Section 194LA: Payment in respect of compensation on acquisition of certain immovable property. 10% Section 194LBA(1): Certain income distributed by a business trust to its unitholder 10% Section 194LBB: Certain income paid in respect of units of an investment fund to a unitholder. 10% Sect...
Key Attributes of Form 26QB Under TDS Section 194-IA In the Income Tax Act, 1961 few key rules have been framed that are related to the purchase and sale of immovable property. In the aforesaid transactions that come within the domain of Section 194-IA, the buyer (who is also called th...
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 (Under section 195) Income in respect of units of non-residents (Under section 196A) Income from foreign...
10. TDS amount for NRI if they own a property? Yes, according to section 195. You can file an application with the officer in charge of non-resident taxation if you have any doubts about the TDS deducted amount. Alternatively, if the recipient believes the TDS is excessive, he may file ...
The purpose of this form filing TDS Returns with regard to a deduction on income from the sale of immovable property in India. #4. Form 27Q The purpose of filing of this type of return is to furnish details of the transactions in respect to the foreign payments made. ...
Penalty in case of delay in issuing of TDS certificates 1) TDS Interest Which section TDS interest is to be paid? TDS Interest is to be paid under section 201of Income Tax Act, 1961 When it is to be paid? When there is failure to deduct or pay TDS. So there are TWO categories of...
ii. The section code is denoted as '2AA' in the .txt file. B. New Section code 194IA (Payment on transfer of certain immovable property other than agricultural land. i.e. TDS on sale of property) has been added under list of sect...
Under Section 199 of Income Tax Law 1961, when tax has been deducted at source from any payment of income receivable, credit will be given to theDeducteewhile calculating the net tax payable by him and the TDS will be treated as a payment of tax on his behalf to the Central Government ...
21 Payment made on account of transfer of immovable property other than agriculture land. 194IA 50,00,000.00 1% 1% 20% 22 Rent payable by individual not covered u/s. 194I for land, building, furniture and fittings 194IB 50,000.00 Per Month 5% 5% 20% 23 Payment of Professional Fees othe...
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 (Under section 195) Income in respect of units of non-residents (Under section 196A) Income from foreign...