TDS (Tax Deducted At Source) Everything you need to know - CA Sriram Rao

[@dennykurian]

excellent....

[@NRIMoneyClinic]

Thank you very much . Please keep sharing the videos

[@RamInChennai]

To put it simple TDS and withholding tax are tax collected by the buyer of goods or service and deposited with the IT dept. TCS is similar to sales tax which is collected by the seller and deposited with the govt. Just like how sale tax.credits.can be obtained by the party , TCS can also be refunded after filing income tax.

[@meetan-]

TDS is a stupid concept making compliance complex and tedious both for the employer and employee. Whoever invented this product needs to be awarded Nobel prize for " unnecessary extreme complication "

[@anagharatheesh8122]

Such a good explanation. I am a CA student. Very much useful video. Thank you both of you

[@MJP0043]

Bhatt Saheb, Dhanyavad for TDS information.

[@j.r.6517]

Dr Bhatt excellent information. Yes it was little tedious. 😊

[@sreedharanmenokey3488]

Dear sir You are an excellent teacher in all respects My Salute

[@NRIMoneyClinic]

Thank you so much for your kind words

[@johnvk464]

For me bank deduct the TDS at the rate of 30% + 4% cess from my NRO savings account. Why bank deduct such a higher rate even from savings account??

[@surekhak2203]

Please make a video on investment of rental incomes generated in India...I searched all the playlists but didn’t find any video on this subject

[@stepwaytrainings]

kzbin.info/www/bejne/fXXZZJJ4Z5asrtU

[@sayedhanif9052]

TDS deduction should not be done by institutions. Let income earner file the return and pay the tax. It is been seen that claiming TDS back process also involve fees, charges and time; some time bribe too.

[@kunuseri]

That is why it is not worth investing in India for NRI's; what you earn gets taken away by the CA's!

[@lavank18]

Thank you for such informative content.

[@Rampracaash]

I wonder why this video got only 580 likes.. it should be having atleast 50k..

[@sajuchirayath371]

Because #1 most of Utube watchers are looking for some other topics like SEX,CRIME,POLITICS, FOOLISH FUNNY IDEAS etc. # 2 Most of the watchers are POOR, JOBLESS, YOUNG, with NO FARWIEW and FINANCIAL GOALS.

[@chandramouliramachandran4217]

What about capital gain? If I have only capital gain and if my income for a particular year is below limit inclusive of capital gain, should I pay either capital gain tax or income tax?

[@sriramrao2514]

Capital Gain tax is a part of Income tax itself... If you are an NRI, as you do not get any basic exemption limit on capital gain, you would end up paying tax on the CG.

[@chandramouliramachandran4217]

@@sriramrao2514 Thanks sir. For indian citizens, exemption limit can be taken into account, if I have only capital gain in a year. Is that right sir?

[@believerone2001]

tax identity number for NRI is a new demand? for RBI files from last week.

[@AkhilEapen]

Very much useful information

[@kaushikpandya7746]

So TDS means subject to other income and Short term and/ or long term capital gains tax after legitimate deductions from income and assessed by I.T. Officers to their satisfaction by documentary evidences..

[@parthabhattacharya6837]

If a NRI sells a property in India, the resident buyer will deduct 29.6% of the property sale value as TDS. Is it obligatory for the NRI seller to deduct 1% TCS and deposit to ITAX

[@sriramrao2514]

When TDS is applied on a transaction, there cannot be any TCS application on the same transaction…. There cannot be any cross application of both TDS & TCS on same transaction

[@ronniecherian1]

Fantastic presentation :)

[@theresamathai7410]

Y is a senior citizen who has worked hard in a foreign country n saved their savings in an Indian Bank n live on the interest n yet pay TDS.

[@kunuseri]

It is called confiscation!

[@harsanau7547]

Crystal clear view on this video. Thanks.. After hallmark became mandatory, what is the effect on TDS and TCS pertaining to Jewellery business? Kindly clarify sir?

[@stepwaytrainings]

kzbin.info/www/bejne/fXXZZJJ4Z5asrtU

[@sandeepshanbhogue7690]

since the topic is 'tedious' as correctly said and rate for nris are high what about GST if CA does not mind to answer in this forum?

[@sriramrao2514]

GST is a different taxation law and it has got nothing to do with Income Tax, the rules and regulations for GST is totally different, it can co-exist with Income Tax in certain transactions depending on facts and circumstances

[@donnap9263]

Hello sir,Good evening Is there is Indian government and RBI website where all these rules we can read?

[@sriramrao2514]

There are bear acts available on income tax India official website… chapter XVII therein has rules in respect of TDS

[@varunkumarskvaru1132]

Thank you sir

[@thirumookkiah5924]

If TDS is income tax, why should I pay it if I am already paying income tax for my salary?

[@SatishKumar-kl9db]

Money has time value. Differentiating NRI and Resident in the form of different time for same IT is not correct and value different to different persons whereas it could have been the same.

[@lovelife_always74]

Could you please advise does a nri have to pay tax on the money they get from a sale of a agricultural land? If yes how much % is it?

[@sriramrao2514]

It depends on facts and circumstances... one need to know more information to answer this question.

