Section 194IB requires any person, being individual or HUF, other than those individual or HUF whose total sales, gross receipts or turnover from the business or profession exceeds Rs. 1 crore in case of business and Rs. 50 lakhs in case of profession in the financial year immediately preceding the financial year in which such […]
As per Section 194IA Every transferee responsible for paying any sum as consideration for transfer of immovable property (land, other than agricultural land, or building or part of building) to a resident transfer shall deduct tax, at the rate of 1% of such sum or the stamp duty value of such property, whichever is higher.
Section 194IA : TDS on Purchase of Immovable Property with Latest Case Laws Read More »
Section 194I : Applicability and Rate Any person other than individual or HUF, who is responsible for paying to a resident any income by way of rent, shall deduct income tax at the rate of: (i) 2% in respect of rent for plant, machinery or equipment; (ii) 10% in respect of other rental payments (i.e.,
Section 194I – A Complete Guide on TDS on Rent Paid as per Income Tax Act, 1961 Read More »
Applicability of Section 194J and Rate of TDS Every person other than an individual or a HUF, who is responsible for paying to a resident any sum by way of – (i) fees for professional services; or (ii) fees for technical services; or (iii) any remuneration or fees or commission, by whatever name called, other
Section 194J : TDS on Fees for Professional or Technical Services Read More »
Section 194C provides for deduction of tax at source from the payment made to resident contractors and sub-contractors. Applicability of TDS under Section 194C Tax has to be deducted at source under section 194C by any person responsible for paying any sum to a resident contractor for carrying out any work (including supply of labour
Section 194C – TDS on Payment to Contractors & Sub Contractors Read More »
Section 234D : As per Rule 119A, while calculating the interest payable by the taxpayer or the interest payable by the Central Government to the taxpayer under any provision of the Act: a) where interest is to be calculated on annual basis, the period for which such interest is to be calculated shall be rounded
Section 234D – Interest on Excess Refund to the Taxpayer Read More »
Books of Accounts to be maintained by a person
Section 44AA : Books of Accounts to be maintained Read More »
Annual Information System (AIS) and TIS
Everything you need to know about Annual Information Statement (AIS) Read More »
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