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TDS OBLIGATIONS FOR TENANTS
Paying rent above Rs 50,000? Failure to deduct TDS can make you an assessee in default; know what to doTenants paying over Rs 50,000 monthly rent must deduct TDS. This applies to individuals and HUFs not requiring tax audits. The TDS rate is ...- Creating a mirage called employee: Another way a management can manipulate profits and mislead investorsJust another line item near depreciation and finance costs, with the real assumptions and calculations buried deep in the notes. That is pr...
- Paying high rent? Don't forget to deduct TDS before March 31, 2026 or you may face penalties and interestTenants paying more than Rs 50,000 in monthly rent must deduct TDS at 2% before March 31, 2026. This compliance is for the financial year e...
- How can NRI’s tackle property challenges in India while living abroad?Being abroad shouldn’t mean losing sleep over property. NRIs are finding ways to stay in control.
- High salary, higher tax risk: How HRA still tilts the old vs new regime decisionMost Indians now prefer the new tax regime for its simplicity and higher in-hand pay. Those sticking to the old regime need careful tax pla...
- 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...
- 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...
- Claimed HRA but skipped TDS? Income Tax department comes knocking with noticesTaxpayers claiming HRA exemptions but failing to deposit TDS on rent are receiving Income Tax Department notices. Under Section 194-I, tena...
- Sitharaman just gave NRIs more reasons to park their cash in IndiaFinance Minister Nirmala Sitharaman proposed raising the tax collected at source (TCS) threshold on remittances under the RBI’s Liberalized...
- The possible complications NRIs may face when buying a home in IndiaAs global uncertainty rises, more NRIs are looking to buy homes in India to secure a safe haven. This process involves navigating complex l...
- Money Matters: An NRI's guide to renting out property in IndiaNRIs renting out properties in India must manage taxes effectively. Rental income exceeding exemption limits requires filing an ITR. Compli...
- Budget 2024 could expand AIS to include 6 more incomes of individualsThe government introduced the Annual Information Statement (AIS) in Budget 2021 to make it easier for individual taxpayers to check their f...
- Paying rent less than Rs 50K but sharing flat with others? You could be liable to deduct TDSIf a tenant is paying an rent of more than Rs 50,000 to his/her Indian resident landlord then TDS must be deducted. However in case a flat ...
- Paying Rent to NRI landlord? Deduct TDS, else pay penaltyAre you paying housing rent to a Non-resident Indian? If yes, then ensure that you are deducting tax before making a rent payment to the NR...
- TDS on rent payment, property sale: Budget hikes penalty on delay in TDS certificate to Rs 500/dayA buyer of immovable property is required to deduct tax at the rate of 1% of the sale value and furnish the challan-cum-statement in Form N...
- 10 reasons why you may get a notice from the income tax departmentYou may anytime come under the taxman's lens. Here are 10 reasons taxpayers can get an income tax notice.
- 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 ...
- Budget 2019: Lenders hope you’ll bank on FDs again as TDS limit raised 4-foldThe Budget proposes to exempt TDS on interest income up to Rs 40,000 against Rs 10,000 earlier on FDs.
- 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 ...
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