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The Most Comprehensive Guide On TDS In India
Guides, TDS, The Most Comprehensive Guide on TDS in India

The Most Comprehensive Guide on TDS in India

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December 26, 2018

- Guides, TDS, The Most Comprehensive Guide on TDS in India

Containing All the Updated TDS Sections that You Should Know for current FY 2018-19(AY 2019-20)”When it comes to tax deduction at source, there are lot of confusions. The first question being, what exactly is TDS? And when we understand that, the next question which pops-up, how many times do I have to pay tax? Why TDS is deducted from my salary? How the amount of TDS deduction on salary is calculated? What is the need of TDS and the list is, literally endless!So, to clear all your queries and provideSEE DETAILS

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Section-195 of Income Tax Act
Guides, Section 195, TDS

What is Section 195 under Income Tax Act?

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December 25, 2018

- Guides, Section 195, TDS

In this part of our TDS series, we will discuss the concept of Section 195 of the tax deduction, which is-Section 195: TDS on Other Payments Made to NR (Individual) or Foreign CompanyWho is required to deduct TDS u/s 195?Any person (resident or non-resident) who pays any sum other than salary to a non-resident is required to deduct tax under this section.What is the rate & time of tax deduction u/s 195?        The rate of tax deduction u/s 195 shall be either of the below rates whichever is beneficialSEE DETAILS

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What is Section 194 IA under Income Tax Act?
Guides, Section 194IA, TDS

What is Section 194IA under Income Tax Act?

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December 24, 2018

- Guides, Section 194IA, TDS

In this part of our TDS series, we’ll touch Section 194IA tax deduction provisions which are as follows:Section 194IA: TDS on Payment on Transfer of Immovable Property (Not Being an Agricultural Land)Who has the need to deduct TDS u/s 194IA?Any person (Buyer or Transferee) who enters into an agreement with a resident for transfer of an immovable property (land or building or both but not an agricultural land) is required to deduct TDS under this section.What is the rate & time of tax deduction u/s 194IA?The rate of the taxSEE DETAILS

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What Is Section 194I, 194IB & 194IC Under Income Tax Act
Guides, Section 194 I, Section 194 IB & Section 194 IC, TDS

What is Section 194I, 194IB & 194IC under Income Tax Act?

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December 21, 2018

- Guides, Section 194 I, Section 194 IB & Section 194 IC, TDS

This part of our TDS series majorly focuses on the tax deduction provisions which are relating to payment of rent. The section that will be discussed are Section 194I, 194IB & 194IC that are as follows- TDS on Rent: Section 194I TDS on Payment of Rent by Certain Individuals or HUF: Section 194IB TDS on Payment Made Under Specified Agreement: Section 194ICSection 194I: TDS on Rent Whenever we hear the word ‘rent’, the first thing which comes to mind is the payment which knocks on the door at the end (orSEE DETAILS

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What Is Section 194E & Section 194EE Under Income Tax Act?
Guides, Section 194E & Section 194EE, TDS

What is Section 194E & Section 194EE under Income Tax Act?

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December 20, 2018

- Guides, Section 194E & Section 194EE, TDS

In this part of our TDS series, we’ll touch 2 other important tax deduction provisions that are Section 194E & Section 194EE, These are:TDS on Payments to Non-Resident Sportsmen or Sports Association: Section 194ETDS on Payment for Deposit Under NSS: Section 194EESection 194E: TDS on Payments to Non-Resident Sportsmen or Sports AssociationIndia’s love for cricket can’t be defined by a single ‘word’. Whenever there is any cricket match whether involving the Indian team or IPL, the madness is clearly visible.But have you ever wondered, how is the income of many foreignSEE DETAILS

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What is SectionWhat is Section 194J under Income Tax Act? 194J?
Guides, Section 194J, TDS

What is Section 194J under Income Tax Act?

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December 19, 2018

- Guides, Section 194J, TDS

In this part, we’ll take up Section 194J, the most important provision of TDS for Professional & Technical Services that is as follows –Section 194J: TDS on Fees for Professional or Technical ServicesYou must have always wondered that how much money does a Doctor or a CA or a Lawyer earns? Must be in double-figure of lacs (after all they are counted as one of the most reputed professions).Today we’ll tell how provisions of tax deduction (TDS) becomes applicable to them and this brings us to the Section 194J.As thisSEE DETAILS

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What is Section 194G?
Guides, Section 194G & Section 194H, TDS

What is Section 194G & Section 194H under Income Tax Act?

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December 18, 2018

- Guides, Section 194G & Section 194H, TDS

In this part of our TDS series, we’ll touch Section 194G & Section 194H – 2 important tax deduction provisions which are as follows: TDS on Commission on Sale of Lottery Tickets: Section 194GTDS on Commission or Brokerage: Section 194HSection 194G: TDS on Commission on Sale of Lottery TicketsWe bet, at-least once in your life you would’ve thought of buying a lottery ticket and waiting for a chance to win. Lottery tickets are an attractive way among many people throughout India to try their luck.But you will be surprised toSEE DETAILS

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what is section 194D and Section 194DA?
Guides, Section 194D & Section 194DA, TDS

What is Section 194D & Section 194DA under Income Tax Act?

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December 17, 2018

- Guides, Section 194D & Section 194DA, TDS

In this part of our TDS series, we’ll further simplify 2 more important tax deduction provisions which are as follows: TDS on Insurance Commission: Section 194DTDS on Payment of Life Insurance Policy: Section 194DASection 194D: TDS on Insurance CommissionThis provision of tax deduction mostly hits people who work as insurance agents for companies like LIC, HDFC Insurance, ICICI Insurance etc.Who is required to deduct TDS u/s 194D?Any person who pays to resident an income in the form of remuneration or reward (as commission or otherwise) for generating insurance business.What isSEE DETAILS

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What is Section 194C under Income tax act?
Guides, Section194C, TDS

What is Section 194C under Income Tax Act?

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December 16, 2018

- Guides, Section194C, TDS

In this part of our TDS series, we’ll simplify Section 194C that is:Section 194C: TDS on Payment to ContractorsThis section of TDS is very important as it hits millions of people in India. Hence, a proper and detailed understanding of the section is here-Who is required to deduct TDS u/s 194C?As per this section, any specified person who pays money to the resident contractor (or subcontractor) for carrying out any work (including the supply of labor) is required to deduct tax on such payment. The above condition also requires theSEE DETAILS

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What Is Section 194B & 194BB
Guides, Section 194B & Section 194BB, TDS

What is Section 194B & 194BB under Income Tax Act?

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December 15, 2018

- Guides, Section 194B & Section 194BB, TDS

In this part of our TDS series, we will discuss the concept of 2 important sections of the tax deduction, which are:TDS on Winnings from Lottery or Crossword Puzzles: Section 194B: TDS on Winnings from Race Horses: Section 194BB: Section 194B: TDS on Winnings from Lottery or Crossword PuzzlesHave you ever wondered about people who win money on game shows like Kaun Banega Crorepati, Bigg Boss, Indian Idol etc pay tax or not? Do they take the whole money home?The answer is NO. This is where the concept of TDS u/s 194BSEE DETAILS

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