194K Payment of income for units of a mutual fund, for example- dividends Rs. 5,000 10% 10% 194LA Payment made for compensation for acquiring certain immovable property Rs. 2,50,000 10% 10% 194LB Payment of interest on infrastructure bonds to Non-Resident Indians NA 5% 5% 194LBA(1)...
Long term capital gains, profits made on sale after 1 year from date of purchase, on equity shares (like in equity mutual funds) are exempt from tax. There will be no TDS applicable. Short term capital gains, profits on sale within one year of date of purchase, are subject to a TDS ...
Generally, the individual (deductee) receiving thepayrollsalary is subjected to make the income tax payment. And, the other person (deductor) shall deduct the income tax and remit the tax into the Central Government account. Furthermore, TDS or deduction of tax at source is applicable to cert...
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...
The calculation of interest is on PER MONTH basis NOT on number of DAYS basis i.e. PART of month to be considered as FULL month. Note: The Payment of interest should be from the Date on which TDS was deducted, NOT from the date on which TDS Challan is due. Unlock Ad-Free CAclubin...