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The TDS rate for insurance commission, life insurance policy payments, rent payments, and commission or brokerage payments is proposed to be decreased from 5% to 2%. The TDS rate on payments made by e-commerce operators to e-commerce participants for the sale of goods or services is set to be reduced from 1% to 0.1%.
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India. The New Tax Regime is a scheme of Income tax in India first proposed in Union Budget 2020–21. [1]
Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3 , ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.
Form 3CA is a document used in the process of filing income tax returns in India. The document is Audit Report and is in accordance with the format specified by the Income Tax Department of India. The Income Tax Department of India has a list of forms that are to be used by assessees when filing income tax returns.
In India, a Tax Deduction and Collection Account Number (TAN) is a 10 digit alpha-numeric number issued by the Income Tax Department to the persons who are required to deduct or collect tax on payments made by them under the Indian Income Tax Act, 1961.
2024 Abujhmarh clash: More than 36 Maoists are killed in an operation carried out by District Reserve Guards and Special Task Force in the Abujhmarh forest area in Chhattisgarh. [167] 2024 Haryana Legislative Assembly election: The BJP retains control of the state Legislative Assembly for a record third term, winning 48 of 90 seats. [168] [169]
On November 10, the 2024 MTV Europe Music Awards were held. [95] Eminem won Best Hip-Hop. On November 16, the 2024 Korea Grand Music Awards were held. Lee Young-ji won Best Hip-Hop. [96] On November 19, Saafir died at the age of 54. [97] On November 20, the 2024 ARIA Music Awards were held. 3% won Best Hip Hop/Rap Release for Kill the Dead. [98]