TDS Entry In Tally Prime In Telugu|| TDS Complete Guide On Tally Prime|| What Is TDS.

Описание: TDS Entry In Tally Prime|| TDS Complete Guide On Tally Prime|| What Is TDS.
TDS Examples -
1. Office Rent paid to rs.50000/- vamsi.
By Rent a/c dr
To vamsi a/c
2. Commission paid to Krishna rs. 20000/- ctrl + f tds deductions short cut key
Commission a/c dr
To Krishna a/c
TDS stands for Tax Deducted at Source. It is an indirect way of collecting income tax at source by the government of India. TDS is managed by the Central Board for Direct Taxes (CBTD). TDS is levied on incomes earned from incentives and commissions, dividends, payment earned for various services, sale, rent and purchase of immovable property, fixed deposits, etc. The deduction of TDS varies based on the source of your income and it ranges between 1% to 30%. The person on whom the responsibility of deducting tax is imposed has to deduct tax at source at appropriate rates and the deducted sum is deposited to the credit of government of India.
Nature of payment % of TDS
Payment of salary (Section 192) Normal slab rate
Payment of accrued due of EPF Scheme, to Employees which is taxable in their hand (Section 192A) 10%
Interest on securities (Section 193) 10%
Dividend¬¬ excluding the dividends mentioned in section 115-O (Section 194) 10%
Income received from interest other than “interest on securities (Section-194A) 10%
Income received from winning lotteries, crosswords, and games, etc. ( Section-194B / Section 194BB) 30%
Payment to contractors / sub-contractors (Section 194C) 2% for payments made to contractors who are not HUFs/individuals and 1% for payments made to contractors/sub-contractors who are HUFs/individuals
Insurance commission (Section-194D) 5%
Payment for life insurance policy (Section 194DA) 1%
Rent (Section 194-I) For plant and machinery 2%
Land, furniture, fitting and furniture-10%
Payment on transfer of immovable property excluding agricultural land Section (194- IA) 1%