WebNov 9, 2024 · u/s 194J – TDS to be deducted @ 10% on the technical/professional services, u/s 194DA – TDS to be deducted @ 1% on Premium paid for any life insurance policy etc. The Rate of tax for intra-state supply is @ 2% [i.e. 1% for CGST & SGST/UTGST component each] & for inter-State supply it is @ 2% [as IGST]. 5. Registration. WebNov 9, 2024 · u/s 194J – TDS to be deducted @ 10% on the technical/professional services, u/s 194DA – TDS to be deducted @ 1% on Premium paid for any life insurance policy etc. …
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WebSep 13, 2024 · The monthly taxable amount owed will be subject to interest charges. In the case of TDS Return Filing, interest will be calculated monthly from the date the tax was due except for the last date (1%) or remitted to the government (1.5%). TCS has a 1% interest rate. The TDS and TCS differ greatly in all respects. WebJan 29, 2024 · Sujit Talukder Friday, January 29, 2024. Section 194JA and Section 194JB are not the engrossed sections or provisions in the Income Tax Act, 1961 (“Act”) but are segregated section codes for the section 194J of the Act for the purpose of filing of e-TDS return to distinguish deduction of tax (TDS) under section 194J either at 2% or 10%. the pseudo labels
Difference Between TDS and TCS (with Comparison …
WebAnswer (1 of 48): TDS is Tax deducted at source. It is a part of Income tax which is already deducted at the source of income. Let me explain you the logic behind this. Illustration 1: Chris Gayle comes to India every year. He plays for Royal Challengers Bangalore. He earns a huge amount of m... WebApr 15, 2024 · TDS and TCS are conceptually quite similar as both of these are forms of tax collections governed by the Indian Income Tax Act of 1961. But, when it comes to specific … WebJul 1, 2024 · The income tax would be filed with the government. During that time, TDS would be the indirect method of relieving a person’s tax liability in which the deductor of … the pseudoscience of eugenics