TDS Income Tax Question

by Dipen
(Delhi)

TDS Income Tax Question

TDS Income Tax Question

Please tell me sir

I am 62 yrs old and I don't have any source of income. My wife died this year and I have got Rs 24 lacs from her office (gratuity and CPF)

Can I invest all this amount in FDs and avoid paying any TDS if the rate of interest in FD is 10.05 % per year

Plz tell me this sir

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Tds On Remuneration

by MANOJ RATHOD
(MALKAPUR MAHARASHTRA)

Dear Sir,

I hope this message finds you well. We operate two proprietorship concerns, namely Dall Mill. We provide remuneration to one of our family members from both concerns. The remuneration is disbursed on 31st March for the entire year, and the total remuneration from both concerns amounts to 3 lakhs.

Our question is whether we should deduct TDS on remuneration from both concerns, and when is the appropriate time to deduct TDS. Currently, we deduct TDS in March. Could you kindly guide us on whether our approach is correct or not?

We appreciate your assistance and thank you for providing this platform to ask questions. It is highly valuable for everyone in this field.

Thanking you.

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Jan 20, 2024
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starstarstarstarstar 		DS Deduction for Remuneration
by: BB

In response to your query, when providing remuneration from multiple proprietorship concerns, TDS (Tax Deducted at Source) needs to be deducted. This holds true for each concern separately.

Regarding the timing of TDS deduction in March, it is appropriate, aligning with the disbursal of remuneration for the entire year. This ensures compliance with tax regulations.

If you have further questions or need additional guidance, feel free to ask.

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TDS Related

by dilip navale
(mumbai)

My co. deducted tds on hiring charges this transaction comes u/s194i but tds deducted u/s194c @ 2% and also return file thats ok of may I do revise tds return?

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