What is XVII-B of Income Tax Act?

What is XVII-B of Income Tax Act?

In exercise of the powers conferred under section 119 of the Act, the Board has decided that wherever in terms of the agreement/contract between the payer and the payee, the service tax component comprised in the amount payable to a resident is indicated separately, tax shall be deducted at source under Chapter XVII-B …

What is TDS PDF?

The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government.

How can I claim TDS other than salary?

How to claim ‘unclaimed TDS (Other than Salary)’

1. Browse to Taxes Paid >> TDS Tax.
2. Click on Add New button.
3. Fill up the necessary details. You may refer your 26AS or Form-16A given by the deductor. Click Next to Save details.

What are the exceptions for TDS deduction?

For the assessment year, 2020-2021 the exemption limit for an individual is Rs 2,50,000. Section 194B – TDS on winning from lottery, crossword or any game: A TDS of 30% is deducted from any amount received by the way of lottery, crosswords or any other game if the amount exceeds Rs. 10,000.

How many chapters are there in Income Tax Act 1961?

23 chapters
The Income Tax Act of 1961 is a comprehensive statute that sets the rules and regulations that govern taxation in India. The Income Tax Act contains a total of 23 chapters and 298 sections according to the official website of the Income Tax Department of India.

How can I download TDS certificate?

Step – 1 Send Request For Tds Certificate

1. Enter User ID and Password then login.
2. Click Download Button.
3. Form 16A.
4. Fill all details and click go button.
5. Click Submit Button.
6. Fill Details and click submit button.
7. Fill Details and click Proceed With Transaction.

How can I download Form 16 from income tax site?

Visit the official website of the Income Tax Department (https://www.incometaxindia.gov.in/Pages/default.aspx).

1. Under the ‘Forms/Download’ section, you will find the ‘Income Tax Forms’ option, click on it.
2. Next, you will find the ‘PDF’ and ‘Fillable Form’ options available under ‘Form 16’.
3. Click on the relevant option.

How can I download TDS return?

Steps to Download Conso File of TDS Return from TRACES

1. Log in to your TRACES account.
2. Navigate to Conso File.
3. Select the Financial Year, Quarter and Form Type.
4. KYC Validation.
5. Option 1: KYC Validation using DSC.
6. Enter the password of DSC and enter the following details:
7. Request for Conso File.

What is the minimum amount to deduct TDS?

When is TDS Deducted under section 192

Age	Minimum income
Resident in India below 60 years	Rs 2.5 lakh
Senior Citizens between 60 years and below 80 years	Rs 3 lakh
Super Senior Citizens above 80 years	Rs 5 lakh

Who is eligible for TDS refund?

You need to file a TDS refund claim when the employer has deducted more tax than the actual liability. You can claim the difference amount by filing an income tax return. You will have to provide the bank account number, name of the bank, and Indian Financial System Code (IFSC) details for successful processing.

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