Income Tax : Understand TDS on rent under Sections 194-I and 194-IB, including threshold limits, rates, timelines, filing requirements, and PAN...
Income Tax : Delhi High Court rules CAM charges are contractual payments under Section 194C, not rent under Section 194I, clarifying TDS obliga...
Income Tax : Understand the income tax implications of upfront lease premiums in BOT leases for lessors and lessees, including taxability, TDS,...
Income Tax : Understand Section 194I for TDS on rent, including applicable rates, thresholds, and clarifications for various rent types. Stay i...
Income Tax : Section 194-I amendment raises rent TDS threshold to Rs. 50,000 per month, effective April 2025....
Income Tax : As per the provisions of section 194-I, the tax is to be deducted at source @10% in respect of income by the way of rent for any u...
Income Tax : The issue was whether compensation paid to flat buyers was capital or revenue expenditure. The Court held it to be revenue expendi...
Income Tax : ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verific...
Income Tax : The Court reaffirmed that lease rent paid for use of land qualifies as “rent” under Section 194I. Revenue’s appeals were dis...
Income Tax : Unexplained cash deposits and rent discrepancies led to rejection of books under section 145(3). However, the Tribunal held that e...
Income Tax : The ruling clarifies that TDS must be deducted at the time of credit, even if amounts are booked as provisions. Merely claiming th...
Income Tax : A dispute arose on applicability of the provisions of section 194-I of the Act, on payment of Passenger Service Fees (PSF) by an A...
Income Tax : The issue of whether or not TDS under section 194-I of the Act is applicable on 'lump sum lease premium' or 'one-time upfront leas...
Income Tax : Central Government hereby notifies that no deduction of tax shall be made from payments of the nature specified in section 193 or ...
Income Tax : Circular No. F. No.275/73/2007-IT(B) Service Tax component to be considered for deducting tax on any sum paid as professional and...
The issue under consideration is whether the TDS u/s 194I is applicable on the rent if the accommodation services were taken on a casual basis?
All about TDS on Rent Meaning of Rent ‘Rent’ means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— 1. land; or 2. building (including factory building); or 3. land appurtenant to a building (including factory building); or […]
Earlier, Rent paid in India was covered under section 194-I which covered Individuals and HUF who are liable to get their accounts audited under the Income-tax Act. This section left a huge portion of rent prayers uncovered as not everyone became liable for Audit. To cover this portion, A new section 194-IB was inserted through […]
What is the definition of Rent? Rent is defined as the payment made under any lease, sub-lease, tenancy or any other agreement or arrangement. Such payment is made for the use of land or building or for land appurtenant to a building, machinery or plant or equipment or furniture or fittings.
Simple TDS Rate Chart for Financial Year 2020-21 – Applicable from 14th May 2020 Kindly Note amended rates are been given on the basis of PIB Notification dated 13.05.2020 and on the date of Publication of this post no notification in this regard is been notified by the CBDT. Press release can be accessed at […]
All you need to know about TDS on Rent under section 194I of Income Tax Act, 1961. What is rent according to the section 194-I and the time limit within which tax is to be deposited?
The issue under consideration is whether A.O. is correct in denial of credit of TDS on rental income collected by the appellant under an agreement on behalf of Government?
M.P. Warehousing & Logistics Corporation Vs ACIT (ITAT Indore) From perusal of the above details which stands un-rebutted, we find that the assessee had duly deducted the tax at source on the rent paid to the co-owners where the amount of rent exceeded the limit of Rs.1,80,000/- and in two cases where the amount was […]
TDS Rate Chart For Assessment year 2021-22 /Financial Year 2020-21 As we all are aware that yesterday our Honourable Finance Minister has conducted press release. In that press release she declared that The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the […]
Section 194I was inserted vide the Finance Act, 1994. The present article covers the important Frequently Asked Questioned regarding section 194-I of the Income Tax Act, 1961, which deals with the provisions of TDS on Rent. Q.1 Who is liable to deduct TDS on Rent under Section 194I of Income tax Act, 1961? A.1. Any […]
