TDS will not be deducted on income up to 10 thousand

Till now, it was mandatory for companies to deduct TDS at the rate of 10% on dividends above Rs 5,000. But under the new provision, there will be no TDS on dividends up to Rs 10,000. If the investor has provided PAN, then 10% TDS will be deducted on dividends above the new limit, but if PAN is not provided, TDS will be deducted at a higher rate of 20%. The government believes that this decision will directly benefit small investors and mutual fund unit holders. Apart from this, the process of tax payment will also be simplified.

Changes in TDS and TCS rates bring relief to taxpayers

In the budget presented for the financial year 2025-26, not only dividend income but many other rules related to TDS and TCS have also been changed and made easier.

• In fact, under section 194A, the limit of TDS on interest received on bank deposits of senior citizens has been increased from Rs 50,000 to Rs 1 lakh.
• At the same time, the limit of TDS on rent under section 194I has been increased from Rs 2.40 lakh per annum to Rs 6 lakh without any condition.
• The TCS limit on sending money abroad under the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India has been increased from Rs 7 lakh to Rs 10 lakh.
• If money is sent abroad by taking a loan from the bank for studies, then TCS will not be levied on it.

Government will present new income tax bill next week

The government says that these changes in the rules of TDS and TCS have been made to simplify the tax system and help small investors. This will give investors tax relief on dividend, rent and interest, which will reduce their tax liability and increase investment. It is worth noting that after the budget, everyone’s eyes will now be on the new Income Tax Bill, which the government is going to present in the Parliament next week.

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The post TDS limit is double on these earnings including dividend, know full details first appeared on Rightsofemployees.com.

The company’s consolidated profit on a quarter-on-quarter basis has been lower than the December 2022 quarter. The company’s consolidated net profit in the December 2022 quarter was Rs 6586 crore.

The income of the country’s second largest IT company has also increased. It has increased by 16 percent to Rs 37,441 crore in the March quarter, from Rs 32,276 crore in the same quarter a year ago. The company’s revenue in the December quarter was Rs 38,318 crore.

Decline in operating profit margin

The company’s operating profit margin registered a decline of 0.5 per cent on quarterly and annual basis and stood at 21 per cent. The company’s revenue at constant currency grew by 8.8 per cent year-on-year in the December quarter and 15.4 per cent in the entire financial year.

With several deals in the pipeline, the company’s Chief Executive Officer and Managing Director Salil Parekh said, “We are seeing a strong trend from our clients towards efficiency and cost improvements and integration. So many deals are in the pipeline.

Gadgad has made the investors proud.

Along with earning profits, the company has also given good news to the investors. The company’s board announced a final dividend of Rs 17.50 per share for FY2023. The record date of dividend has been fixed on June 2, 2023 and by July 3, 2023, the amount of dividend will be transferred to the account of eligible shareholders.

The post Infosys Q4 Results: Profit up 8%, announces dividend of Rs 17.50, know full details first appeared on Rightsofemployees.com.