Rent (Under section 194I) Professional service (Under section 194J) Income from Units (Under section 194K) Payment of compensation on acquisition of certain immovable property (Under section 194LA)Non-residentsPayments to Non-resident sportsmen or sports association (Under section 194E) Other sums...
TDS is deducted from the payments made by the individuals as per Income Tax Act. Various types & rates of TDS deduction are present. Focus on pay as you earn. TDS is a direct tax which is collected from the people at the time of payment like salary, rent, commission, etc. The TDS ...
House Rent Allowance (HRA) Conveyance Daily expenses in the course of employment Relocation allowance Helper allowance Children education allowance Other special allowances [Section 10(14)] Standard deduction Professional tax Interest on housing loan (Section 24) ...
Example 2: TDS on Rent Suppose TDS of ₹10,000 was deducted on 15 June, but the TDS amount was deposited on 30 October. The due date of TDS payment is 7 July. The interest will be calculated as follows: Days of delay = 115 days (from 7th July to 30th October) TDS amount = ...
On the other hand, TDS deducted in March can be deposited until April 30th. Furthermore, the due period for TDS deducted on rent and property purchases is 30 days from the end of the month in which the TDS or Tax deducted at source was deducted. ...
Key Features: Consider what matters most—rent collection, maintenance tracking, accounting, or tenant communication. Mobile Accessibility: A mobile-friendly platform lets you manage your properties on the go. The Top 10 Property Management Tools for 2025 Here’s the expanded rundown of the best p...
194LACompensation on acquiring immovable propertyResidentRs. 2,50,000 per FY10% TDS Exemptions TDS is not deducted in the following situations: If the amount payment is made to Reserved Bank of India, Government or any such body. Mutual Fund under Section 10(23D) ...
So, in England and Wales if a deposit is taken on an assured shorthold tenancy with an annual rent of up to £100,000 it must be protected in a tenancy deposit scheme. Deposits taken on or after 6 April 2007 for assured shorthold tenancies with an annual rent threshold of up to £...
Section 194F: Payment due to repurchase of a unit by Unit Trust of India (UTI) or a Mutual Fund 20% 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) Lan...
Learn how to set up withholding tax component groups, such as Rent and Contractor, for the Tax Deducted at Source (TDS) tax type.