May 28, 2024: The transit rent paid by the developer to the owner when the property goes for redevelopment does not qualify as revenue/income and so cannot be taxed, the Bombay High Court in … READ FULL STORY
Under Section 194-IA of the income tax law, property buyers in India are obliged to deduct tax at source (TDS) if the property value is more than Rs 50 lakh. On property deals worth … READ FULL STORY
There are many jargons that you will encounter while dealing in real estate. One such is the Tax Deducted at Source (TDS) on sale of property. Listed under section 194-IA of Income Tax Act, … READ FULL STORY
The income earned by individuals from renting a property is subject to taxation if it exceeds a specified amount. The provisions of Section 194-1 of the Income Tax Act, 1961, mention the tax deducted … READ FULL STORY
Under the Indian income tax (IT) laws, a property owner is liable to pay taxes to the government on its sale, based on the holding period and profit earned (known as capital gains). The … READ FULL STORY
TDS is among the many taxes that people earning an income or profit must pay to the government, under the income tax laws. This guide will help you understand the nitty-gritties of TDS, TDS … READ FULL STORY
Under the Indian income tax laws, people making specific payments are liable to deduct tax from the payment amount at the source. Under Section 194J of the Income Tax Act, people are liable to … 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
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
Under India’s income tax law people making certain payments are responsible for deducting tax at source (TDS) from the amount. Section 195 of the Income Tax Act deals with TDS deductions on NRI income. … READ FULL STORY
To better collect taxes, the deduction of tax at source, also known as TDS, has proven to be a valuable tool. The stress of paying taxes and submitting income tax returns is lightened for … READ FULL STORY
Employers of those who earn a taxable income are liable to deduct tax, known as TDS, when paying salaries. This tax deduction on the part of the employer is documented in Form 16. … READ FULL STORY
What is a TDS refund? TDS is the money deducted from a taxpayer’s salary, interest from bank accounts, rent, sale of property, and the like. A taxpayer can claim a TDS refund when the … READ FULL STORY
