Why Gen TDS Software for Form 26QB? How to File Form 26QB by Gen TDS Software Key Attributes of Form 26QB Under TDS Section 194-IA In the Income Tax Act, 1961 few key rules have been framed that are related to the purchase and sale of immovable property. In the aforesaid transactions...
Sale/purchase of any immovable property. (Amount exceeding INR 10 lakh) Sale/purchase by any person of goods/service of any nature except those mentioned from 1 to 17. (As notified by the central government) IMPORTANT POINTS TO REMEMBER When a person involved in any of the above mentioned ...
Under GST, Works contract refers to- "A contract for the building construction, fabrication, installation, completion, improvement, erection, modification, repairs, maintenance, renovation, fitting out, alteration or commissioning of an immovable property in which the transfer of the property in goods ...
Tax Deducted on Immovable Property Sale Details under Section S194IA: BuyerIf you have purchased a property, you must subtract TDS before paying the dealer. Part F of Form 26AS contains information on the TDS that you have deducted and deposited. TDS DefaultsDefaults related to remarks processin...
Linking your bank account to PAN can help you claim a refund if TDS deducted is more than actual tax. The PAN card is a mandatory identity proof required while opening a new bank account. Buying and selling immovable assets like property and car worth more than Rs.10 lakh. Financial transa...
Impact on Rental Income from Immovable Property in GST Regime 'Generating rental income from the renting of immovable property' has been included in schedule II which outlines it as the supply of services under Goods and Service Tax Regime. The GST rate prescribed on the said service is 18 per...
In the tax accounting of a Maltese company, the income earned by it must be recorded in one of four tax accounts: “foreign profits”, “Maltese profits”, “profits from immovable property”, “non-taxable income”. Each type of income is taxed according to its own rules. The final amou...
GST on Rent | Impact of GST on Rental Income from Immovable Property Impact on Rental Income from Immovable Property in GST Regime 'Generating rental income from the renting of immovable property' has been included in schedule II which outlines it as the supply of services under Goods and Servi...
Impact on Rental Income from Immovable Property in GST Regime 'Generating rental income from the renting of immovable property' has been included in schedule II which outlines it as the supply of services under Goods and Service Tax Regime. The GST rate prescribed on the said service is 18 per...