Under Section 194-IB of the Income Tax Act, tenants paying over ₹50,000 monthly rent must deduct 2% TDS on annual rent from ...
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 ...
ITAT ruled that the amendment requiring aggregation of consideration under Section 194-IA applies only from October 2024. For earlier years, TDS applicability must be determined individually per buyer ...
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New income tax rule: If you are paying rent of more than Rs 50,000, then understand the complete A to Z of tax
If your monthly rent is ₹50,000, paying the rent alone will no longer be enough; you'll also have to fulfill a new ...
As we draw closer to the last quarter of FY 2023-24, it is important to start educating ourselves on the nitty-gritty details of taxation in India. One of the most important topics in taxation is TDS ...
With the Finance Bill approving a number of noteworthy proposals from the Union Budget 2024, certain changes are all set to take effect starting from Tuesday, October 1 including the implementation of ...
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