Tag Archives: TDS

“A chain is only as strong as its weakest link” – Someone must have reminded the Government of this proverb and from thereon, the Government has relentlessly engaged in linking business’. They don’t want to leave any weak links in any financial transactions. They have done straight links, cross links …

If you are an individual, taken a house / flat on a monthly rent of Rs.50000, you have to deduct tax (TDS) at the rate of 5% and pay it to the government. Are you aware of this TDS provision on Rent? If not, here you go- A new Section …

  For the last 15 days, I would have got at least 10 queries about TDS on withdrawal of Provident Fund. Here is how the question goes ‘my employer is asking me to submit by name Form 15G. If I won’t submit, they deduct tax it seems. Can you help …

Letting of property attracts TDS provisions, with certain exceptions. Some of the commonly asked questions about TDS on rental income are summarized below. In case, readers have any other questions, please mention in the comment section.   Limit of Rs.180000 – In case, any property – residential or commercial is …

As you may be aware, the due date (May 15, 2015) for filing of TDS statements for Q4, Financial Year 2014-15 is approaching fast and therefore, CPC (TDS) is reaching out to you to ensure that best practices are followed in exercise of the above activity. Key information to note:   CPC …

There are three mains reasons why people keep deposits in co-operative banks. One, the bank is closer to their home and the staff there is more friendly compared to the staff in nationalized banks. Two, the bank offers higher rate of interest compared to nationalized banks. Three, the interest on …

  Indian Income Tax Act has prescribed many tedious procedures for tax compliance. Deduction and payment of Tax (TDS) is one among them. This article lists out some of the vital points of TDS matters.   What is TDS?   Tax deduction at source means the tax required to be …

  Where payment has been made to non-residents who did not have PAN and tax has been deducted on the strength of the provisions of DTAAs, the provisions of section 206AA could not be invoked by the AO to insist on the tax deduction at 20% having regard to overriding nature of Section 90(2). …

The provisions of this section states that TDS on sale of Immovable Property should be deducted at source from payment on transfer of immovable properties (other than agricultural land) where the consideration paid or payable is more than Rs 50,00,000/-. Earlier, there was no such deduction in case of immovable …

Section 194 IA: Payment on transfer of certain Immovable Property other than Agricultural Land (with effect from 01.06.2013) Vide BUDGET 2013, read with Notification No.39/2013 dated 31st May, 2013, a new Section 194-IA was inserted to Income Tax Act, 1961 in the case of transfer of immovable property (situated in India or abroad/commercial or …