. Gross Salary: This includes all the income tax you receive from your employer, including:
DEDUCTION OF TAX FROM SALARIES [SEC.192]
Section 192 of the Income Tax Act deals with the deduction of tax at source
CONSEQUENCES OF DEFAULT
Financial: Penalties: The Income Tax Act imposes penalties for various defaults, including late filing of returns, underpayment of
WHEN RECIPIENT IS LOCATED IN A NOTIFIED JURISDICTIONAL AREA
Section 94A (5) of the Income Tax Act deals with additional information and documents required
WHEN RECEPIENT IS NON-FILER OF INCOME TAX RETURN [SEC.206AB]
Section 206AB of the Income Tax Act deals with the deduction of tax at source
WHEN RECIPIENT NOT FURNISH HIS /ITS PAN [SEC.206AA]
Section 206AA of the Income Tax Act deals with higher deduction of tax at source
TDS Rates for Financial Year 2023-24 (AY 2024-25)
The TDS (Tax Deducted at Source) rates for FY 2023-24 (AY 2024-25) vary depending on
TDS
DEDUCTION OR COLLECTION OF TAX AT SOURCE Scheme of Tax Deduction at Source (TDS) under