More steps in the offing for timely fraud detection in banks: RBI

Budget 2019 analysis: Here’s what 5 key sectors expected and what they got

Finance Minister Nirmala Sitharaman with MoS Anurag Thakur and others leave the North Block to present the Budget for 2019-20 at the Parliament | Photo: PTI

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tax, income tax, TDS

tax, taxes

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Global bond yield plunges to record low in warning sign

Scanner on firms with low TDS collections

Graph

Budget may offer TDS relief to taxpayers

GST Council falters on service tax control

India trails in taxes, govt spending

Most corporate tax breaks may be phased out in FY18

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How to avoid TDS on your investments

Plan to raise capital gains tax period spooks many

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	Tax Deducted at Source or TDS was introduced to collect tax from the source of income. According to the Income Tax Act, anyone making a payment is required to deduct tax if the payment is crossing certain limits. The limits or the rates are prescribed by the Income Tax department. TDS is managed by the Central Board of Direct Taxes (CBDT), which comes under the Department of Revenue.</div>
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	The company or the person deducting the tax is called a deductor and the company or the person receiving the deducted payment if the deductee. The deductor is required to remit the tax into the account of the Union government and the deductee would be entitled to get credit of the amount taxed on the basis of Form 26AS.</div>
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	TDS is deducted on various types of payments. It is deducted on salaries, interest payments by banks, commission payments, rent payments, consultation fees, and professional fees. TDS is not required to be paid on rent payments or on fees paid to professionals like doctors, lawyers.</div>
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	<strong>TDS returns</strong></div>
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	TDS return contains the details of the deductions and has to be filed by the deductor.</div>
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	<strong>TDS rates</strong></div>
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	Different TDS rates are applicable on the payments depending on the nature of the payments.</div>
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	Section of the Income Tax Act makes it compulsory for every employer to deduct tax at source from the salary of employees. As per the tax laws in India, the rate of deduction depends on the income tax slab under which the employee&rsquo;s salary falls.</div>
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	However, TDS is applicable only when the amount crosses a certain limit which is prescribed by the Income Tax department. TDS will not be deducted if the payment amount does not cross the specified limit.</div>
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Learn what is TDS, TDS definition, TDS news TDS Rates and Returns and more here at Business Standard.

Page 7 - Latest Updates on TDS

Budget 2019 analysis: Here's what 5 key sectors expected and what they got

Senior citizens with income up to Rs 5 lakh can seek TDS relief on interest

NRIs should obtain TDS certificate in advance for lower deduction at source

Buying property from non-resident Indians subject to TDS under I-T Act

Scanner on firms with low TDS collections

Evasion of TDS by companies is set to become more difficult

Salaried tax payers will now get SMS alerts on TDS deductions

Govt expects Rs 46,739-crore TDS from Delhi region in 2016-17

CBDT relaxes rules for TDS claims by non-resident companies

How to avoid TDS on your investments

I-T dept to pay interest on TDS refund