including sale of property.TDS on sale of property is applicable under Section 194-IA of the income tax law. However, buyers and sellers need not worry about TDS implications at all if the property value is up to Rs 50 lakh. On property deals involving more than Rs 50 lakh, TDS on pro...
Threshold limit amounts Deducting TDS on the total invoice value vs. the taxable value under section 194Q Set up TDS under section 194 Q 显示另外 9 个 Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS ...
Threshold limit amounts Deducting TDS on the total invoice value vs. the taxable value under section 194Q Set up TDS under section 194 Q 显示另外 9 个 Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS ...
This value will be considered as part of the total transaction value to compare with the threshold limit. TDS under section 194Q should be deducted on the total invoice value (Including GST) or taxable value excluding GST amount? CBDT must issue a clarification on this iss...
Threshold limit amounts Deducting TDS on the total invoice value vs. the taxable value under section 194Q Set up TDS under section 194 Q 顯示其他 9 個 Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS ...
30,000 are not liable to TDS, except the director’s fees, where no such limit is applicable. 3. TDS on rent payments under section 194I Small businesses and startups rent certain assets for their day-to-day operations. Section 194I is applicable on any amount paid for lease, sublease...
(Under section 194BB) Contractors and sub-contractors (Under section 194C) Insurance commission (Under section 194D) Income from deposit under national saving scheme (Under section 194EE) Income from mutual fund or UTI (Under section 194F) Commission, Remuneration, Prize etc., on sale or ...
Section 194G: Payments such as commission, etc., on the sale of lottery tickets 5% Section 194H: Commission or brokerage 5% Section 194-I: Rent on a) Plant and Machinery b) Land/building/furniture/fitting w.e.f 1st April 2019, tax deduction limit on rent is increased to Rs 2.4 la...
The salient features of Section 194-O are as below a) An ECO is liable to deduct TDS @ 1 percent on the gross amount. b) TDS is applicable on the sale of goods as well as services through the ECO. c) TDS is not applicable where the value of transaction of an Individual or HUF ...
key features of TCS on goods sale section-206c New TDS deduction No cash transactions exceeding 1 Crore -Section 194N Extention of TDS/TCS statement filing Date TDS payment to resident contractors Consequences of not deducting TDS and Non payment or Late payment Due Date are closer than they ...