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New Rules In Income Tax (TDS)

| Filed under Economy

CBDT brings in new changes in TDS rules

The Central Board of Direct Taxes (CBDT) has revised the Income Tax Rules, 1962 by bringing in new changes to the provisions regarding Tax Deduction at Source (TDS) that are filed on or after April 1, 2010.

Tax Deducted @ Source2 300x300 New Rules In Income Tax (TDS)

New rules for TDS deposits

Every month the employers deduct tax on the salaries and other payments distributed to the employees. According to the new rules, the employers should deposit the tax deduction for a month within 7 days from the end of that month. However, the tax deducted for the month of March, which is the end of the financial year, can be deposited on or before April 30 of the year.

For annual TDS certificate

The new CBDT rules also make it mandatory for the employers to issue the Form 16 or the annual TDS certificate to their salaried employees by May 31 soon after the end of the financial year. Previously the deadline was April 30.

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Taking a loan with your credit card

| Filed under Economy

Taking a loan on your credit card

Getting cash on your credit card is a very expensive affair. When you borrowing cash on your card; you may get an offer from the bank to opt for the EMI (Equated Monthly Installment) facility to make the payment. Loan from your credit card facility does not come cheap and the interest on the EMI is excessive. The interest rate may vary from 30-45% Better that you make the payment before the due date in one go and give the EMI facility a miss.

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