Income Tax : Understand the tax rules for capital gains on compulsory land acquisition (Section 45(5)), including the taxation of initial and e...
Income Tax : Section 194IA of the Income Tax Act mandates buyers to deduct 1% TDS on property transfers exceeding ₹50 lakh. The 2025 amendmen...
Income Tax : Finance Bill 2025 increases the TDS threshold for compensation on compulsory acquisition of immovable property under Section 194LA...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
Income Tax : Gujarat High Court held that non-filing of Income Tax Return as ignorant about deduction of TDS on account of land acquisition rea...
Income Tax : Accordingly, the Petitioner preferred an application u/s. 119(2)(b) of the Income Tax Act, 1961 on 23.03.2020, seeking condonation...
Income Tax : Chief Accounts Officer Vs ITO (ITAT Bangalore) Provisions of section 194LA of the Act would apply only in the case of a compulsory...
Income Tax : CIT (TDS) Vs M/s Mumbai Metropolitan Regional (Bombay High Court) Section 194LA of the I.T.Act, 1961 inter alia deals with payment...
Chief Accounts Officer Vs ITO (ITAT Bangalore) Provisions of section 194LA of the Act would apply only in the case of a compulsory acquisition and not to a case where lands were surrendered by land owners under section 14B of KTCP Act. Hon’ble High Court also held that since BBMP is not paying consideration for […]
Analysis of Section 194LA of Income Tax Act, 1961 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 […]
Understanding Section 194IA, 194IB & 194LA of the Income Tax Act, 1961. Learn about the provisions and deductions related to property transfers.
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 […]
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 […]
TDS Rate Chart or TDS Rate Table For Assessment year 2020-21 (AY) / Financial Year (FY) 2019-20 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after considering the […]
Article covers TDS provisions under Section under Section 194LB – Income by way of interest from Infrastructure Debt Fund,Section 194LBA – Certain Income from units of business trust, Section 194LBB – Income in respect of units of the investment fund and Section 194LBC – Income in respect of investment in securitization trust. Section 194LB – […]
Section 194LA: Payment of Compensation on acquisition of certain immovable property With effect from 1st October 2004, new section 194LA was inserted into the Income Tax Act, 1961. Section 194LA relates to the TDS provisions applicable on the payment of compensation at the time of acquisition of certain type of immovable property. The present article […]
TDS Rate Chart for the Financial Year (FY) -2019-2020 / TDS Rate Chart for the Assessment Year (AY) -2020-2021. Article Prescribes Nature of Payment on which TDS is deductible, Section under which TDS is deductible, Basic amount per annum on which TDS is not deductible, TDS rate if PAN is not deductible. TDS rates are […]
CIT (TDS) Vs M/s Mumbai Metropolitan Regional (Bombay High Court) Section 194LA of the I.T.Act, 1961 inter alia deals with payment of compensation on acquisition of certain immovable property. Section 194LA of the I.T.Act, 1961 was brought into force with effect from 1st October, 2004. Section 194L of the I.T.Act, 1961 deals with payment of […]
