Course Module: TDS and TCS FY: 2024-2025
TDS & TCS are super crucial! This course goes deep into these tools—trust me; they’re gold if you’re looking into consultancy. Expect clarity on sections, applying for TAN, filing returns through NSDL, correcting or revising returns…the whole package really is covered!
Income Tax Course: Income Tax and ITR Filing: Ultimate Course Content 2024-2025
1. TDS Conceptual Clarity
- Definition and Purpose: Gain a clear understanding of Tax Deducted at Source, its purpose, and its role in ensuring tax compliance.
- Applicability: Explore who is required to deduct Tax Deducted at Source and under which conditions.
2. How to Apply for TAN
- Definition and Importance: Learn about the Tax Deduction and Collection Account Number (TAN) and why it’s essential for TDS/TCS compliance.
- Application Process: Step-by-step guide on applying for TAN through various methods.
3. New TAN Registration Process on Income Tax Portal
- Online Registration: Detailed instructions for registering for TAN on the Income Tax Department’s e-filing portal.
4. How to Register and Activate TAN on TRACES
- TRACES Overview: Introduction to the TRACES portal and its importance.
- Registration and Activation: Detailed steps to register and activate TAN on TRACES.
5. Know PAN for Tax Deducted at Source
- Role of PAN: Understanding the significance of Permanent Account Number (PAN) in TDS.
- PAN Verification: Methods for verifying PAN details to ensure correct TDS deductions.
6. Sec 192 TDS on Salary
- Overview: How TDS is deducted from salaries according to Section 192.
- Calculation: Procedure for calculating Tax Deducted at Source on salary payments.
You Can Also Read this Blog: Big Update: New TDS Changes on Salary in Budget 2024
7. Changes in TDS on Salary FY 2024-25
- Updates: Review recent changes and updates to Tax Deducted at Source rules for salaries for the financial year 2024-25.
8. Sec 192A Premature Withdrawal of Provident Fund
- Overview: TDS implications on premature Provident Fund withdrawals under Section 192A.
- Changes from April 2023: New rules and updates impacting TDS on PF withdrawals.
9. Form 24Q Filing
- Purpose and Requirements: Learn about Form 24Q, used for Tax Deducted at Source on salaries.
- Filing Procedure: How to correctly file Form 24Q.
10. New Changes in Form 24Q and PAN Verification Process
- Updates: Recent changes in Form 24Q and the PAN verification process.
11. Sec 194C Tax Deducted at Source on Contractor
- Contractor Payments: TDS requirements for payments made to contractors as per Section 194C.
12. Sec 194D, 194H & 194G TDS on Commission
- Commission Payments: TDS implications for payments of commission and brokerage under Sections 194D, 194H, and 194G.
13. Sec 193 Interest on Securities
- Interest TDS: Understanding TDS on interest earned from securities as specified in Section 193.
- Changes from April 2023: Latest updates affecting this section.
14. Sec 194A Tax Deducted at Source on Interest Other Than Securities
- Interest TDS: Detailed explanation of TDS on interest income not related to securities under Section 194A.
15. Sec 194 Tax Deducted at Source on Dividend
- Dividend Payments: How TDS is applied to dividend payments as per Section 194.
16. Sec 194B & BB TDS on Winnings
- Winnings TDS: TDS requirements for winnings from lotteries and other sources under Sections 194B and 194BB.
17. Detailed Discussion of New Section 194BA TDS on Online Gaming
- New Section 194BA: Insights into the new provisions for TDS on online gaming.
18. Section 194B & BB and New Section 194BA Changes from April 2023
- Updates: Recent amendments to Sections 194B, 194BB, and the introduction of Section 194BA.
19. Sec 194DA Payment of Maturity Amount of Life Insurance Premium
- Maturity Payments TDS: TDS implications for maturity proceeds of life insurance policies under Section 194DA.
20. Sec 194E Payment to Non-Resident Sportsmen or Sports Associations or Entertainers
- Non-Resident Payments: TDS on payments to non-resident sportsmen, sports associations, or entertainers under Section 194E.
21. Sec 194EE National Saving Scheme
- NSC TDS: TDS implications for National Saving Certificate payments as per Section 194EE.
22. Sec 194F Payment on Repurchase of Units by Mutual Funds/UTI
- Mutual Funds TDS: Understanding TDS on the repurchase of units by Mutual Funds/UTI under Section 194F.
23. Sec 194I Tax Deducted at Source on Rent
- Rent Payments: TDS requirements for rental payments under Section 194I.
24. Sec 194IB TDS on Rent by Certain Individuals with Filing of 26QC
- Specific Rent TDS: TDS on rent paid by specific individuals and the process for filing Form 26QC under Section 194IB.
25. Sec 194IC Payment Under Joint Development Agreement
- Joint Development Agreement: TDS requirements under Section 194IC for payments related to joint development agreements.
26. Section 194IC Change from April 2023
- Updates: Recent changes to Section 194IC effective from April 2023.
27. Sec 194J Tax Deducted at Source on Professional Services
- Professional Services TDS: TDS on payments for professional services under Section 194J.
28. Sec 194LA Compensation on Compulsory Acquisition of Immovable Property
- Compensation TDS: TDS on compensation for compulsory acquisition of immovable property under Section 194LA.
