TDS Rate Chart

TDS Rate Chart for FY 2014-15 (AY 2015-16)

Frequently Used TDS Rates & Related Provisions Financial Year 2014-2015 (AY 2015-2016) A new section 194DA has been introduced in Budget 2014 under which sum received from insurance company will be liable to TDS at 2%. Read more: Tax on Insurance Maturity Policy I have not added section 194DA in...
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TDS on Life Insurance Policy

Tax on Insurance Policy Maturity Amount

Section 194DA: 2% TDS on Life Insurance Policy Maturity Amount Current Scenario Currently, under section 10(10D) any sum received from life insurer is not taxable if the premium paid does not exceed 10% of the sum assured. Taxpayer would be liable only if he has paid premium more than 10% of the sum...
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How to Avoid TDS in Fixed Deposits?

How to Save TDS on Fixed Deposit Interest?

How to Avoid TDS on Fixed Deposit Interest in India? Last year return of fixed deposit beat both Nifty returns and returns from gold. While investors in gold faced negative returns, the Nifty gained just 6.6 per cent in 2013. Bank fixed deposits pre-tax returns had generated as much 9-9.5 per cent. Keeping...
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Tax-Credit

How to Convert 26AS Text file to Excel File?

What is Form 26AS? Form 26AS is a consolidated Tax Credit Statement issued under rule 31 AB of Income Tax Rules of India to PAN Holders. Form 26AS shows the amount of Tax Deducted (TDS) from your income and is available as credit against your tax liability, if any. Let’s say you have a fixed deposit...
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Tds on Service Tax Amount

TDS on Service Tax Amount under New Rule

 TDS not to be Deducted on Service Tax Component shown Separately Whether to deduct TDS on Service Tax Amount? This question had always put deductor in difficulty. The question always comes that whether TDS is to be deducted on the entire amount of the invoice i.e. including service tax or only on the...
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Stay on Late Filing fee of TDS Statement

Stay granted on levy of fee for failure to file TDS Return u/s 234E

HC stays Late Filing Fees u/s. 234E for late filing of TDS/TCS Return Kerala High Court has granted interim stay on Levying of Fees for failure of filing TDS/TCS statement on time under section 234E. Section 234E which was inserted by Finance Act, 2012 provides a late fee of Rs.200/- per day’s...
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FVU 4.1 and FVU 2.137 released by NSDL

FVU 4.1 and FVU 2.137 released by NSDL

FVU for quarterly e-TDS/TCS statement pertaining to FY 2010-11 onwards Download e-TDS/TCS FVU.exe (Version 4.1) FVU 4.1 New features/Validation Deletion of deductee record: Feature to delete the deductee record has been discontinued. In case the user wishes to nullify a deductee record/ transaction,...
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