Section Nature of Payment Threshold Limit (Rs.) Individual / HUF TDS Rates (%) Others TDS Rate (%) 192 Salaries Rs. 2,50,000 Slab Rates Slab Rates 192A Premature EPF withdrawal* Rs. 50,000 10% 10% 193 –TDS on interest on securities*** Rs. 10,000 10% 10% 194 Payment of div...
Furthermore, Section 244A has been amended to provide that in the event of a refund arising out of the rectification, the interest on the refund shall be paid from the date of the application to the date on which the refund is granted. This amendment has been introduced to pr...
The interest income of the user is taxable under section 194A of the Income Tax Act (ITA), 1961. Banks deduct tax on fixed deposits if the interest earned on the same exceeds INR 40,000 in a year. The TDS rate will apply once the earnings go past the threshold limit of INR 40,000...
Even if your piece of real estate is not let out, it might be considered earning rental income and you will need to pay tax on it. If you have taken a home loan, then claiming Interest on Loan also comes under this category. Income from Capital Gains: When you sell Stocks, Bond, ...
An NRI is allowed to claim standard deduction of 30%, deduct property taxes and take benefit of a interest deduction if there is a home loan. The NRI is also allowed deduction for principal repayment under section 80C. Stamp duty and registration charges paid on purchase of a property can ...
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threshold limit of Rs 50,000 will apply on each tenant individually. “If both the tenants are paying rent for their respective share (of the flat), the tax shall not be deducted if their respective share of (total rent) payment does not cross t...