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SECTION 194 IA
ITR filing for NRIs: From miscounted days in India to missed NRO interest, these mistakes can trigger tax noticesMiscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.- Pension is salary, family pension is not: Key tax rules pensioners must know before filing ITR for AY 2026-27Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to confuse the two while filing retu...
- May 2026 income tax calendar: Important TDS, TCS deadlines and other due dates explainedTaxpayers, mark your calendars for May 2026! Crucial compliance deadlines loom, including TDS/TCS deposits for April and certificate issuan...
- 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...
- Don’t forget to deduct TDS before buying property even if the seller is NRI as buyer will risk being labelled as tax evaderTDS on house property: The Income Tax Department said to follow Section 194 IA which relates to Tax Deducted at Source (TDS) on buying a ho...
- 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...
- 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...
- 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...
- Budget 2024: Now you can’t escape TDS on sale of house property of over Rs 50 lakh by splitting the sale valueUnion Budget 2024: Now the aggregate value of a house property is to be considered for determining whether TDS is to be deducted on purchas...
- 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...
- 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...
- What are TDS rules on buying a house? How to deduct, deposit tax and download Form 16BWhen an individual buys a house, then apart from other formalites such as registering the sale deed, making payments etc., they are also re...
- TDS on property sale to be levied on higher of stamp duty value or sale amount: Budget 2022As per income tax laws, an individual is required to deduct tax if the sale value of an immovable property exceeds Rs 50 lakh. The buyer of...
- Govt proposes to tweak TDS norms on sale of immovable propertyAs per the Finance Bill, 2022, presented in Parliament along with the other Budget documents, the government proposes to amend Section 194-...
- 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...
- 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...
- End step-mother demeanor towards NBFCs in Budget 2017Following are the areas, which require the attention of the Government to bring parity between the NBFCs and the Banks.
- TDS shortfall due to an error is no reason to disallow it: HCThe division bench that made the ruling comprised Justice Girish Chandra Gupta and Justice Mrinal Kanti Sinha.
- 'Sale contracts not subject to TDS'In a landmark ruling recently, the Bombay High Court has said that sale contracts will not be subject to tax deducted at source (TDS), ther...
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