[@jigarshukla]

Can the capital gains tax incurred as part of mutual fund sell off be claimed back if the total is not more than 5 lakh per year?

[@sriramrao2514]

For NRI's there is no basic exemption limit applicable in capital gains. Hence, any TDS deducted on CG, may go for taxes and may not be refunded...

[@chinnujacob5968]

To call " TDS " a preventive tax appears to be a misnomer. Does the income tax act use the word " " preventive " anywhere in the sections ? TDS is only an advance tax which the government has devised so that it gets money as the year progresses., To wait till the residents finalize their returns and pay the taxes due will be too burdensome for the government. This is only a layman's view on the subject. Please correct if I am wrong or illogical.

[@sriramrao2514]

TDS is primarily a tax collection mechanism as per chapter XVII of The Income Tax Act. However, it also works as a preventive taxation when we look from the point of view of tax evaders or those people who are either not bothered about payment of taxes, knowingly or unknowingly. As rightly pointed out by you, as per law, TDS is a tax collection mechanism.

[@Nukie9]

Tell us about tds for NRI's STCG TDS rates

[@sriramrao2514]

It depends on nature of asset... normally it will be 30% plus surcharge plus cess as applicable, it can be less also depending on nature of asset...

[@vishnusoniajmer5953]

Dear Sir 194 C (6) Non Deduction Of Tds Kya Hota Hai ???

[@sriramrao2514]

It is a specific provision, which allows a payer to pay full amount without deduction of TDS under certain facts and circumstances

[@vishnusoniajmer5953]

@@sriramrao2514 Thanks

[@leonorafinnerty7095]

Sir I had asked you a question about 3 days ago regarding opening a fix deposit where as if it's Wright to open it as normal account or should have been as an NRI account. What's the difference. Would be grateful if you could advise

[@NRIMoneyClinic]

If you are a NRI , you should only open NRI accpunt , not resident account

[@sreedharanmenokey3488]

there are 3types of NR account. 1.NRO -where receipts from India like rent maturity proceeds of Indian Rupee investments can be credited. You have no right to repatriate these funds to a foreign nation 2.NRE account-in this account remittance from abroad converted to INR can only be credited. The funds held in this account can be easily repatriated. Both accounts are maintained in INR.and can be opened as Current or SB and as FD 3.FCNR- this account can be opened and maitained only in designated Foreign Currency by way remittance from abroad .No CA/SB only F D is permissible. can be repatriated easily without any exchange loss

[@revathyshanmugaraj2761]

I have a question if I'm selling goods and charging 18 % gst after that do I need to include tds percent ?

[@sriramrao2514]

TDS should be deducted exclusive of GST if GST is mentioned separately in invoice

[@abhisheksarkar3540]

Sir if any employer deducts TDS but in Form 26AS its not reflected then while filling return what an employee should do?

[@sriramrao2514]

Write to employer and ask him for Form 16 as downloaded from Traces portal…

[@mathewv27]

Hi sir, I have booked profit in my equity share and made short term capital gain more than 2.5 lakhs . The broker already taken TDS and it is icicidirect. If I file income Tax, whether I can claim some amount.

[@bisp4145]

Thank you!

[@krisv2684]

What are the taxable income brackets for NRI’s If i just make around 3 lakh in interest income in india, should i file taxes in india?

[@sriramrao2514]

Yes

[@ronniecherian1]

What happens if my tax threshold is low so how do I get back what was taken as TDS?

[@sriramrao2514]

You have to file Income Tax returns in India so as to claim refund of excess TDS deducted...

[@rajagopalanjayakumaran7110]

Is it not cruel for a regular tax-filing NRI to undergo the process of TCS by the buyer at the time of selling, on behalf of NRI selling an immovable property in India, at the inevitable capital loss deal?

[@stepwaytrainings]

kzbin.info/www/bejne/fXXZZJJ4Z5asrtU

[@rohansivon]

How much does it cost to file Income Tax so as I can get back all my TDS Deductions.

[@NRIMoneyClinic]

You need to check it with your chartered accountant. Please subscribe and keep sharing the videos

[@rohansivon]

@@NRIMoneyClinicThank you. I'm a subscribed member Sir.

[@donnap9263]

What is the TDS rate is for NRI?

[@sriramrao2514]

One need to check Part II of First Schedule to Finance Act as well as certain other sections under income tax act

[@mathewv27]

Excellent

[@avneeshsingh6863]

What is the time limit to claim tds refund

[@sriramrao2514]

within time limit to file return of income every year.

[@ratnajibhamidipati4809]

Govt.penalising NRIs...

[@sriramrao2514]

In my view, it is wrong way of looking at regulations, government is just making sure to collect their du taxes well within time.

[@kunuseri]

There is no reason to repeat everything that the CA is saying; it is quite simple and please avoid it.

[@NRIMoneyClinic]

Feedback noted . Thank ypu

[@sathishspeaks]

Please repeat sir that is helping finance novice like us , this channel is for every one not only for experts who get bored in hearing what they already know

[@csstardew]

What an idiotic concept.

[@johnwardell9530]

PLEASE STOP REPRODUCING