TDS:
Due Date for monthly TDS rETURN : 7TH of everymonth
TDS on Salaries-192B
TDS on Contractors-194C
TDS ON Rent- 194I
TDS on Professional Fees- 194 J
TDS Querterly Returns:
1st Q-Apr to June- Due date-15th of July
2nd Q- July to Sept- Due Date- 15 Th of Oct
3rd Q- Oct to Dec- Due Date- 15th of Jan
4th Q- Jan to Mar- Due Date 15 Th June
Quartly Returns:
24Q for salaries
27Q for other than salaries
Tds on Salaries: 192B
if u wanna reduse u r tax burden thn u can minimize ur tax amt max up to 20,000 INR by showing ur investments like insurance etc...
New Income Tax Slabs for FY 11-12 Others & Men (FY 2011-12)
1. Up to Rs 1,80,000/No tax / exempt
2. 1,80,001 to 5,00,000-10%
3. 5,00,001 to 8,00,000-20%
4. Above 8,00,000-30%
Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2011-12)
1. Up to Rs 1,90,000-No tax / exempt
2. 1,90,001 to 5,00,000-10%
3. 5,00,001 to 8,00,00-20%
4. Above 8,00,000-30%
New Income Tax Slabs for FY 11-12 for Resident Senior Citizens (FY 2011-12)
1. Up to Rs 2,40,000--No tax / exempt
2. 2,40,001 to 5,00,000--10%
3. 5,00,001 to 8,00,000--20%
4. Above 8,00,000--30%
New Income Tax Slabs for FY 11-12 Very Senior Citizen (FY 2011-12)
1. Up to Rs 5,00,000--No tax / exempt
2. 5,00,001 to 8,00,000--20%
3. Above 8,00,000--30%
U can show ur ur investments by deducting u r income unser sce 80C
Contracts (including work land labour contract) - 194 c The tax has to be deducted @ 2% on contract payments and 1% for subcontract and advertisement contract payments. The tax is required to be deducted if a single payment exceeds Rs. 20000/- or if the aggregate payments exceed Rs. 50000/- per annum.
Rent- 194 i Any amount paid as rent above Rs. 120000/- per year will attract TDS provisions @ 10% for Individual & HUF and 20% for others.
Fees for professional or technical services/royalty/Income on units of mutual funds: 194 j
The tax has to be deducted @10% with some basic exemption limits.
Interest on securities/Dividends/Interest/Insurance commission-:193, 194, 194A& 194D The tax has to be deducted @ 20% for domestic companies and 10% for others with some basic exemption limits, in the case of interest if the amount of interest is up to Rs. 5000/- during a financial year. however, in the case of interest paid by a banking company, Co-operative society engaged in the business of banking and a public company engaged in the financing or construction of residential houses in India, this limit is Rs. 10000/-.
Insurance commission-: Any person responsible for paying to a resident any remuneration or reward whether by way of commission or otherwise, for procuring insurance business is required to deduct tax @ 20% for companies and 10% for other person if the amount credited or paid is more than Rs. 5000/- in a financial year.
Due Date for monthly TDS rETURN : 7TH of everymonth
TDS on Salaries-192B
TDS on Contractors-194C
TDS ON Rent- 194I
TDS on Professional Fees- 194 J
TDS Querterly Returns:
1st Q-Apr to June- Due date-15th of July
2nd Q- July to Sept- Due Date- 15 Th of Oct
3rd Q- Oct to Dec- Due Date- 15th of Jan
4th Q- Jan to Mar- Due Date 15 Th June
Quartly Returns:
24Q for salaries
27Q for other than salaries
Tds on Salaries: 192B
if u wanna reduse u r tax burden thn u can minimize ur tax amt max up to 20,000 INR by showing ur investments like insurance etc...
New Income Tax Slabs for FY 11-12 Others & Men (FY 2011-12)
1. Up to Rs 1,80,000/No tax / exempt
2. 1,80,001 to 5,00,000-10%
3. 5,00,001 to 8,00,000-20%
4. Above 8,00,000-30%
Income Tax Slabs for ay 11-12 for Resident Women (below 65 years) (FY 2011-12)
1. Up to Rs 1,90,000-No tax / exempt
2. 1,90,001 to 5,00,000-10%
3. 5,00,001 to 8,00,00-20%
4. Above 8,00,000-30%
New Income Tax Slabs for FY 11-12 for Resident Senior Citizens (FY 2011-12)
1. Up to Rs 2,40,000--No tax / exempt
2. 2,40,001 to 5,00,000--10%
3. 5,00,001 to 8,00,000--20%
4. Above 8,00,000--30%
New Income Tax Slabs for FY 11-12 Very Senior Citizen (FY 2011-12)
1. Up to Rs 5,00,000--No tax / exempt
2. 5,00,001 to 8,00,000--20%
3. Above 8,00,000--30%
U can show ur ur investments by deducting u r income unser sce 80C
Contracts (including work land labour contract) - 194 c The tax has to be deducted @ 2% on contract payments and 1% for subcontract and advertisement contract payments. The tax is required to be deducted if a single payment exceeds Rs. 20000/- or if the aggregate payments exceed Rs. 50000/- per annum.
Rent- 194 i Any amount paid as rent above Rs. 120000/- per year will attract TDS provisions @ 10% for Individual & HUF and 20% for others.
Fees for professional or technical services/royalty/Income on units of mutual funds: 194 j
The tax has to be deducted @10% with some basic exemption limits.
Interest on securities/Dividends/Interest/Insurance commission-:193, 194, 194A& 194D The tax has to be deducted @ 20% for domestic companies and 10% for others with some basic exemption limits, in the case of interest if the amount of interest is up to Rs. 5000/- during a financial year. however, in the case of interest paid by a banking company, Co-operative society engaged in the business of banking and a public company engaged in the financing or construction of residential houses in India, this limit is Rs. 10000/-.
Insurance commission-: Any person responsible for paying to a resident any remuneration or reward whether by way of commission or otherwise, for procuring insurance business is required to deduct tax @ 20% for companies and 10% for other person if the amount credited or paid is more than Rs. 5000/- in a financial year.
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