threshold
Limit as above
@2% of the amount exceeding the Threshold
Limit as above
• Land
• Building
• Land Appurtenant to
Building
• Machinery
• Plant & Machinery
• Equipment
• Furniture & Fixtures
RENT Section 194 I
11. Payment Covered Amount Payable as Fees for Professional
and/or Technical Services and Royalty
Time of deduction At the time of payment or credit, whichever is
earlier
Threshold Limit INR 30,000 per annum
Rate @10% of the amount exceeding the Threshold
Limit as above
• Professional Services are
those notified by the Income
Tax Dept
• Technical Services means any
consideration for the
rendering of any managerial,
technical or consultancy
services”.
PROFESSIONAL / TECHNICAL Section 194 J
12. TDS on FEES FOR PROFESSIONAL OR TECHNICAL SERVICES &
PAYMENTS TO CONTRACTORS AND SUB-CONTRACTORS
When Service tax is charged on Amount of consideration by the Payee, should I
make TDS on Invoice amount or the amount exceeding Service tax?
TDS has to be made on the entire amount of the Invoice including Service Tax.
TDS on RENT
When Service tax is charged on Amount of RENT paid to the Payee, should I
make TDS on Invoice amount or the amount exceeding Service tax?
TDS has to be made only on the amount of RENT. Service Tax should not be
included while making TDS..
Payment of TDS
Am I required to make payment of TDS electronically?
Any Company Yes. Compulsory electronic payment
Any other person
(say, Firm/ Proprietor etc.)
Compulsory electronic payment if covered by Tax
Audit
FAQs
13. Special
Case
Fact 1
On April 1, 201X, XYZ Ltd. has engaged Mr. X to perform services in the
nature of professional services. He has to be paid the following sums:
June
INR 10,000
July
INR 10,000
August
INR 5,000
CALCULATING TDS
Action Payments made were as follows:
June
July
August
INR 10,000
INR 10,000
INR 5,000
No TDS deduction made
as the aggregate does
not exceed threshold of
INR 30,000 for Sec 194J
Base
scenario
Payments for professional fees were made to Mr. A as follows in the
month of January of INR 100,000:
Fees payable INR 100,000 TDS @ 10%
AMOUNT PAYABLE TO
Mr. A
January INR 100,000 INR 10,000 INR 90,000
14. Action Payments made in the month of September will be:
Fees payable TDS PAYABLE
Invoice amount INR 10,000 INR 1,000 INR 9,000
TDS Recovered June
July
August
INR 1,000
INR 1,000
INR 500 INR (2,500)
Total payment (after recovering earlier TDS dues as threshold limit
was crossed during the FY) INR 6,500
Special
Case
Fact 1
On September 1, 201X, XYZ Ltd. Decided to extend further work to Mr. X for which
the payment would be:
September
INR 10,000
October
INR 10,000
November
INR 10,000
CALCULATING TDS
17. The contents of this document are solely for informational purpose. It does not
constitute professional advice or a formal recommendation. While due care has been
taken in preparing this document, the existence of mistakes and omissions herein is not
ruled out. Neither the author nor Prequate and its affiliates accepts any liabilities for
any loss or damage of any kind arising out of any inaccurate or incomplete information
in this document nor for any actions taken in reliance thereon. No part of this document
should be distributed or copied (except for personal, non‐commercial use).
™