tds News

TDS, TCS deductors can apply for GST registration from Sep 18

As per the Central GST (CGST) Act, the notified entities are required to collect TDS at 1 per cent on payments to suppliers of goods or services in excess of Rs 2.5 lakh.

Panel recommends halving TDS rate to 5%

In its 78-page draft report, the Justice R V Easwar panel said that TDS provisions need to be made more tax friendly and not as ‘tedious’ as they have remained over the years.


Failure to pay TDS collected can attract 7-yr jail term: CBDT

Failure to deduct income tax on salaries of employees or defaulting in payment of the same to the government will be liable to a penalty of an equivalent amount, the CBDT said.

Sham Das: Jailed Havaldar privy to the secrets of disbanded unit

hile a list of what was contained in the CD became part of subsequent legal record, its precise contents are known only to the Military Intelligence and, probably, the Intelligence Bureau.

Insurance policies with low cover to attract TDS on surrender

This will be applicable to policies that are not covered under Section 10 (10D) of the Income Tax Act.

Govt prunes negative list, more services under tax bracket

Now, companies will be responsible for paying the service tax on the services of independent directors instead of the directors themselves. In a move to plug the leakage of revenue, the Budget 2014-15 has said the service tax payable by independent directors for the services provided to the company will now be paid by “body […]


I-T dept raids Hiranandani group properties

Hiranandani group is a major real estate player in Mumbai with its flagship post project located in Powai.

Industry unhappy with hike in VAT processing fee

SAD-BJP government has increased the VAT processing fee.

Govt warns tax deductors who fail to deposit TDS by due date

In a stern warning,the Revenue department today said tax deductors who default in depositing TDS by due date will be liable for prosecution and can be imprisoned for up to seven years.

Govt sniffs 'scam' in the Rs 3.56 lakh cr outward remittances segment

Over 70 per cent of remittances going out of India are under scanner.