2. When should TDS be deducted and by whom? Any person making specified payments mentioned under the Income Tax Act are required to deduct TDS at the time of making such specified payment. But no TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited.

Is TDS applicable on purchase of e books?

By tax department’s interpretation payment for subscriptions/purchases/ licenses of e-Books/e-Journals by Libraries are treated as equivalent to software and hence come under TDS provision, which is 10% on local payment and 15-25% on payment to international publishers/vendors depending on the rate determined by the …

How can deposit TDS online?

Following is the procedure that a deductor needs to follow:

1. Login TIN NSDL Portal. To pay TDS online visit the website of income tax department.
2. Select the Relevant Challan.
3. Fill in the Challan Details.
4. Confirm Challan Details.
5. Make TDS Payment.
6. Online Verification.

How can I recover my TDS if deposited?

Procedure to file refund application in case of TDS:

1. Step 1: Login to TRACES website and Go to “Request for Refund” under “Statement Payment Tab“
2. Step 2: Go to Refund Checklist and click on “Proceed “
3. Step 3: Please select Section code:

How can I know my TDS amount?

Check TDS Online

1. Step 1: Go to
2. Step 2: Register and Login to the portal.
3. Step 3: Go to ‘My Account’ tab and click on view Form 26AS (Tax Credit)
4. Step 4: Select year and PDF format to download the file and proceed further.
5. Step 5: Open the downloaded file.

What is the TDS rate for professional fees?

10%
Note: Due to COVID-19 pandemic, the rate of TDS has been reduced from 2% to 1.50% and 10% to 7.5% for the period from 14.05. 2020 to 31.03. 2021. TDS u/s….Section 194J TDS on Professional or Technical Fees.

Can we deducted TDS on license fees?

Royalty includes payment received for transfer or granting of license for computer software. On purchase of software from a resident TDS shall be deducted @10% under section 194J.

Can TDS challan be carry forward?

In case tax has been deposited more than the required tax deducted at source for a particular Assessment Year, the excess amount of tax can be claimed in the following quarters of the relevant year. The balance amount if any, can be carried forward to the next year for claim in the TDS statement.

How can I check my employer TDS?

How to check if TDS deducted by your Employer is deposited against your PAN?

1. Kindly login to IT e-Filing portal with your credentials.
2. Click on ‘View Form 26AS (Tax Credit)’ link.
3. You will then be re-directed to TRACES website. (
4. Click on ‘View Tax Credit (Form 26AS)’ option.

What is the TDS rate for service charges?

Section 194J TDS on Professional or Technical Fees

Is TDS deducted every month?

Yes, TDS on salary is deducted every month. As per Section 192, the employer will deduct TDS on salary at the time of making the payment to the employee. Since the employee gets a salary every month, the employer will make a deduction for TDS on salary every month.

Can TDS challan rectify?

How can I change my TDS challan? The taxpayer needs to apply for correction to the bank within 7 days of the date of deposit of challan. In this case, the taxpayer can send a challan correction application form to their respective bank.

How can I download TDS paid challan?

How to Download TDS Challan?

1. 1) Visit TIN NSDL website.
2. 2) Go to ‘Services’ section and click on OTLAS.
3. 3) You will be redirected to OTLAS-Challan Status Inquiry Page. Click on download.
4. 4) You will be redirected to the ‘Challan’ page. From here, you can download your required copy of TDS Challan.

What is 194a TDS rate?

TDS is to be deducted at the rate of 10%. If the recipient of income doesn’t furnish his PAN to deductor then TDS is to be deducted @ 20%. No surcharge, education cess or SHEC shall be added to the basic rates.