29. Sec 194K Tax Deducted at Source on Contract, Commission or Brokerage or Fee for Professional Service
- Comprehensive TDS: TDS requirements under Section 194K for contracts, commissions, brokerage, and professional fees.
30. Sec 194M Tax Deducted at Source on Certain Payments
- Certain Payments: TDS implications on specified payments under Section 194M.
31. Sec 194N Tax Deducted at Source on Cash Withdrawal
- Cash Withdrawal TDS: TDS requirements for large cash withdrawals under Section 194N.
- Changes from April 2023: Updates affecting Section 194N.
32. Sec 194O Tax Deducted at Source on E-Commerce
- E-Commerce TDS: TDS requirements for e-commerce transactions under Section 194O.
33. New Way to Pay TDS and TCS w.e.f. 1st April 2023
- Payment Methods: Introduction of new procedures for paying TDS and TCS from April 2023.
34. New TDS Rules from January 2024 for Section 194O and 194H
- Upcoming Changes: New TDS rules for Sections 194O and 194H effective from January 2024.
35. Sec 194P Pension (Along with Interest on Bank Account)
- Pension TDS: TDS on pension and interest on bank accounts under Section 194P.
36. Sec 194Q Tax Deducted at Source on Purchase of Goods
- Goods Purchase TDS: TDS implications for the purchase of goods under Section 194Q.
37. Sec 194R Tax Deducted at Source on Perquisites
- Perquisites TDS: Understanding TDS on perquisites under Section 194R.
38. Sec 194S TDS on Virtual Digital Assets
- Digital Assets TDS: TDS requirements for virtual digital assets (cryptocurrencies) under Section 194S.
- Challan 26QE: Procedures related to Challan 26QE for digital assets.
39. TCS All Sections (Complete Concept Clarity)
- TCS Overview: Detailed discussion of all TCS provisions, including TCS on certain goods, sales of goods, motor vehicles, leases, toll plazas, and foreign remittances.
- TCS Rate Chart: Current TCS rates and applicable transactions.
40. TCS Changes from April 2023
- Updates: Recent changes in TCS regulations from April 2023.
41. TCS Changes from October 2023
- Updates: Additional changes in TCS regulations effective from October 2023.
42. Form 26Q Filing
- Purpose and Procedure: How to file Form 26Q for TDS on payments other than salaries.
43. Form 27EQ Filing
- Purpose and Procedure: Filing Form 27EQ for TCS returns.
44. Correction of TDS Returns
- Correction Procedures: Steps to correct errors in TDS returns.
45. Form 16, 16A Download
- Forms Overview: How to download Form 16 and Form 16A, crucial for TDS compliance.
46. Section 195 Tax Deducted at Source on Non-Resident Payments
- Non-Resident TDS: TDS obligations on payments to non-residents under Section 195.
47. TDS & TCS Return Filing Due Dates, Late Filing, Late Deduction, Late Payment
- Deadlines: Understanding due dates for TDS and TCS return filing, and the consequences of late filing, deduction, or payment.
48. Form 27Q Filing
- Purpose and Procedure: How to file Form 27Q for TDS on payments to non-residents.
49. How to Pay TDS and TCS Online
- Online Payment: Procedures for online payment of TDS and TCS.
50. How to Download CSI File
- CSI File: Instructions for downloading the Computation of Source Information (CSI) file.
51. How to Download TDS RPU Free Utility
- RPU Utility: Steps to download and use the TDS Return Preparation Utility (RPU).
52. How to Upload TDS and TCS Return Online
- Online Upload: Process for uploading TDS and TCS returns online.
53. How to Do OLTAS Challan Correction
- Challan Correction: How to correct errors in OLTAS challans.
54. How to Register DSC on TRACES
- DSC Registration: Steps for registering a Digital Signature Certificate (DSC) on the TRACES portal.
55. How to Download Justification Report
- Justification Report: Process for downloading justification reports for TDS and TCS.
56. How to Do Offline Correction in TDS and TCS Return
- Offline Corrections: Methods for making offline corrections to TDS and TCS returns.
57. New Way to Pay TDS/TCS and Download CSI File
- Updated Procedures: New methods for paying TDS/TCS and downloading the CSI file.
58. TDS on Purchase of Goods (Section 194Q)
- Purchase of Goods TDS: Detailed explanation of TDS on goods purchases under Section 194Q.
59. TCS on Sales of Goods
- Sales of Goods TCS: Understanding TCS on sales of goods, including rate charts and applicable provisions.
60. Section 194IA Tax Deducted at Source on Sale of Property
- Property Sale TDS: Detailed discussion on TDS for property sales under Section 194IA.
- Live Filing of 26QB: Practical guidance on filing Form 26QB.
- TRACES Website: Register and login procedures through PAN.
- Correction in Form 26QB: Methods to correct Form 26QB errors, both via TRACES and Internet Banking.
- Download Form 16B: How to obtain Form 16B.
- NRI Property Sale: TDS implications for non-resident sellers and how to apply for a lower deduction certificate using Form 13.
- New Way to Pay TDS on Property 26QB: Updates to the payment process for TDS on property sales effective from April 2023.
This course module provides a comprehensive overview of the latest updates and procedures related to TDS and TCS for the financial year 2024-2025. Each section is designed to give you clear insights into the specific requirements, updates, and processes involved in tax compliance.