Recommendations of the 42nd GST Council Meeting

The 42nd GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Finance Ministers of States & UTs and senior officers of the Ministry of Finance& States/ UTs

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TDS Rate Chart for F.Y. 2020-21 (A.Y: 2021-22)

Tax Deducted at Source (TDS) is a mechanism that has been introduced by the Income Tax Department. Under this, the responsible person is supposed to deduct a certain percentage of income as tax before making the payment to the receiver. The payment includes salary, commission, professional fees, interest, rent, etc.

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Relaxation in income-tax compliances amid covid-19 outbreak

1. Payment of tax deducted at source (TDS) for the month of March 2020 into the Govt. treasury: · No change in time for payment which is 30 April 2020 · However, reduced interest rate @ 0.75% per month or part thereof would be applicable for delay in payment of tax (instead of 1.5% per month or part thereof) for deposit of taxes between 1 May to 30 June 2020

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