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Taxes & Returns

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    @TradeWise
    To manage the 1% TDS, first calculate it when you make a payment. Subtract this TDS from the total amount to follow tax rules. After deducting it, deposit the TDS with the government, either online or at an authorized bank, and get a challan receipt as proof. To keep things clear and avoid any problems, send this receipt along with Form 16B to the seller to show that the TDS has been deducted.

  • 3 Topics
    7 Posts
    S

    For any online business, a GST number is mandatory regardless of your turnover. If you have a GST number, then you can easily trade across states, enhance business credibility and compliance, and claim input tax credit on purchases.