WebThe Economic Times reported a hike in the TDS and TCS rates on non-salary payments, effective from 1st April 2024. For instance, if interest paid on a fixed deposit exceeds ₹40,000 between 1st April 2024 and 31st March 2024, then the lender will now deduct tax on the interest repaid at 10%. Previously this rate was 7.5% in FY 2024-21. Web20 Jan 2024 · Between May 14 2024, and March 31 2024, the rate of TDS deduction as per Section 194D for non-company individuals stood at 3.75%. ... Whereas Section 194DA …
TDS Course Online - TDS on Payments to Indian Resident - Sorting …
WebX- Section- 194DA- TDS On Payment In The Respect Of Life Insurance Policy. a) Applicability Of TDS Under Section 194DA. b) Rate Of TDS. c) Time Of Deduction Of TDS. d) Threshold … Web15 Jul 2024 · What are the manner and rate of deduction of TDS under section 194DA? A. Manner of deduction of TDS: Tax deduction is required only if the payment or aggregate payment in a financial year to an assessee is Rs. 1,00,000 or more. This is for alleviating the compliance burden on the small tax payer. B. Rate of TDS principally definition
Section 194DA of income tax act
Web13 Apr 2024 · 3,597 total views TDS Rate Chart AY 2024-25 (FY 2024-24) TDS Rate Chart AY 2024-25 (FY 2024-24) Section Nature of Payment Threshold Indv / HUF Others Rs. TDS … Web5 Jan 2024 · The TDS rate under Section 194A is 10% of the interest earned from the deposits made by individuals and HUFs. The tax is to be deducted at the source and … WebSection Code Nature Of Payment Threshold (in Rs.) TDS Rate ( in %) Indv/ HUF Others 194C A Payment to contractor/sub-contractor (30,000 per contract or Rs 1,00,000 for aggregate amount during /100,000the year) 30,000 ( single bill) p.a 1% 2% 194D Insurance commission 15,000 p.a 5% 10% 194DA A Payment in respect of LIC 100,000 p.a 5% 5% principal long term accumulation fund