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What is TDS in Income Tax | Complete guide of TDS | Basics of TDS

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  • Опубліковано 18 сер 2024
  • 📍In this session we have discuss about the concept of TDS in India, what is TDS in income tax, complete guide of tds and basics of TDS. The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government. The deductee from whose income tax has been deducted at source would be entitled to get credit of the amount so deducted on the basis of Form 26AS or TDS certificate issued by the deductor.
    👨🏻‍🎓Enroll to our practical course in TDS, ITR & GST Filing
    👉Enrollment Link - bit.ly/3uENoRn
    👉Create your account
    👉Proceed for payment
    👉After payment you can access your complete course
    👉Get Certificate after course completion
    📍Payment of TDS
    Payment of TDS to be done monthly and due date is 7th of the following month (30th April for march month)
    📍Late payment of TDS
    This point cover two aspects
    1.If TDS not deducted - interest @1 % pm
    2.If TDS Deducted but not deposited - interest @1.5% pm
    📍Return of TDS
    Form 24Q Statement for tax deducted at source from salaries
    Form 26Q Statement for tax deducted at source on all payments other than salaries.
    Form 27Q Statement for tax deduction on income received from interest, dividends, or any other sum payable to non residents.
    Form 27EQ Statement of collection of tax at source.
    📍Late filing of TDS Return
    Penalty under section 234E & 271H are imposed on non filing of TDS Return within due date
    Sec 234E - The deductor will be liable to pay by way of fees Rs.200 per day till the failure to pay TDS continues. However, the penalty should not exceed the amount of TDS for which the statement was required to be filed.
    Sec 271H - The Assessing Officer may direct a person who fails to file the statement of TDS within the due date to pay a minimum penalty of Rs.10,000 which may be extended to Rs.1,00,000. The penalty under this section is in addition to the late filing fee u/s 234E. This section will also cover the cases of incorrect filing of TDS returns.
    🔗Download TDS Rate Chart - bit.ly/3hv6UwM
    🔗Download Class Notes - bit.ly/3oktqK1
    📍For tax consultancy please contact below
    📩 info@fintaxpro.in
    📞9718097735
    📍For Digital Content and collaboration
    📩 vivek@fintaxpro.in
    📞8368741773
    Regards,
    -Team Fintaxpro
    Disclaimer- Although all provisions, notifications, updates and live demo are analyzed in-depth by our team before presenting to public. We hereby provide our point of view only and tax matter are always subject to frequent changes hence advisory is only for the benefit of general public. Hence neither Fintaxpro Advisory LLP nor its designated partner are liable for any consequence arises on the basis of You Tube videos.
    #TDS #Tax #deducted #source
    ⏰Time Stamp
    0:00 Intro to TDS
    0:26 What is TDS?
    4:16 How to claim TDS refund/credit?
    5:45 What are the objectives of deducting tax at source?
    10:20 Rate of TDS?
    10:59 How to pay TDS?
    11:18 How to generate challan for TDS payment?
    22:18 What is TCS?
    26:26 Can we charge TDS on GST value?
    29:16 Accounting Entry of TDS
    38:07 Outro

КОМЕНТАРІ • 86

  • @EjazAhmed-xp3lp
    @EjazAhmed-xp3lp 2 роки тому +1

    SIR SAB SE ACHI BAT MUJHE YEH LAGI K AAP SIRF TOPIC BATEIN KARETIN HAIN, BAKI IDHAR UDHAR KI BAT NAHI KARTE, SAB SE ACHI CHIZ HAI.BAKI AAP PADHANE MEIN MASHALLAH BAHUT ACHE HAIN.

  • @kirangorad5154
    @kirangorad5154 3 роки тому +10

    So nice and detailed description... It was like, you are seating front of us and explaining the TDS. Really appreciate...

    • @FinTaxPro
      @FinTaxPro  3 роки тому

      Glad you like it

    • @hansrajkale7360
      @hansrajkale7360 Рік тому

      ​@@FinTaxProHello Sir .send me the pdf of all section thresholds limit under tds

    • @hansrajkale7360
      @hansrajkale7360 Рік тому

      ​@@FinTaxProOutstanding work sir some people required knowledge of pdf .

  • @shrutiverma5739
    @shrutiverma5739 3 роки тому +4

    Explained very nicely sir.
    Helped a lot.

  • @sareeb2230
    @sareeb2230 3 роки тому +1

    Amazon and Flipkart pe jo
    proprietor seller hai, usko TDS compliance kaise karna hai wo cover kijiye next vdo mein.
    Flipkart TDS report generate karta hai har month but Amazon pe aise koi report generate nahi hoti.

