TDS Rate on Commission and Brokerage – TDS on Commission / TDS on Brokerage under Section 194H of Income Tax Act Section Section 194H of Income tax Act, 1961 Particulars TDS Rate on Commission and Brokerage Type of business Residents, Individuals, Hindu Undivided Family Commission and Brokerage For the purpose of Section 194H, Commission or … Read more
FAQs on Annual Information Statement (AIS) The Annual Information Statement (hereinafter referred to as the AIS) is a comprehensive statement containing information of a taxpayer with regards to interest, trades in stock, dividends, mutual fund investments, details regarding international remittances, etc. Basically it contains details regarding all financial transactions, income statement, income tax proceedings (if … Read more
Introduction – TDS on Hotel accommodation – Section 194I of Income Tax Act In cases where hotel accommodation is taken on a regular basis. For such situations, the Income Tax Act provides for the deduction of TDS on payments made for Hotel accommodation under Section 194I of the Income Tax Act, 1961 (hereinafter referred to … Read more
Section 194N of Income Tax Act S. No Content 1 What is section 194N ? 2 Parties Involved under section 194N ? 3 Rate of TDS under Section 194N ? 4 Threshold limit under Section 194N ? 5 Timing for deduction under 194N ? 6 Exemption from TDS under section 194N ? What is Section … Read more
Section 194R of Income Tax Act 1961 – TDS on Benefit or Perquisite arising from Business or Profession Serial No. Contents 1. Introduction 2. Who can deduct TDS under Section 194R? 3. Who are liable for deduction under Section 194R? 4. When is tax to be deducted under Section 194R? 5. Rate of deduction under … Read more
TDS course Online, deals with the provisions, relating to deduction of tax at source from payment to various resident and non – resident u/s 193, 194, 195 and other procedural provisions relating to filing, deposit of tax, issuance of CA certificate. TDS from Interest on securities – Section 193 Which Payor are liable to deduct … Read more
The Direct Tax Committee of the Institute of Chartered Accountants of India has issued an Exposure Draft of Revised Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 . Under Section 44AB Income Tax Act, a taxpayer is required to have a tax audit , if the gross turnover or receipts … Read more
How to claim TDS Refund – Serial No. Contents 1. What is TDS Refund? 2. How to claim TDS Refund? 3. How to claim TDS Refund Online? 4 How to claim TDS Refund for Previous Years? What is TDS Refund? Under various, provisions of the Income Tax Act, 1961 {hereinafter referred to as the “Act”}, … Read more
Penalty for late filing of TDS Returns Serial No. Contents 1. Dates for Filing TDS Returns 2. Legal provisions for Penalty for late filing of TDS Returns Section 234E- Late Filing Fees Section 271H – Penalty Concession 3. Relief from payment of Penalty for late filing of TDS Returns Dates for filing TDS Returns Before … Read more