The rate of deduction is based on the status of the entity that receives the payment or provides the service. Statuses include Individual, Hindu Undivided Family (HUF), Company, Firm, Association of Persons (AOP), Body of Individuals (BOI), and Local authority....
Read More Overview on TDS Deduction U/s 194T : Payment by Firm-to-Partner TDS on Payment by Firm-to-Partner, 194T, Payment by Firm-to-Partner, Provision TDS under Section 194T Changes in Budget 2024, Budget 2024, Partnership firms, payments made by partnership firms ... Read More Raj...
Ans: A firm doing eligible business under section 44AD though not maintaining books is fully covered under the provisions of TDS like section 194A, 194C, etc. and is liable for deducting tax at the time of credit to the account of the payee (liability to pay arises) or payment thereof ...
commission, rent, 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...
The rate of deduction is based on the status of the entity that receives the payment or provides the service. Statuses include Individual, Hindu Undivided Family (HUF), Company, Firm, Association of Persons (AOP), Body of Individuals (BOI), and Local authority....