TDS Section 194A
Definition
The provision for deducting tax at source on interest other than interest on securities — for example interest paid by banks on deposits or by businesses on loans — above a prescribed threshold.
Related Terms in India GST
TDS Section 195
The provision governing deduction of tax at source on payments to non-residents in India. Rates depend on the nature of income and any applicable Double Taxation Avoidance Agreement, and a reporting form is required for remittances abroad.
TCS Section 206C
The provision requiring sellers of specified goods — and, under 206C(1H), sellers above a turnover limit on large sales of goods — to collect tax at source from buyers. The collected tax is credited to the buyer against their tax liability.
Form 16
The TDS certificate an employer issues to an employee in India, summarising salary paid and tax deducted at source during the financial year. Part A shows the TDS deposited and Part B details the salary and deductions used to compute it.
Form 16A
The TDS certificate issued for tax deducted at source on income other than salary — such as interest, rent, commission or professional fees. It is generated from the deductor's TDS return and shows the tax credited against the recipient's PAN.
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