TDS Rate Chart for FY 2024-25 - TDS is applicable on various payments like contractor payments, salary, commission etc. Check out TDS rate chart for FY 2024-25 & AY 2025-26.
He is responsible for making payments to the e-Commerce participant on such sales. E-Commerce Participant An e-Commerce participant is a person who sells goods, services, or both through an electronic facility provided by an e-commerce operator. He must be a resident of India. E-...
Insurance Commission covering all payments for procuring Insurance business (Section 194D) Any interest other than interest on securities payable to non-residents not being a company or to a foreign company (Section 195) Payment to non-resident sportsman including athlete or sports association or inst...
The proposed date of applicability for section 194Q is July 1, 2021. Per the charging proviso to this section, the section will apply to any person who is a buyer, and who is responsible for making payments to a resident for the purchase of goods when the value or aggregate of either ...
194-IATransfer of immovable propertyResident & TransferorConsideration of Rs 50lakhs.1% 194JRoyalty, Director Remuneration, Professional or technical service fees, Non-compete feesResidentRs. 30000 for each income in the FY (Not applicable to payment to the director).10% ...
a mutual debt fund’s distribution of redemption proceeds is not tax-deductible for residents, but it is for non-resident Indians. TDS says that anyone making a specific payment to another person must take out tax at the source at the rates set out in the Income-tax Act and put it in ...
There is no threshold limit for deduction of tax at source if payment is made to a director of company under Section 194J; Any fees paid through regular banking channels to any Chartered Accountant, lawyer, advocate or solicitor, who is resident in India by the non-residents who do not ...
A resident person, when making payments for interests, natural sources, rent, royalties or service fees, must deduct TDS at the rate of 15% of the payment. However, if interest is paid to an individual for a deposit, debenture or
TDS and Tax for Mutual Funds for NRI For investing in Indian mutual funds, therefore, an NRI needs to open one of the three bank accounts-non-resident external rupee (NRE) account, non-resident ordinary rupee (NRO) account or foreign currency non-resident account (FCNR)-with an Indian ban...
194CContractor paymentsResident contractor- Single payment is exceeding Rs. 30000; or -Aggregate sums paid in the FY exceeding Rs. 100000.- Individual/HUF = 1% of the sum paid. - Any other person = 2% of the sum paid. 194DInsurance CommissionAny ResidentRs. 15000 per Financial Year10% ...