How can I file TDS return from ClearTax?

STEP 1: Accessing the TDS Software.
STEP 2: Adding Deductors.
STEP 3: Starting Work on the Returns.
STEP 4: Verify the PAN of Deductees by using TRACES.
STEP 5: Challan Verification with OLTAS.
STEP 6: Validate the Return.
STEP 7: Generate FVU file and download to submit.

What is TDS in ClearTax?

TDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments. Usually, the person receiving income is liable to pay income tax.

What is TDS and how it is calculated?

The employer deducts TDS on salary at the employee's 'average rate' of income tax. It will be computed as follows: Average Income tax rate = Income tax payable (calculated through slab rates) divided by employee's estimated income for the financial year.

Is ClearTax free?

Well, fintech company ClearTax recently announced the launch of its new app — ClearTax E-Filing — to help taxpayers file income tax returns, free of cost.12-Aug-2019

How TDS return is filed?

Application for fresh allotment of PAN can be made through Internet. Requests for changes or correction in PAN data or request for reprint of PAN card (for an existing PAN) can also be made through Internet.

How can I save tax on 12 lakhs?

Tax Deductions under Section 80(C) Investments in PPF (Public Provident Fund) Investments in EPF (Employee Provident Fund) Investments in ELSS funds (Equity-Linked Savings Scheme) Investments in NSC (National Savings Certificates)09-Aug-2022

What is the limit for TDS?

In a scenario where, credit or payment to a contractor under TDS Section 194C is below TDS threshold limit of INR 1,00,000 in aggregate in a financial year and single transaction threshold limit INR 30,000, TDS will not be deducted.22-Jun-2022

Is it mandatory to file ITR if TDS deducted?

Mini. Income tax return (ITR) filing: Taxpayers now have only 5 days to file ITR for the financial year 2021-22 or assessment year 2022-23 without any penalty. Whether your employer has deducted tax at source (TDS) on your salary or you have paid tax on your own, you are still required to file income tax return (ITR).27-Jul-2022

How much TDS will be deducted?

TDS Rate Chart

Is TDS applicable on 30000 salary?

The threshold limit for the deduction of tax (TDS) continues to be the same at Rs 30,000. Hence, if the payments you make exceed Rs 30,000 in a financial year, you have to deduct tax. In a case your liability to TDS arises on or after 14 May 2020, TDS rate applicable is 7.5%.14-May-2020

What is the TDS for 50000 salary?

Slabs for Deduction from Employees-

Who needs to deduct 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.

Is ClearTax trustworthy?

With bank grade network security (128- bit SSL), security audits and industry- wide best practices in security, we keep your data safe. We take your privacy seriously, ClearTax does not use or share your data with anyone. All your data is private and belongs to you.

Is ClearTax good for ITR?

With ClearTax you can get an Expert to calculate your taxes and e-file your tax return. It is a totally safe and secured platform.

Can we file ITR without CA?

It is nowhere mandatory to get your returns assisted with some legal professional or institution. You can file all your tax returns by yourself if you have the knowledge of all basic rules and procedures.

What is TDS return due date?

The time limit for TDS deposition on the purchase of immovable property is the 30th day of the following month in which the property is purchased. For Example: If the property is purchased in the month of June than TDS can be deposited by 30th July.12-Jul-2022

What documents are required for TDS return?

Documents for TDS Return Filing – General

TDS Certificate.
Tax Payment Challans.
TAN Details.
PAN Card Details.
Notice Details from the Income Tax Department of India – Details of the Original Return you are responding.
All Bank Account Information.
Date of incorporation of the business.
No.

What is 26Q TDS return?

When a taxpayer pays taxes, the payee deducts TDS on certain occasions. Form 26Q is used to file TDS details on payments made other than salary. The form mentions the total amount that is paid during the quarter and the TDS amount that has been deducted.

What income is tax free?

If your income is below ₹2.5 lakh, you do not have to file Income Tax Returns (ITR).

How can I get zero tax on 15 lakhs?