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SECTION 194IB
Paying Rs 55,000 rent on time could not save salaried taxpayer from Rs 1 lakh penalty for missing TDS, know whyAn individual faced a Rs 1 lakh penalty for not deducting TDS on monthly house rent of Rs 55,000. According to Section 194-IB, TDS at 2% mu...29 Jul, 2025, 10.48 AM IST- How to download Form 26AS for ITR filing FY 2024-25 (AY 2025-26)?The I-Tax Department has extended the last date for filing ITR from July 31, 2025, to September 15, 2025, for FY 2024-25. Verifying Form 26...18 Jul, 2025, 09.00 AM IST
- Paying rent above Rs 50,000? You can be classified as assessee in default by income tax dept if you fail to deduct TDSTDS on rent: According to a Income Tax Department brochure, Form 16C is a TDS certificate issued by a tenant to a landlord for rent payment...12 Apr, 2025, 11.18 AM IST
- Revised TDS rates from October 1: Here are the new tax deducted at source rates on various transactionsRevised TDS rates from October 1: The Finance Bill has ratified several important proposals from the Union Budget 2024, including revised T...04 Oct, 2024, 01.38 PM IST
- Revised TDS rates, STT, Aadhaar card rules: 6 income tax Budget 2024 changes applicable from October 1, 2024Budget 2024 tax changes: The 2024 Union Budget introduced some modifications regarding the Aadhaar card, STT, TDS rate, and the Direct Tax ...27 Sep, 2024, 01.22 PM IST
- Credit and debit card rules, income tax rules, post office schemes rules effective from October 1, 2024Important money changes in October: The money changes include the most recent savings account fees from PNB, ICICI Bank charges for debit c...27 Sep, 2024, 01.16 PM IST
- TDS rates reduced in Budget 2024: New tax deducted at source applicable on rent payments, insurance, purchase of MF units, sale of propertyTDS rates changed in Budget 2024: On July 23, 2024, Finance Minister Nirmala Sitharaman presented Budget 2024, which included several propo...06 Aug, 2024, 11.07 AM IST
- Budget 2024: Rate of TDS on house rent payment of more than Rs 50,000 per month cut to 2% from 5%Union Budget 2024: Now you will have to pay a lower percentage of tax deducted at source (TDS) on house rent payments exceeding Rs 50,000. ...23 Jul, 2024, 02.56 PM IST
- Long weekend cancelled for income tax department; it will work on March 29 to 31st to facilitate taxpayersIncome tax department: March 29, 2024 is Good Friday, a holiday and March 30 is a Saturday. Further March 31 is a sunday. In light of the f...21 Mar, 2024, 12.46 PM IST
- What is the TDS rate for salary, dividend, interest, house rent, cash withdrawal and other transactions for FY 2024-25Tax Deducted At Source (TDS): TDS is levied on many types of incomes like salary, house rent, virtual digital assets (VDA), etc. What is im...14 Mar, 2024, 10.12 AM IST
- Income tax calendar 2024: Important tax-related dates you need to knowWith the start of the new year, it is important to remember important deadlines for the year. Knowing the last dates well ahead of time can...05 Jan, 2024, 11.26 AM IST
- Letting out your house to an NRI? Make sure you've got this coveredHaving a tenant is not a complicated process, but people often get stuck when they think about leaving their house to an NRI. Here we tell ...28 Sep, 2022, 04.55 PM IST
- Today is last date of filing belated, revised ITR for FY 2019-20If you are filing a belated ITR, then do keep in mind that you will be required to pay a penalty of Rs 10,000. The government had earlier e...31 May, 2021, 04.34 PM IST
- TDS, TCS rates on interest, dividend, other non-salary payments effective April 1, 2021Effective from April 1, 2021, the TDS and TCS rates on these non-salary payments will be back to their original (higher) levels. Given belo...20 Apr, 2021, 12.02 PM IST
- New TDS, TCS rates from May 14 on fixed deposits, dividends and other non-salaried paymentsThe government has lowered the TDS and TCS rates by 25% on non-salaried payments effective from May 14, 2020, till March 31, 2021. The deci...14 Dec, 2020, 05.29 PM IST
- Budget 2019: Paying Rs 50 lakh plus to contractor, professional? You will have to deduct TDS nowIf the individual or HUF is carrying on business or profession which is not subjected to an audit, there is no obligation to deduct tax at ...05 Jul, 2019, 06.13 PM IST
- Paying Rs 50,000 rent per month? Better cut 5% TDSSection 194-IB introduced by the Finance Act, 2017 has widened the scope of withholding tax by making individuals also responsible for TDS ...17 Jun, 2017, 12.59 PM IST
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