From FY 2025–26, partnership firms must deduct 10% TDS on specified payments to partners once the ₹20,000 threshold is crossed, with strict timelines for deduction and ...

The Income Tax Department has released a new brochure explaining Section 194-IB which relates to obligations of a tenant to pay Tax Deducted at Source (TDS) by deducting it from house rent. This ...

A salaried professional, Abhishek, received a shock when he was hit with an income tax notice demanding a penalty of Rs 1,00,000 for failing to deduct Tax Deducted at Source (TDS) on his monthly rent ...

In order to widen the scope of TDS, the government has proposed to insert a new section of 194-IB in the I-T Act to provide that an individual or a HUF (other than those covered under 44AB of the Act) ...

Under Section 194 I of the Income Tax Act, if a businessman is paying ₹2,40,000 or more rent per annum then it will pay the monthly rental deducting TDS. With an aim to negate chance of tax evasion, ...

SC dismissed the Revenue’s challenge and affirmed that Common Area Maintenance charges are service-related payments, not rent, and attract TDS under Section ...

As per the Finance Bill, 2022, presented in Parliament along with the other Budget documents, the government proposes to amend Section 194-IA of the Income Tax Act, in order to remove inconsistency ...

Providing clarification on the 1 per cent tax deducted at source (TDS) on e-commerce transactions, the CBDT on Tuesday said that that the payment gateway will not be required to deduct the tax under ...

Budget 2020 brought about a slew of changes including the much talked-about insertion of section 194-O to the Income Tax Act, 1961 (IT Act). Tax Deducted at Source commonly known as TDS is a system of ...