A clear breakdown of when TDS applies to life insurance payments, threshold limits, rates, exemptions, and how income is computed for taxable policies. Key takeaway: Only the income portion of non-exempt payouts is subject to TDS.
Learn when and how sellers of overseas tour packages must collect TCS from buyers, including exemptions, applicable rates, and threshold limits.
TCS under Section 206C(1G) applies to foreign remittance under LRS by resident individuals. Thresholds and rates differ for education, medical, and others.
Section 194T, effective April 2025, mandates a 10% TDS on firms’ payments (salary, interest, etc.) to partners exceeding ₹20,000 annually. New rules create compliance and non-resident ambiguity.
Key points for auditors on Clause 34 of the Tax Audit Report, covering TDS/TCS compliance, statement furnishing requirements, and interest liability under Sections 201(1A) and 206C(7).
Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in India.
This summary explains ‘on money’ in real estate, how it’s identified during searches, the burden of proof, and key issues in its taxation, including deductibility of expenses and extrapolation.
Section 194J of the Income Tax Act mandates Tax Deducted at Source (TDS) by certain payers on payments made to residents for professional services, technical services, royalty, director’s remuneration, and non-compete fees.
Understand income tax rules for cash deposits in businesses using presumptive taxation (Sec 44AD, 44AE). Learn about unexplained credits and bank statements.
Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections for easy reference.
