Tag Archives: TDS

TDS on cash withdrawal from the Bank

“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 …

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TDS on rent of 50000 per month

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 …

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12 points to know about TDS on Rental Income

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 …

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8 things to know about TDS provisions

  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 …

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TDS on purchase of immovable property

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 …

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TDS on sale of immovable property

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 …

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