Jakson Group Department Manager Interview Questions and Answers

The rate of TDS in sec 194J is 10% for fees for professional or technical services.

• TDS stands for Tax Deducted at Source

• Section 194J of the Income Tax Act applies to fees for professional or technical services

• The rate of TDS in sec 194J is 10% for individuals and Hindu Undivided Families (HUFs)

• For other entities, the rate of TDS is 2% for fees for technical services and 10% for fees for professional services

• The TDS amo...read more

Recent amendments in TDS aim to simplify the tax deduction process and increase compliance.

• The threshold for TDS on interest income has been raised from Rs. 10,000 to Rs. 40,000.

• TDS on rent has been reduced from 10% to 5%.

• TDS on payments made to professionals and contractors has been increased from 10% to 20%.

• The due date for filing TDS returns has been extended to 31st July.

• The penalty for late filing of TDS returns h...read more

Recent amendments in GST aim to simplify compliance and increase revenue collection.

• The GST Council has introduced a new return filing system to reduce the compliance burden on taxpayers.

• The threshold for GST registration has been increased from Rs. 20 lakhs to Rs. 40 lakhs for small businesses.

• The GST rates on several goods and services have been revised, such as reducing the tax on electric vehicles from 12% to 5%.

• Th...read more