Income Tax : Section 194-IB mandates Individuals and HUFs to deduct 2% TDS on rent exceeding ₹50,000 per month. Know provisions, due dates, e...
Income Tax : Understand TDS on rent under Sections 194-I and 194-IB, including threshold limits, rates, timelines, filing requirements, and PAN...
Income Tax : Learn how tenants can claim refunds for excess TDS deducted on rent under Section 194-IB of the Income Tax Act. Follow a detailed ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
Income Tax : Learn about the amendment to section 194-IB of the Income-tax Act, reducing TDS on rent payments from 5% to 2% effective from Octo...
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...
Income Tax : The tribunal ruled rental income from administrative buildings must be taxed under house property, not other sources, emphasizing ...
Income Tax : Madras High Court held that addition towards difference between purchase value and guideline value without awaiting report of valu...
Income Tax : In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number...
Explore essentials of TDS on property transactions (Section 194-IA) & rental income (Section 194-IB) in India. Learn compliance, thresholds, and more.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
Navigate TDS on Rentals with clarity on Section 194I, 194IB, and 194IC. Learn about rates, applicability, and differences between sections. Stay compliant and informed in rental transactions.
Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.
Rationalization of provisions of section 206AB and 206CCA to widen and deepen tax-base In order to widen and deepen the tax-base and to nudge taxpayers to furnish their return of income, Finance Act, 2021 inserted sections 206AB and 206CCA in the Act. The said sections provide for special provision for deduction and collection of tax […]
In the present article we will briefly take up the Annual Information Statement covering the Rent received category. AIS information category – Rent received- The broad categories of information covered in AIS is divided into 50 categories. One such category is ‘Rent received’. Notably, the information under the category of ‘Rent received’ will be figure-out […]
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 […]
Learn about CHALLAN Cum RETURNS under TDS provision: types, forms, and rates. Understand the process of deducting TDS on property transactions and payments to contractors and professionals.
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 […]
Understanding Section 194IA, 194IB & 194LA of the Income Tax Act, 1961. Learn about the provisions and deductions related to property transfers.
