Employee Provident Fund (EPF) was earlier not subject to tax and was tax-free in the hands of the employee. When a contribution was made, the…
View More TDS Deduction on EPF Interest (New Rule)Category: Traces
Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of…
View More Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business TrustTDS on Hotel Accommodation – Section 194I of the Income Tax Act
The provisions contained in Section 194-I of the Income Tax Act, 1961 define how one should deduct TDS on rent. Section 194I imposes an obligation…
View More TDS on Hotel Accommodation – Section 194I of the Income Tax ActCoexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021
Section 194Q – TDS on Purchase of Goods limits the scope and applicability of the Section 206C(1H) – TCS on Sale of Goods as the…
View More Coexistence of TDS 194Q and TCS 206C(1H) after Budget of 2021Computation of Income from House Property- Deduction of Interest u/s 24(b)
Income like rent on house property, annual value of property “deemed” to be let out are considered as income from House Property and is taxable…
View More Computation of Income from House Property- Deduction of Interest u/s 24(b)Significance of the ‘REMARKS’ in TDS Returns
For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this…
View More Significance of the ‘REMARKS’ in TDS ReturnsCBDT Issues Fresh Policies of New Section 194R to Reduce Problems
The Central Board of Direct Taxes (CBDT) issued a circular No. 18 of 2022 dated 13th September 2022, to eliminate issues in Section 194R of…
View More CBDT Issues Fresh Policies of New Section 194R to Reduce ProblemsTDS Deduction on EPF Interest (New Rule)
Employee Provident Fund (EPF) was earlier not subject to tax and was tax-free in the hands of the employee. When a contribution was made, the…
View More TDS Deduction on EPF Interest (New Rule)Claim of TDS Credit deducted by the Employer but not paid to the Government
What is a tax credit? If tax has been deducted at the source (TDS) and the same deposited with the government, it would be treated…
View More Claim of TDS Credit deducted by the Employer but not paid to the GovernmentSection 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of…
View More Section 194LC: TDS on Income by way of Interest from an Indian Company or a Business Trust