Considering all incomes in India are taxable, those earning interest on securities are also liable to pay tax. This tax is deducted in the form of TDS under the provisions of Section 193 of … READ FULL STORY
May 19, 2023: Income earned through the Mahila Samman Savings Certificates will not attract TDS (tax deducted at source), the Central Board of Direct Taxes (CBDT) has notified. This interest income, however, will be … READ FULL STORY
Are individuals required to pay taxes on commissions and brokerages? The answer is yes. You must pay taxes on brokerages and commissions, in accordance with Section 194H of Income Tax Act of India. In … READ FULL STORY
What is section 1940 of the Income Tax Act? Section 194O of the Income Tax Act pertains to the TDS (Tax Deducted at Source) on e-commerce transactions. What is the rate of tax … READ FULL STORY
Entities responsible to deduct TDS or Tax Deducted at Source under the Income Tax (I-T) law must deduct a certain portion of the payment involved and submit it to the I-T Department. The TDS … READ FULL STORY
Under the income tax laws in India, employers have been tasked with the job of deducting tax from the income of the employees at the time of payment of the salary. Section 192 of … READ FULL STORY
Cash withdrawals are discouraged by the Government of India by making it expensive through TDS cut. This is where Section 194N comes into force. See also: TDS: All you need to know about … READ FULL STORY
Companies paying dividends to their resident Indian customers are responsible to deduct TDS from this income under Section 194 of the income tax law. This rule is not applicable on business trusts and special purpose vehicles. See also: How TDS on securities interest is … READ FULL STORY
Tax Deducted at Source (TDS) is a sytem under which tax is directly collected at the point of generation of income. Under the income tax laws in India, TDS is deducted by the payer, … READ FULL STORY
Section 194J of the Income Tax Act pertains to the tax deduction on payments made to professionals or for technical services. According to this section, any person responsible for making payments to a professional … READ FULL STORY
The government’s tax on real estate is known as the property tax. It is also known as a property assessment or land tax. Property tax rates can vary widely depending on the geographic location … READ FULL STORY
Under Section 194N, TDS (tax deducted at source) is applicable in case you withdraw large amounts from your bank account that exceed a specific threshold. This guide will help you understand the extent of … READ FULL STORY
Section 194C of the Income Tax Act talks about the deduction of tax at source from an individual contractor or subcontractor payments. As per this provision of this section, TDS on the contractor’s payment … READ FULL STORY