  • @mohamamdsaeedhussain6109
    @mohamamdsaeedhussain6109 3 роки тому +2

    Sir apka video shi lga

  • @vilasambhore4837
    @vilasambhore4837 2 роки тому +1

    Detailed description....very nice

  • @shalinisingh962
    @shalinisingh962 Рік тому

    Thanku so much sir for teaching nicely..

  • @tallygyan7583
    @tallygyan7583 3 роки тому +1

    THANK FOR THIS TOPIC AND I AM ALSO LOVE YOUR CHANNAL

  • @SCL-INFOent
    @SCL-INFOent 2 роки тому

    Best video for learn

  • @sardarpatel6007
    @sardarpatel6007 2 роки тому

    Best evar you tube video

  • @sandhisamir3299
    @sandhisamir3299 3 роки тому +1

    Informative viedeo Vivek sir 🙌

  • @EjazAhmed-xp3lp
    @EjazAhmed-xp3lp 2 роки тому +1

    OR MAINE AAP KA ITR, TDS AND GST COURSE PE ENROL KAR RAKHA HAI.

  • @surajkumar7995
    @surajkumar7995 3 роки тому

    Sir your way of explanation is good

  • @noname-hb2ed
    @noname-hb2ed Рік тому

    excellent sir thank you sir

  • @itsvinitsingh
    @itsvinitsingh Рік тому

    Thank you so much sir

  • @sushilsakpal8963
    @sushilsakpal8963 Рік тому +1

    DATE OF PAYMENT CONSIDER KARNE KE DATE OF BILL/INVOICE
    MEANS SUPPOSED BILL IS OF DEC 22 AND PAYMENT CHQ ISSUED IN JAN23 THEN TDS PAYMENT DUE DATE IS FEB 7 OR JAN 7 ? PLS CLEAR THIS CONFUSION

  • @user-eg8zg3dd7o
    @user-eg8zg3dd7o 5 місяців тому

    sir.is tds on labour charges applicable if there is no contract.company directly hired them .working under supervision of company who is paying them directly

  • @shaileshs5206
    @shaileshs5206 3 роки тому +1

    Sir make a video on PF and ESI

  • @bhavinnath3416
    @bhavinnath3416 Рік тому

    Superb details

  • @shrikantpise8436
    @shrikantpise8436 2 роки тому

    Thanks sir ji 🙏 🙌 👍 😊

  • @techking3907
    @techking3907 Рік тому

    Thanks brother

  • @Harrychinwan111
    @Harrychinwan111 2 роки тому

    29:16 accounting Entery mai journal Entry bhi mar skte hai 31 ko alag se Entery
    TDS receivable 100000
    To. Vivek 100000

  • @kansingh5968
    @kansingh5968 2 роки тому

    Nice video thanks sir.

  • @vijaykumar-nt3hd
    @vijaykumar-nt3hd 2 роки тому

    Thank you

  • @ashubandhari7642
    @ashubandhari7642 2 роки тому

    Very helpful video

  • @sharanudj4223
    @sharanudj4223 3 роки тому +1

    For e commerce TDS and filing ITR make a video

  • @AmitRaj-ks1gt
    @AmitRaj-ks1gt 2 роки тому

    What is HSN in GST in accounts only treatment in tally ERP 9 complete guide.

  • @sheetalborse
    @sheetalborse Рік тому

    Nice explain

  • @abuzararshad7771
    @abuzararshad7771 2 роки тому

    sir please Explain the all TDS rate in one video

  • @arunranga3646
    @arunranga3646 3 роки тому +1

    Sir tds and tcs what how payable , return , revise return, consume challan how and tds whole section return tcs return whole

    • @FinTaxPro
      @FinTaxPro  3 роки тому

      Course m sari cheze detail m discuss ki hui h

  • @sonitalwar1284
    @sonitalwar1284 2 роки тому

    Thank you sir for the details explain tds

  • @shilpivarma6355
    @shilpivarma6355 3 роки тому

    Nice explained

  • @shrikantpise8436
    @shrikantpise8436 2 роки тому

    Thanks sir 🙏

  • @vijaymandal5853
    @vijaymandal5853 2 роки тому

    Please explain Tds on salary

  • @sundarsikrwar5937
    @sundarsikrwar5937 3 роки тому

    Very nice

  • @AngryWorld.
    @AngryWorld. 2 роки тому

    Sir please bring a video on Indian Custom

  • @jaypanjwani4112
    @jaypanjwani4112 3 роки тому +1

    Sir what are the due date of filing TDS return Last quarter of F/Y 2020-21 June 30-June-2021

  • @accountsjob5448
    @accountsjob5448 3 роки тому

    Section wise threeshold limit bol dijiyega

  • @raviparmar1800
    @raviparmar1800 3 роки тому

    How to fill HSN summary in gstr 1 for e-commerce seller. Please sir iske per ek video banaiye.

