TDS on Partner’s Remuneration introduced in the Budget 2024
TDS on Partner’s Remuneration introduced in the Budget 2024: Introduction: 1. Budget 2024 proposes a deduction of TDS @ 10% on payment by a partnership firm or a LLP to … Read More
Tag: TDS
Lower Tax Deduction certificate (TDS)
What is lower tax deduction certificate (TDS)? 1. Under Section 197 of the Income Tax Act, 1961 the assessee can apply for a lower rate of tax to be deducted … Read More
TDS on Housing Rent
TDS on Housing Rent Applicability of TDS payment u/s 194IB & u/s 195 of the Income Tax Act in the case of housing rent payments to landlords is as bellow … Read More
TDS exemption is available U/S 194C in case of a declaration, even when the transporter is not the owner: ITAT Jodhpur
TDS exemption is available U/S 194C in case of a declaration, even when the transporter is not the owner: ITAT Jodhpur Adhunik Khanan VA Parivahan Theka Sahakari Samiti Limited Vs. … Read More
Taxation on income of foreign IPL players
Taxation on income of foreign IPL players: The legal position and the mechanism is explained as below: 1. Section 115BBA of the Income Tax Act provides the answer: This section … Read More
Taxation of Dividends FY 2020-21
The Budget 2020 has announced to abolish the Dividend Distribution Tax (DDT) payable by Indian Companies and restoring the classical system of Taxing Dividends in the Shareholders’ Hands. This was … Read More
Extension of TDS/TDS Return Due Date for Quarter Ended March 2020
NSDL e- Governance Infrastructure Limited TIN Operations Circular Circular No. NSDL/TIN/2020/006 April 20, 2020 Subject: Extension of Quarterly TDS/TCS statement filing dates.
CBDT Clarification on Income Tax Slab Rate TDS that needs to be deducted by employer on salary of employees – Old Slab Rate or New Rate
As per CBDT, Employer has to take declaration from Employee. An employee, having income other than the income under the head “profits and gains of business or professions” and intending … Read More
Order on Issue of Certificates for Lower Rate/Nil Deduction/Collection of TDS/TCS
Order u/s 119 of The Income Tax Act, 1961 on issue of certificates for lower rate/nil deduction/collection of TDS or TCS u/s 195, 197 and 206C (9) — reg.
Extension of validity of Lower or Nil Tax Deduction/Collection Certificate
Due to COVID-19 pandemic, all establishments including the income tax office are not working to full capacity and hence the income tax officers were unable to issue certificates u/s. 197 … Read More