Payment for Commission or brokerage (Section 194H) Payment of rent (Section 194I) Payment of fees for professional or technical services (Section 194J) Commission to Stockiest, distributors, buyers and sellers of Lottery tickets including remuneration or prize on such tickets (Section 194G) Income...
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:...
Commission or brokerage 5% 194H Rent on plant and machinery 2% 194-I(a) Rent on land/building/furniture/fitting 10% 194-I(b) Sale of immovable property (other than agricultural land) 1% 194-IA Payment under Joint Development Agreements (JDA) to Individual/HUF 10% 194-IC Professional fees...
194Deemed DividendResident IndividualRs. 2500 each Financial year.10% 194AInterest excluding interest on securities.ResidentRs 10000 if the interest is paid by the following: Banks; Co-operative Banks; or Post Office deposits. In any other case, Rs. 5000 will be the limit.10% ...
interest on dividends etc.The various payments for which TDS is deducted,Threshold limit(above which TDS is deducted), therateat which it is deducted for Resident Individual or Hindu Undivided Family(HUF), Domestic Company or Firm with appropriate Income Tax Section Code and links to the Income...
Individual/HUF = 1% of the sum paid. Any other person = 2% of the sum paid. 194D Insurance Commission Any Resident Rs. 15,000/- per Financial Year 10% 194DA Amount under LIC Resident Aggregate payment should be less than Rs. 1,00,000/- in the FY 1% 194H Brokerage or Commission ...
brokerage, contractual fee, professional fee to a resident person by an Individual or a HUF who are not liable to deduct TDS under section 194C, 194H, or 194J. 194M 5% 5% 20% 30 E-Commerce operator for sale of goods or provision of service facilitated by it through its digital or el...
The provisions of deduction of tax at source are applicable to several payments such as salary, interest, commission, brokerage, professional fees, royalty, contract payments, etc. In respect of payments to which the TDS provisions apply, the payer has to deduct tax at source on the payments...
Payment for Commission or brokerage (Section 194H) Payment of rent (Section 194I) Payment of fees for professional or technical services (Section 194J) Commission to Stockiest, distributors, buyers and sellers of Lottery tickets including remuneration or prize on such tickets (Section 194G) Income...
For Capital gains on other assets like house property, gold Long term capital gains are subject to a TDS of 20 per cent. Short term capital gains are subject to a TDS of 30 per cent. The payer of the sale proceeds, even if he is an individual is responsible for deducting tax at sour...