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Direct Tax Compliance Calendar

Direct Tax Compliance Calendar

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Published by cajitendergupta

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Published by: cajitendergupta on Jul 17, 2008
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09/27/2012

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D
IRECT
T
AX
C
OMPLIANCE
C
ALENDAR 
Sl NoCompliance(s) requiredForm(if any)Due date (if any)RemarksA. INCOME-TAX ACT, 1961
On-going Compliances
Monthly Compliances-TDS
1.
Salaries
- Taxes to be withheld from salary payments made to employees at the applicablerates of tax NAAt the time of payment osalary2.
 Payment to contractors
- Taxes to be withheldon payments to a resident contractor/ subcontractor, if such payment exceedsINR 20,000 (per contract). However, taxesshall be withheld if the aggregate of such payments are likely to exceed INR 50,000 in afinancial year, even if individual contracts doesnot exceed Rs 20,000 NAAt the time of payment ocredit to the account of the payee, whichever isearlier 3.
 Rent 
- Taxes to be withheld on rental paymentsto a resident, if such payments exceedINR 120,000 in a financial year  NAAt the time of payment ocredit to the account of the payee, whichever isearlier 
14 April 2008
1
 
Sl NoCompliance(s) requiredForm(if any)Due date (if any)Remarks
4.
 Fees for professional or technical services ,royalty
– Taxes to be withheld on paymentsmade to a resident for professional/ technicalservices , on royalty payments, or fees referredin section 28(va) if such payments exceed INR 20,000 in a financial year  NAAt the time of payment ocredit to the account of the payee, whichever isearlier 5.
Commission or Brokerage – 
Taxes to bewithheld on payments made to a resident for commission or brokerage (not being insurancecommission), if such payments exceed INR 2,500 in a financial year  NAAt the time of payment ocredit to the account of the payee, whichever isearlier 6.
 Payments to Non-residents
- Tax to be withheldat the appropriate rate on any payments to anon-resident, provided such payments aretaxable in India NAAt the time of payment ocredit to the account of the payee, whichever isearlier 
In connection with the payments made to non-residents, information regarding tax withholdingto be furnished in electronic form as may be prescribed by the Board.
14 April 2008
2
 
Sl NoCompliance(s) requiredForm(if any)Due date (if any)Remarks
7.Taxes withheld from payments covered under  points 2 to 6 above, to be deposited intoGovernment treasuryITNS 281If the amount is creditedin the books of account ason March 31, within twomonths from March 31, ieMay 31In other cases, within oneweek from the last day of the month in which taxeswere withheld
14 April 2008
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