Section Of Tds

Important sections tds chart.

Section of tds. The present article features the tds provisions contained under section 194j of the income tax act 1961 relating to the tds deduction on fees for professional or technical services. Tds certificates are of two types. Tds rates in 1.

Payment of accumulated balance of provident fund which is taxable in the hands of an employee. Form 16 and form 16a. From 1 april 2019 10000 p a.

From 1 april 2019 for senior citizens 50000 audit fees bills of professionals like ca cwa cs or technical service providers or consultancies covered. Form 15h is for senior citizens. 1 1 where the person is resident in india section 192.

In this post we will see the tds section list and the rates applicable for the current financial year for salaried non salaried and nris. Covid 19 and tds rates. Any person paying income is responsible to deduct tax at source and needs to deposit this tax within the time stipulated.

As per this concept a person deductor who is liable to make payment of specified nature to any other person deductee shall deduct tax at source and remit the same into the account of the central government. In the case of a person other than a company. The concept of tds was introduced with an aim to collect tax from the very source of income.

Employees on contract which are white collared covered here. Tds section and rate for salaried. It imposes obligation for tds deduction on persons other than individual huf making rental payments to resident indians above a specified limit i e.