INCOME TAX Archives - Page 21 of 22

Due Date for Filing Income Tax Returns for AY 2024-25 Extended: CBDT Circular No.13/2024

By admin October 26, 2024Audit, INCOME TAXNo Comments

Due Date for Filing Income Tax Returns for AY 2024-25 Extended: CBDT Circular No.13/2024 The Central Board of Direct Taxes (CBDT) recently issued Circular No.13/2024 dated October 26, 2024, which…

Employees can claim TCS credit against TDS deduction on salary

By admin October 26, 2024INCOME TAX, TCS, TDSNo Comments

Employees can claim TCS credit against TDS deduction on salary Introduction The Union Budget 2024 introduced a noteworthy amendment to India’s tax framework, specifically aimed at providing relief to salaried…

TDS 194IA : TDS on the purchase of immovable property

By admin October 25, 2024INCOME TAX, TDSNo Comments

TDS 194IA : TDS on the purchase of immovable property When a buyer buys immovable property (i.e. a building or part of a building or any land other than agricultural…

Section 194I – TDS on Rent

By admin October 25, 2024INCOME TAX, TDSNo Comments

Section 194I - TDS on Rent As per Section 194I, the word rent can be described as a payment categorised as a lease, sub-lease, tenancy, or any agreement to use…

Section 194C – TDS On Payment To Contractor

By admin October 23, 2024INCOME TAX, TDSNo Comments

Section 194C – TDS On Payment To Contractor Section 194C of Income Tax Act, 1961 deals with the TDS that has to be deducted from specific payments made to resident…

Revised Guidelines for Preventing Prosecution in Income Tax Offences: A Major Relief for Taxpayers

By admin October 23, 2024CBDT, Circulars, INCOME TAXNo Comments

Revised Guidelines for Preventing Prosecution in Income Tax Offences: A Major Relief for Taxpayers The Income Tax Department has recently issued revised guidelines for compounding offences under the Income Tax…

Section 194M:TDS Guide for High-Value Payments by Individuals and HUFs

By admin October 22, 2024INCOME TAX, TDSNo Comments

Section 194M:TDS Guide for High-Value Payments by Individuals and HUFs What is Section 194M? Section 194M was introduced in the 2019 Union Budget to make sure that individuals and Hindu…

Section 194A – TDS on Interest Other than Interest on Securities

By admin October 21, 2024INCOME TAX, TDSNo Comments

Section 194A - TDS on Interest Other than Interest on Securities Section 194A covers the provision for TDS deduction on interest other than securities. This means it covers interest earned…

Section 194J – TDS on Payment for Professional or Technical Services

By admin October 21, 2024INCOME TAX, TDSNo Comments

Section 194J - TDS on Payment for Professional or Technical Services TDS Section 194J is seeing renewed attention after the passage of Finance Bill 2020, which includes amendments to Section…

Govt reduces charges for TDS default from multiple rates of 2,3 and 5 % to single rate of 1.5 %

By admin October 21, 2024CBDT, CBDT Amnedment, INCOME TAX, TDSNo Comments

Govt reduces charges for TDS default from multiple rates of 2,3 and 5 % to single rate of 1.5 % In a significant move towards simplifying the tax compliance landscape…

Due Date for Filing Income Tax Returns for AY 2024-25 Extended: CBDT Circular No.13/2024

Employees can claim TCS credit against TDS deduction on salary

TDS 194IA : TDS on the purchase of immovable property

Section 194I – TDS on Rent

Section 194C – TDS On Payment To Contractor

Revised Guidelines for Preventing Prosecution in Income Tax Offences: A Major Relief for Taxpayers

Section 194M:TDS Guide for High-Value Payments by Individuals and HUFs

Section 194A – TDS on Interest Other than Interest on Securities

Section 194J – TDS on Payment for Professional or Technical Services

Govt reduces charges for TDS default from multiple rates of 2,3 and 5 % to single rate of 1.5 %

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