TDS on Cash Withdraw Understand TDS on Cash Withdrawals with insights on applicability, rates, and exemptions. Section 194N mandates a 2% TDS on cash withdrawals exceeding ₹1 crore. Learn about the time and conditions for deduction, plus scenarios exempt from TDS. Author CA. Atif provides a detailed example for clarity.
Learn about the tax implications of premature withdrawal from the Employees’ Provident Fund (EPF) under Section 192A. Understand the applicable rate of TDS, thresholds, and the consequences of not furnishing PAN.
Explore the provisions of updated return under Section 139(8A) of the Income Tax Act, including eligibility, conditions, and scenarios where it can be filed. Understand the implications for reducing total tax liability, increasing refunds, and carrying forward losses. Get insights into the circumstances in which an updated return cannot be furnished, ensuring compliance with income tax regulations. Explore the provisions of updated return under Section 139(8A) of the Income Tax Act, including eligibility, conditions, and scenarios where it can be filed. Understand the implications for reducing total tax liability, increasing refunds, and carrying forward losses. Get insights into the circumstances in which an updated return cannot be furnished, ensuring compliance with income tax regulations. Explore the provisions of updated return under Section 139(8A) of the Income Tax Act, including eligibility, conditions, and scenarios where it can be filed. Understand the implications for reducing total tax liability, increasing refunds, and carrying forward losses. Get insights into the circumstances in which an updated return cannot be furnished, ensuring compliance with income tax regulations.
Understand the mandatory filing of Income Tax Returns (ITR) for individuals, HUFs, and entities. Explore cases where filing becomes obligatory, including income limits, business turnovers, and specific scenarios. Get insights from a practicing chartered accountant. Contact for personalized guidance. Disclaimer: This information blog is for knowledge purposes and not a solicitation. Reach out to CA Atif for further assistance.
Understand the taxation of Long Term Capital Gains (LTCG) on the sale of listed equity shares or units of equity-oriented mutual funds under Section 112A of the Income Tax Act, 1961. Explore the tax rate of 10%, exemptions up to Rs 1,00,000, and the calculation of the cost of acquisition. Learn about the basic exemption limit benefit, treatment of deductions and investments, and the rebate on tax for residents earning total income up to Rs 5,00,000. Note that this information is for informational purposes and not solicitation.
Learn about Section 54 exemption from capital gains tax on the sale of a house property as per the Finance Act 2023. Understand eligibility, conditions, limits, consequences, and revocation of the exemption.
Understand TDS on Immovable Property as per Sec 194IA, including conditions, analysis, and examples for both resident and non-resident buyers and sellers.
Taxability of STCG on Non-Resident Individuals Equity Shares/Units of Equity Oriented Mutual Funds. Basic exemption limit applies to dividend/interest income @ 15%. Income Tax Act, Sec. 111A
