If an individual is liable to deduct TDS before making certain specified payments then it must be done at once. Otherwise the consequences will be dire. Further after deducting and depositing the TDS, an individual must also file a TDS challan cum statement form too. Failure to do so might attract penalty.
The Central Board of Direct Taxes (CBDT) has notified the rate of exchange for the purpose of deducting tax at source (TDS) on income payable in foreign currency.The board has inserted Rule 26 in the.
The Jammu & Kashmir High Court has held that the J&K State Rural Roads Development Agency (JKSRRDA) is exempt from TDS deduction on interest income accrued on Term Deposit Accounts.The bench of.