Section 194IB

Section 194IB TDS on Rent of Property

Income Tax - 1) Who is responsible to deduct tax  under section 194IB of Income Tax Act, 1961? 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 […]...

Read More

TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

Income Tax - Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...

Read More

Challan Cum Returns Under TDS

Income Tax - What are CHALLAN Cum RETURNS under TDS provision? Types of CHALLAN CUM RETURNS 3 types of CHALLAN Cum Return under TDS No. Form Section TDS certificate Form Description 1 26 QB 194-IA 16B TDS on Payment of transfer of Immovable Property 2 26 QC 194-IB 16C TDS on Rent on Property 3 26 QD 194M […]...

Read More

Income Tax TDS/TCS Amendments vide Finance Act, 2021

Income Tax - Amendments in TDS/TCS as notified vide Finance Act, 2021 as passed by Lok Sabha/Rajya Sabha and Assented by Hon’ble President on 28th March 2021: Hello readers, AS we know TDS /TCS proposals in Finance Bill 2021 notified on 23.03.2021. Let us understand in very simplified manner- Amendment in Section 194 – Exemption from TDS on [&...

Read More

Section 194IA, 194IB & 194LA of Income Tax Act, 1961 In detail

Income Tax - SECTION 194IA: Deduction of tax at source from payment on transfer of certain immovable property  [AY 2021-22]  Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovab...

Read More

Section 194-IB– TDS if monthly rent increases during the previous year

Income Tax - The Finance Act, 2017 inserted new section 194-IB to provide that an Individual or a HUF (other than those covered under clause (a) & (b) of section 44AB of the Act), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of month during the previous year, shall deduct an amount ...

Read More
Sorry No Post Found

Corrigendum to Income Tax Notification No. 48/2017

Notification No. 55/2017-Income Tax [G.S.R. 631(E)] - (23/06/2017) - In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 48/2017, dated the 8th June, 2017, published vide number G.S.R. 561(E), dated the 8th June, 2017, in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section...

Read More

Recent Posts in "Section 194IB"

Section 194IB TDS on Rent of Property

1) Who is responsible to deduct tax  under section 194IB of Income Tax Act, 1961? 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 […]...

Read More
Posted Under: Income Tax |

TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...

Read More
Posted Under: Income Tax | ,

Challan Cum Returns Under TDS

What are CHALLAN Cum RETURNS under TDS provision? Types of CHALLAN CUM RETURNS 3 types of CHALLAN Cum Return under TDS No. Form Section TDS certificate Form Description 1 26 QB 194-IA 16B TDS on Payment of transfer of Immovable Property 2 26 QC 194-IB 16C TDS on Rent on Property 3 26 QD 194M […]...

Read More
Posted Under: Income Tax |

Income Tax TDS/TCS Amendments vide Finance Act, 2021

Amendments in TDS/TCS as notified vide Finance Act, 2021 as passed by Lok Sabha/Rajya Sabha and Assented by Hon’ble President on 28th March 2021: Hello readers, AS we know TDS /TCS proposals in Finance Bill 2021 notified on 23.03.2021. Let us understand in very simplified manner- Amendment in Section 194 – Exemption from TDS on [&...

Read More
Posted Under: Income Tax |

Section 194IA, 194IB & 194LA of Income Tax Act, 1961 In detail

SECTION 194IA: Deduction of tax at source from payment on transfer of certain immovable property  [AY 2021-22]  Provisions of Section 194-IA: (1) Any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovab...

Read More
Posted Under: Income Tax |

Detailed Analysis of Section 194-IB

Section 194-IB is all about TDS applicability on rent income in the hand of Individual and HUF. Many people got confused between Section 194-I and Section 194-IB. Also many people are unaware about compliance part of this hence today I am writing this all inclusive article on Section 194-IB which will include everything from basic section...

Read More
Posted Under: Income Tax |

TDS on Rent under section 194I, 194IB & 194IC

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 ...

Read More
Posted Under: Income Tax |

TDS on rent paid in India & rent paid to a Non-resident in India

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 […]...

Read More
Posted Under: Income Tax |

TDS Return- Form, Due Date and Mode of Filing

The due dates for filing quarterly TDS statements are as follows: 1. Quarter ending of the financial year If deductor is an office of government In case of non-government deductor 2. 30th June 31st July of the financial year 15th July of the financial year ...

Read More
Posted Under: Income Tax |

TDS Rate Chart for Financial Year 2020-21

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 […]...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (5,733)
Company Law (7,724)
Custom Duty (8,775)
DGFT (4,640)
Excise Duty (4,542)
Fema / RBI (4,842)
Finance (5,214)
Income Tax (38,646)
SEBI (4,158)
Service Tax (3,799)

Search Posts by Date

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031