CA RS KALRA's Posts - Page 4

Section 194N TDS on cash withdrawal from banks/post offices

1. Who is responsible to deduct tax u/s 194N? Every person, being,— (i) a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act); (ii) a co-operative society engaged in carrying on the business of banking; or (iii) […]...

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Posted Under: Income Tax |

Section 194M TDS on payments of certain Sums by Individual & HUF

Section 194LA a. This section is effective from 1-10-2004 which provides as follows; Any person responsible for paying any sum to a resident is required to deduct tax at source; b. The payment must be in the nature of compensation or the enhanced compensation or the consideration or the enhanced consideration on account of compulsory [&he...

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Posted Under: Income Tax |

Section 194LBC TDS on Income in Respect of Investment in Securitization Trust

1) Who is responsible to deduct tax u/s 194LBC? Any person who gives income to an investor with respect to investment in securitization trust is required to deduct tax under this section. 2) When to Deduct TDS under Section 194LBC? The time of deduction is earlier of, the credit of income to the account of […]...

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Posted Under: Income Tax |

Section 194LBB TDS on Income in Respect of Units of Investment Fund

1) Who is responsible to deduct tax u/s 194LBB? Any person who gives an income (as referred u/s 115UB) to a unit holder in respect of units held in an investment trust has to deduct tax under this section. 2) When to Deduct TDS under Section 194LBB? The time of deduction is earlier of, the […]...

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Posted Under: Income Tax |

Section 194LBA TDS on Certain Income from Units of a Business Trust

1) Who is responsible to deduct tax u/s 194LBA? Any person who makes payment of income [as per section 115UA] which is payable by a business trust to its unit holder is required to deduct tax at source. Such unit holder can be a resident, non-resident (but not a company). 2) When to Deduct TDS […]...

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Posted Under: Income Tax |

Section 194LB TDS on Income by way of Interest from Infrastructure Debt Fund 

1) Who is responsible to deduct tax u/s 194LB? Any person who makes payment of interest [which is payable by an infrastructure debt fund, as per section 10(47)] to non-resident (not a company/ foreign company) is required to deduct tax at source. 2) When to Deduct TDS under Section 194LB? It will be deducted at […]...

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Posted Under: Income Tax |

Section 194LA TDS on Payments of Compensation on Acquisition of certain Immovable Property

Section 194LA This section is effective from 1-10-2004 which provides as follows; a. Any person responsible for paying any sum to a resident is required to deduct tax at source; b. The payment must be in the nature of compensation or the enhanced compensation or the consideration or the enhanced consideration on account of compulsory [&he...

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Posted Under: Income Tax |

Section 194J TDS on Professional or Technical Fees

1) Who is responsible to deduct tax u/s 194J? Any person, not being an individual or a HUF, who is responsible for paying to a resident any sum by way of:- 1. Fees for professional Services Professions are notified under section 44AA Accountancy Architectural Authorised Representative Company Secretary Engineering Film Artists/Actors, Cam...

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Posted Under: Income Tax |

Section 194IC TDS on Payment Made Under Specified Agreement

1) Who is responsible to deduct tax u/s 194IC? Any person responsible for paying to a resident any sum by way of consideration under the specified agreement under section 45(5A) i.e. under the Joint Development Agreement, shall deduct tax at source. 2) What is meant by the Joint Development Agreement? Joint Development Agreement is an [&h...

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Posted Under: Income Tax |

Section 194IB TDS on Rent of Property

1) Who is responsible to deduct tax u/s 194IB? Any person, being an individual or a Hindu undivided family (not covered under section 194I), responsible for paying to a resident any income by way of rent exceeding ₹ 50,000 for a month or part of a month during the previous year, shall deduct income-tax thereon […]...

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Posted Under: Income Tax |

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