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SECTION 194 I
'Sanchita Ugale and Sushant Singh Rajput were under pressure': TV actress' brother claims link between the actors' deaths on same date six years apartTelevision actor Sanchita Ugale has reportedly died by suicide in Palghar, Maharashtra. Her brother drew parallels between her death and th...- India needs to remove tax friction for more FDIIndia is looking to boost foreign investment by reforming its tax system. Recent proposals aim to simplify taxes on foreign holdings. The c...
- Can your bank cut TDS on interest income? Income Tax Department clarifies Income-tax Act, 1925 ruleThe Income Tax Department has clarified eligible banks for TDS on interest under the new Income-tax Act, 2025, effective April 1, 2026. The...
- Presumptive Rules: Tax heat on content creators, consultantsThe Income-tax department is scrutinizing social media content creators, script writers, and consultants who have filed returns under Secti...
- New income tax slabs, zero tax on income up to Rs 12 lakh, 9 other income tax laws effective from April 1, 2025New Financial Year 2025, new tax laws: Today marks the beginning of the new financial year 2025-26. With the new year, a lot of changes are...
- Increase in TDS threshold for rent of house property under section 194-IBudget 2025: Increase in TDS threshold from Rs 2.4 lakh to Rs 6 lakh under section 194-I. Do note this is relevant for persons other than i...
- 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. ...
- 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...
- Govt introduces two new sections in I-T Act to tax user income from online gamingExperts believe that the move will help the online gaming industry to build a distinct identity for itself without getting clubbed with bet...
- Budget 2023: Income tax changes that professionals, small businesses wantThe government has amended various provisions of the Income-tax Act to make it business-friendly for smal businesses and professionals. How...
- 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 ...
- Clarificatory circular on new TDS provisions for banks soon, says CBDT chairmanWhile the CBDT had issued a set of guidelines in June with regard to the applicability of the newly introduced section 194R in the Income T...
- CBDT: Buyer to Deduct Tax in P2P Virtual Asset Exchange"In a peer-to-peer (ie buyer to the seller without going through an Exchange) transaction, the buyer (ie person paying the consideration) i...
- CBDT notifies TDS disclosure requirements for cryptos, virtual digital assetsFrom July 1, tax deducted at source (TDS) of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyon...
- TDS levy on cash withdrawal of over Rs 20 lakh from bank account if you haven't done thisThe government has amended the laws on withdrawing cash exceeding Rs 20 lakh from his/her bank account in a financial year. The law was ame...
- 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...
- 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...
- From Sept 1, individuals must deduct TDS on payments to contractors, professionals: Know all about itThe rate at which the tax has to be deducted is 5% unless the payee has obtained a lower withholding tax certificate from the department.
- 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.
- Budget 2017: Paying rent over Rs 50,000 a month? Get ready to deduct 5% TDSThe existing provisions of section 194-I of the Act provide for TDS at the time of credit or payment of rent to the payee beyond a threshol...
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