Tax Deductions (Chapter VIA of the Income Tax Act)
With a view to encourage savings and investments amongst the taxpayer, Income tax act allows various deductions from the taxable income under chapter VI A. The most common deduction is…
ALL ABOUT TAX DEDUCTED AT SOURCE (TDS)
Introduction The purpose behind introducing the concept of Tax deducted at source (TDS) is to collect tax from the source of income. Here, the person liable to make the payment…
Process to make the TDS payment through Electronic Mode
Tax deducted at source (TDS) must be deposited within the specified due dates. Below is the process to deposit TDS through electronic mode. Step 1: Go to NSDL’s website for…