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Furthermore, TDS or deduction of tax at source is applicable to certain payments. It includes brokerage, salary, interest, professional fees, contract payments, royalty, and more. Also, TDS is applicable despite the payment mode such as credit, cash, or cheque. Update on the Budget for 2021:...
If a trader takes 10 trades in a month, he will have to earn at least 10 percent on these trades cumulatively, just to recover the TDS cost. Although the rules have not been defined clearly when it comes to trades or ‘asset transfers’, brokerage and GST charges further mitigate earning...
The NRI is also allowed deduction for principal repayment under section 80C. Stamp duty and registration charges paid on purchase of a property can also be claimed under section 80C. A tenant who pays rent to an NRI owner must remember to deduct TDS at 30%. The income can be received to...