New Delhi: The form for tax deducted on source (TDS) has been amended.
The new form has been made more comprehensive and mandates deductors to state reasons for non-deduction of tax. Also, banks will have to report TDS for cash withdrawals above Rs 1 crore.
The Central Board of Direct Taxes (CBDT) has issued a notification through which it has amended Income Tax Rules to include TDS on e-commerce operators, dividend distributed by mutual funds and business trusts, cash withdrawals, professional fees and interest.
The format of forms 26Q and 27Q — where details of TDS amount deducted and deposited on various resident and non-resident payments are to be filled – have been altered.
Form 26Q is used for quarterly filing of TDS returns electronically on payments other than salary to Indian residents by the government or corporates in India.
New Delhi/Bhubaneswar: While the 43rd India International Trade Fair (IIYF) enters its fifth day in…
Bhubaneswar: A team of AIIMS in Bhubaneswar saved the life of a young man, whose…
Mumbai: It's known to all that all is not well in Abhishek Bachchan and Aishwarya…
Cuttack: All cultural programmes at Cuttack Bali Jatra scheduled for Monday have been cancelled in…
New Delhi: India has got its 56th Tiger Reserve. Located in Chhattisgarh’s Ramkola, the Guru Ghasidas-Tamor…
Bhubaneswar: The Odisha government will start the procurement of kharif paddy at a mandi in…
Bhubaneswar: A 200 years old Banyan tree outside Lingaraj Road railway station in Odisha capital…
New Delhi: Whenever Prime Minister Narendra Modi embarks on overseas visits, the Indian community never fails…