Section 206AB: This section is applicable in the case where the person fails to file two years return. Under the respective section the person who is responsible for deducting/collecting the tax, as the case may be, is required to apply the tax rate at the higher of th...
In these cases, the tax must be deducted at the higher rate between both sections. In other words, TDS must be deducted at the higher of the rate under section 206AA and the rate under section 206AB.The following illustration summarizes the tax rates under sections 206AA and/...
Section 206AB of the Income Tax Act er for nylig blevet introduceret vide the Finance Act, 2021. I henhold til afsnit 206AB i Act on any sum or income or the amount paid, or credited, by a person (herein referred to as dragee) to a "specified person", der ikke...
TDS Rate Chart for FY 2024-25 - TDS is applicable on various payments like contractor payments, salary, commission etc. Check out TDS rate chart for FY 2024-25 & AY 2025-26.
Comments Be the first to leave a comment. Your are not logged in . Please login to post comments. Click here to Login / Register Trending Downloads Excel to Tally Import Utility FREE 100% | PRIME, 9, 7 ver. On : 21 April 2025 ...
Set up TDS under section 194 Q 显示另外 9 个 Section 194Q of the Income Tax Act was recently introduced vide the Finance Act, 2021. Section 194Q states, “It is provided for TDS by the person responsible for paying any sum to any resident for purchase of goods. The rate of TDS is ...
(Under section 194BB) Contractors and sub-contractors (Under section 194C) Insurance commission (Under section 194D) Income from deposit under national saving scheme (Under section 194EE) Income from mutual fund or UTI (Under section 194F) Commission, Remuneration, Prize etc., on sale or ...
All the requirements that are to have adhered to Form 26QB have been mentioned under Section 194-IA. They are as follows: As per Section 194-IA, the buyer ought to deduct the Tax Deducted at Source at the rate of 1% of the entire value of sales that is determined at the time of ...
A new Rule 134 is inserted after 133 which expresses regarding the Application under sub-section (20) of section 155 about credit of tax deduction at source. The taxpayer must make the application under sub-section (20) of section 155 will be in Form No. 71. e-Form No. 71 Will Be Is...
Provided that where in respect of any such sum, tax has been deducted in any subsequent year or, has been deducted in the previous year but paid in any subsequent year after the expiry of the time prescribed under sub-section (1) of section 200, such sum shall be allowed as a ...