  • @viveklambhate9752
    @viveklambhate9752 2 роки тому

    Plz video on TDS reconallication sir plz sir

  • @dragonballz3040
    @dragonballz3040 2 роки тому

    Bhai TCS ke uppar bhee laoo video

  • @AnupSingh-hf5ro
    @AnupSingh-hf5ro 2 роки тому

    good

  • @shivanivarma5528
    @shivanivarma5528 3 роки тому

    Nice work 👍

  • @harshmaheshwari3810
    @harshmaheshwari3810 3 роки тому +1

    Sir Tds return par bhi video bnaaoge??

  • @karanthaker1919
    @karanthaker1919 3 роки тому +1

    Is this video recorded from Web cam that you purchased on 16th Jan - 2021?

  • @abdulfareed3277
    @abdulfareed3277 3 роки тому +1

    Hello Sir How many days take tds claim Amount received

    • @FinTaxPro
      @FinTaxPro  3 роки тому

      There is no such limit

  • @afgankhankhan1357
    @afgankhankhan1357 3 роки тому +1

    Sir GST R1B GST R3B Mein Kiya Fark Hai Monthly Dono Fill Kare Ya Fir Ek
    Our Har Mahine Details please reply

    • @dheerajsinghla1029
      @dheerajsinghla1029 3 роки тому +3

      Gstr 1 is a sale return it is filed monthly or quarterly according to condition . but gstr 3b is a summary of purchase and sales and in this will pay tax to gov. , sett off liability from ITC. So it is also filed monthly or quarterly according to condition.

    • @FinTaxPro
      @FinTaxPro  3 роки тому

      @@dheerajsinghla1029 Right 👌

    • @dheerajsinghla1029
      @dheerajsinghla1029 3 роки тому

      @@FinTaxPro thanks sir

    • @afgankhankhan1357
      @afgankhankhan1357 3 роки тому

      Thanks sir

  • @himanshumalik5426
    @himanshumalik5426 3 роки тому

    Vivek sir, construction company me Kish Kish party kaa tds katna hota h kya aap muje explain kr skte h

    • @FinTaxPro
      @FinTaxPro  3 роки тому

      Basically need to deduct tds on work contract and services

  • @pramodbobee
    @pramodbobee Рік тому

    Please share TDS returns Video

  • @sumitprajapati5103
    @sumitprajapati5103 3 роки тому

    Amazing Sir🥳 How you also make video on tds return filing.

  • @abhishekvishwakarma500
    @abhishekvishwakarma500 Рік тому

    👌

  • @afgankhankhan1357
    @afgankhankhan1357 3 роки тому

    Sir Excel Sheet mein Errora Raha Hai
    Microsoft office Kon Sa Use Kare 2010 2016 2019

  • @hiteshthakkar1225
    @hiteshthakkar1225 2 роки тому

    can we get party wise ledger from tds return

  • @sanketgupta3020
    @sanketgupta3020 Рік тому

    i want to buy only tds full course please refer such course

  • @Sanju-ku4so
    @Sanju-ku4so 6 місяців тому

    TDS agr samne wala jma na kre toh kya kr skte hai sir

  • @sonubhardwaj5503
    @sonubhardwaj5503 2 роки тому

    Software purchase pr tds katega ya nahi

  • @ansh831
    @ansh831 3 роки тому

    Sir mene March 2021 ki return due date ke 15 days baad file ki thi...ab muje jo interest pay karna hoga wo muje April ki 3b ki return me jo liability hogi us amount par karna hai ya march ki jo liability thi us par.... please reply

  • @nitingoyal5952
    @nitingoyal5952 2 роки тому

    Sir
    In case , i received interest on loan
    how can i paid tds
    i can't have tan

  • @deepakgiri839
    @deepakgiri839 3 роки тому +1

    Sections wali video kab aaygi Sir???

    • @FinTaxPro
      @FinTaxPro  3 роки тому +1

      That is included in our course only :)

  • @nakultiwari8798
    @nakultiwari8798 3 роки тому

    👍

  • @riviteshjha530
    @riviteshjha530 Рік тому

    Sir are you a CA

  • @Sameer_K77777
    @Sameer_K77777 Рік тому

    Yaar khud confused hai kab aaye ga tds aur mujhe bhi kar raha hai interview hai mera job achhe se samjha thoda 😅

    • @FinTaxPro
      @FinTaxPro  Рік тому

      abe nikal pehli fursat m....

  • @riyatiwari9148
    @riyatiwari9148 3 роки тому

    👍

  • @priyatomar4035
    @priyatomar4035 3 роки тому

    👍