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TDS ON RENT PAYMENTS
Govt scraps TDS on GIFT City aircraft lease rentalsAirlines are now exempt from deducting tax at source on lease rentals paid to eligible aircraft leasing companies in GIFT City. This move a...- Filing ITR? Here's what AIS and Form 26AS tell the income tax department about youAs taxpayers gear up for ITR filing in AY 2026-27, understanding the consolidated Form 168 (formerly AIS and Form 26AS) is crucial. This un...
- ITR filing deadline 2026: From July 31 ITR filing to TDS due dates; key forms you can't afford to missJuly marks crucial income tax deadlines for Indian taxpayers. The major deadline is July 31 for salaried individuals and pensioners to file...
- Rs 15 lakh, Rs 20 lakh or Rs 25 lakh CTC? Check your exact TDS under new vs old tax regime for Tax Year 2026-27Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax liability based on declared incom...
- Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...
- ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
- NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDSNRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE in...
- ITR Filing: Tenants paying over Rs 50,000 rent must check this TDS requirement
- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...
- GIFT City investment: Here’s how resident Indians can invest in global stocks, ETFs, and mutual fundsIndian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financ...
- Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demandsWith the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are ...
- 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 ...
- 12 key income tax form changes every taxpayer should know: From Form 16 to Form 168A new Income-tax Act arrives on April 1, 2026. It brings fresh income tax forms and replaces many old ones. Taxpayers will use these new fo...
- New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
- 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...
- 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...
- 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. ...
- Claiming HRA tax exemption? This is what your rent agreement should includeRent agreement for HRA tax exemption: Employers must collect supporting documents, such as rent receipts, in order to provide the HRA deduc...
- When is TDS to be deducted from house rent payments to the landlord?If you are paying a house rent of more than Rs 50,000 per month, then make sure to deduct TDS from such rent and deposit it in the governme...
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