Taxmann TDS Ready Reckoner Edition April 2023

Taxmann TDS Ready Reckoner Edition April 2023

Taxmann TDS Ready Reckoner Edition April 2023

This book provides a ready referencer for all sections of tax deducted at source (TDS) and tax collected at source (TCS) of the Income-tax Act. All provisions of TDS and TCS are covered in independent chapters with prominent headings for pinpointed discussions on all aspects of the law and its compliance. The key highlights of this book are as follows:

• Alphabetical Reckoner of transactions for TDS/TCS/SFT
• TDS Charts

The Present Publication is the 29^th Edition and has been amended by the Finance Act 2023. This book is authored by Taxmann’s Editorial Board and divided into four divisions, namely:

• Introduction
• Tax Deduction at Source
• Tax Collection at Source
• Statement of Financial Transactions

The key features of the book are as follows:

• [Detailed Analysis] of TDS and TCS provisions, including the new section 194BA (providing TDS on winnings from online games introduced by the Finance Act 2023)
• [Tabular Format] to provide an overview of all provisions of TDS and TCS
• [Information on all Interconnected Provisions] are provided in a single place
• [Complete Analysis of the Rules] prescribed in respect of TDS and TCS
• [Illustrations] for easy understanding of various complex provisions
• [Guidance on the Controversial Issues] with supporting Case Laws
• [Circulars and Notifications] are linked with the relevant provisions
• [Forms] required for meeting compliance requirements

The detailed contents of the book are as follows:

Introduction

• Overview of TDS/TCS Provisions

Tax Deduction at Source

• TDS from Salaries
• Deduction of Tax at Source from Employees’ Provident Fund Scheme
• Deduction of Tax at Source from Interest on Securities
• Deduction of Tax at Source from Dividends
• Deduction of Tax at Source from Interest other than Interest on Securities
• Deduction of Tax at Source from Winnings from Lottery or Crossword Puzzles, etc.
• Tax on winning from Online Games
• Deduction of Tax at Source from Winnings from Horse Races
• Deduction of Tax at Source from Payments to Contractors/Sub-Contractors
• Deduction of Tax at Source from Insurance Commission
• Payment in respect of Life Insurance Policy
• Deduction of Tax at Source from Payments Qua Deposits under NSS
• Deduction of Tax at Source from Payments on Account of Repurchase of Units by Mutual Funds or Units by UTI
• Deduction of Tax at Source from Commission on Sale of Lottery Tickets
• Deduction of Tax at Source from Commission or Brokerage Payments
• Deduction of Tax at Source from Rent Payments
• Deduction of Tax at Source from Payment on Transfer of Certain Immovable Property
• Deduction of Tax at Source from Rent Payments in Certain Cases
• Deduction of Tax at Source from Joint Development Agreement
• Deduction of Tax at Source from Fees for Professional or Technical Services
• Deduction of Tax at Source from Income from Units
• Deduction of Tax at Source on Payment of Compensation on Acquisitions of Certain Immovable Property
• Income from Units of a Business Trust
• Income from Units of an Investment Fund
• Income from Investment in Securitisation Trust
• Deduction of Tax at Source from Payments by Individual/HUF
• Deduction of Tax at Source from certain Payments in Cash
• Deduction of Tax at Source from Payments by E-Commerce Operator to E-Commerce Participant
• Deduction of Tax at Source in case of Specified Senior Citizens
• Deduction of Tax at Source on Payment of Certain Sum for Purchase of Goods
• Deduction of Tax on the benefit of Perquisite in respect of Business or Profession
• Deduction of Tax on Payment on Transfer of Virtual Digital Assets
• Deduction of Tax at Source from Payments to Non-Residents
• Deduction of Tax at Source from Income in Respect of Units of Non-Residents
• Deduction of Tax at Source from Income from Units Payable to Off-Shore Funds
• Deduction of Tax at Source on Income from Foreign Currency Bonds or Global Depository Receipts of Indian Companies
• Deduction of Tax at Source from Income of Foreign Portfolio Investor from Securities
• General Exemptions from Deduction of TDS
• Certificate for Deduction of NIL/Lower TDS
• Non-Deduction of Tax based on Self Declaration of Deductee in Form 15G/Form 15H
• Credit for TDS [Section 199 Read with Rule 37BA]
• Deposit of TDS Deducted with Central Government (Section 200/Rule 30)
• Filing of TDS Returns (Section 200(3)/Rule 31A)
• TDS Certificates
• Requirement on Payee to Furnish PAN/Aadhar Number for TDS (Section 206AA/Rule 37BC)
• Special Provisions for Deduction of Tax at Source for Non-Filers of Income-Tax Return
• Quarterly Returns by Banks to Report Interest Payments (Section 206A)
• Consequences of Default in Obligations Relating to TDS

Tax Collection at Source

Statement on Financial Transactions