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RATES OF TDS FOR FINANCIAL YEAR 201617 (With effect from 01062016 onwards) Sr. No. 1 2 3 4 5 6 7 8 9 NATURE OF PAYMENT Interest *** Winnings from lottery, cross word puzzles card games, horse race,
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Nature of payment is needed by various entities or individuals, including:
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What is nature of payment?
Nature of payment refers to the type of payment being made, such as rental income, interest, dividends, etc.
Who is required to file nature of payment?
Any individual or entity who makes payments to another party is required to file nature of payment.
How to fill out nature of payment?
Nature of payment can be filled out by providing relevant information regarding the type of payment being made and the recipient of the payment.
What is the purpose of nature of payment?
The purpose of nature of payment is to accurately report the type of payment being made for tax and accounting purposes.
What information must be reported on nature of payment?
Information such as the amount of payment, recipient's name and address, and the type of payment must be reported on nature of payment.
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