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Home > TDS
TDS
The provision is set to come into force from October 1.
Govt exempts cash payments above Rs 1 cr via AMPC from 2 pc TDS
17 Sep 2019 9:09 AM

Government had made the provision of levying 2 per cent TDS on cash withdrawals exceeding Rs 1 crore.

Cases where non-payment of TDS is Rs 25 lakh or below, and the delay in deposit is less than 60 days from the due date, shall not be processed for prosecution in normal circumstances, the taxman’s circular stated. (Photo: Representational)
Income Tax Department eases criminal prosecution norms for TDS, ITR filing defaults
12 Sep 2019 12:34 PM

CBDT has laid down a new criteria to ensure only 'deserving cases get prosecuted'.

Cash withdrawal prior to September 1, 2019, will not be subjected to the TDS.
2 pc TDS on cash withdrawals of over Rs 1 crore from Sep 1: Tax dept
31 Aug 2019 11:09 AM

If a person has already withdrawn Rs 1 cr or more in current fiscal, the 2 pc TDS shall apply on all subsequent cash withdrawals.

Taxpayers can get multiple benefits by filing income tax returns before the deadline.
7 benefits of filing your income tax return
14 Aug 2019 2:54 PM

To avoid penal actions, ensure that you file your income tax return on or before the August 31, 2019 deadline.

The Central Board of Direct Taxes (CBDT) extends the 'due date' for filing of Income Tax Returns from July 31, 2019 to August 31, 2019 in respect of the said categories of taxpayers, the finance ministry said in a statement. (Representational image)
Govt extends due date for filing ITR for 2018-19 by a month till Aug 31
23 Jul 2019 8:21 PM

There have been demands for an extension in filing ITR date since issuance of TDS statement for 2018-19 fiscal was delayed.

The amendment, along with 28 others, were approved by a voice vote by the Lok Sabha, which passed the Finance Bill 2019. (Representational Image)
Cash withdrawal from multiple accounts to be aggregated for levying 2 pc TDS
19 Jul 2019 9:43 AM

Two per cent tax will be charged if aggregate cash withdrawal from one or more accounts exceeds Rs 1 crore.

CBDT has issued a notice dated June 4, 2019 extending the due date for employers to file their TDS returns from June 30 to July 10.
Will income tax filing deadline be extended from July 31?
13 Jul 2019 1:42 PM

Tax payers have to pay special attention this year on account of the changes in the forms.

Growth stimulation, promoting affordable housing and incentivizing digital economy have been the key focus areas of the first full budget presented by Modi 2.0 government.
Budget 2019: 6 key takeaways that can impact your personal finance
12 Jul 2019 10:58 AM

Apart from keeping the tax slabs unchanged, there are a number of budget proposals that will impact your personal finance.

The tea body said that the imposition of two per cent TDS would compromise with the liquidity position of the tea estates.
Tea industry seeks exemption of TDS on cash withdrawal
06 Jul 2019 2:56 PM

The tea body said that the wages paid to the tea garden workers were both in cash and in kind.

Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised. (Photo: ANI)
Budget 2019: Cess on petrol, diesel hiked by Re 1 per litre
05 Jul 2019 2:26 PM

Finance minister also announced TDS of 2 per cent on cash withdrawal of more than Rs 1 crore from a bank account.

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