Often times, it is difficult to know the TDS ('Tax Deducted @ Source') rate for a type of payment and the threshold from which the TDS to be deducted and payed to the IT Department.
EZTax TDS rate calculator makes it easier for a tax payer or a tax consultant to know the rates and information around suing a simple filter.
TDS means Tax deducted at Source. Tax is required to be deducted at source. The TDS is applicable on various payments like Salaries, Rent, Interest, Dividend, freelancing payments etc
Yes, the Income Tax Department has prescribed the thresholds for different types of payments. Refer @ Latest TDS Rates by Section | Simplified Version for thresholds
If the Payer does not deduct TDS on the prescribed payments, then the payer is required to pay interest on the TDS required to be deducted.
Yes, The TDS rates differ based on the type of deductees. If the deductee (payee) is Non Resident, TDS rates are covered under section 195.