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Union Budget 2019: 2% TDS imposed on cash withdrawal exceeding Rs 1 crore to encourage digital transactions

Centre on Friday introduced a two per cent TDS (Tax Deducted at Source) on cash withdrawal exceeding Rs 1 crore in a year from a bank account. The Union Budget 2019 proposed this to encourage digital payments and cashless economy and to promote digital payments.

Jul 05, 2019, 15:16 PM IST

CBDT extends due date for filing of TDS statement in Form 24Q

It has also extended the due date for issue of TDS certificate in Form 16 for financial year 2018-19 from June 15 to July 10

Jun 05, 2019, 16:01 PM IST

CBDT extends due dates of TDS compliance to deductors in Odisha

CBDT has done so to redress genuine hardship faced by the deductors due to the severe disruption of normal life and breakdown of communication systems caused by cyclone Fani in Odisha.

May 25, 2019, 10:06 AM IST

Senior citizens with taxable income up to Rs 5 lakh can seek TDS exemption on bank interest

Earlier, the limit for seeking Tax Deducted at Source (TDS) exemption was Rs 2.5 lakh.

May 24, 2019, 13:03 PM IST

CBDT allows manual filing by resident, NRI taxpayers for nil or lower TDS certificate

The CBDT has also allowed resident applicants to file manual application in Form No. 13 before the TDS officer or in ASK Centers till December 31.

Dec 26, 2018, 13:56 PM IST

Submit these documents to avoid paying excess TDS

Generally, an employer deducts tax from your salary and pay it to the government known as Tax Deducted at Source (TDS).

Jan 25, 2018, 10:43 AM IST

Online I-T grievance redressal facility launched at 60 offices

After launching the ambitious e-nivaran facility for online redressal of taxpayers' grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country.

Feb 15, 2017, 15:25 PM IST

CBDT to taxman: Step up TDS survey ops to boost collections

With the current financial year inching towards closure, CBDT has directed the taxman to step up survey operations to check non-deduction of TDS by firms and employers, especially in cases where such payments have dropped by more than 15 percent as compared to last time.

Feb 10, 2017, 13:06 PM IST

Budget 2017: Govt unveils string of measures towards Ease of Doing Business

Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore; Threshold for maintenance of books for individuals and HUF more than doubled.

Feb 01, 2017, 14:17 PM IST

HC junks Vodafone plea against IT demand of over Rs 7.5 crore

The Delhi High Court on Friday dismissed Vodafone's plea challenging a demand of over Rs 7.57 crore imposed on it by the Income Tax department for not deducting TDS for the assessment year 2013-14 on discount given to distributors towards sale of recharge coupons.

Jul 22, 2016, 18:45 PM IST

No TDS on PF withdrawal: Key facts you must know

EPFO has issued a new circular circular which will make PF withdrawal tax free.

Jun 03, 2016, 11:00 AM IST

Must watch video: Good news! No TDS on PF withdrawal

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Jun 02, 2016, 10:52 AM IST

Learn about the ways to file income tax return

Return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at 

Apr 17, 2016, 18:33 PM IST

I-T emphasis on creating awareness on TDS

Income Tax department is emphasising on creating greater awareness on tax deducted at source (TDS) compliance.

Jan 31, 2016, 19:27 PM IST

Easwar panel on I-T for raising threshold for TDS deduction

A high level panel on simplification of income tax laws on Monday recommended raising the threshold limits for deduction of tax at source (TDS) as also slashing the rate of withholding tax.

Jan 18, 2016, 15:20 PM IST

TDS threshold to be increased; Know what are the benefits

TDS rates for interest income and commission need to be rationalized, the committee suggested that these should be halved to 5 percent.

Jan 18, 2016, 10:44 AM IST

I-T Dept simplifies online rectification of TDS in ITR

Aimed at making life easier for tax payers, the I-T department on Thursday said it simplified the process of online rectification of incorrect details of tax deducted at source (TDS) filed in the income tax return (ITR).


Dec 10, 2015, 17:59 PM IST

CBDT simplifies procedure for filling 15G, 15H forms

Forms 15G and 15H are filed by persons whose incomes are below the taxable threshold, to seek exemption from TDS on interest income.

Sep 30, 2015, 16:17 PM IST

SpiceJet says no default on TDS obligations

With a Delhi court summoning SpiceJet and its former executives in income tax cases, the budget carrier Wednesday said it has not defaulted on any tax-deducted at source (TDS) obligations.

Jul 22, 2015, 21:55 PM IST

Court summons SpiceJet, Kalanithi Maran as accused in IT cases

Budget carrier SpiceJet Ltd, its Chairman Kalanithi Maran and another top company official have been summoned as accused by a Delhi court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) Department.

Jul 21, 2015, 17:29 PM IST