Effective from 1st June 2017, individuals & HUF not covered under tax audit have been subjected to deduct tax at source for rent payments if it is Rs. 50,000 or more per month. Salient features: Applicable only to individuals & HUF who are not under tax audit (under section 44AB) This section is applicable from 1st…
Form 16C is the newly introduced TDS certificate to be issued by rent payer (deductor) i.e. individuals & HUF’s who are not under Tax audit (under section 44AB) and does not have a Tax Account No. (TAN), paying a rent of Rs. 50,000/- or above per month, to the rent receiver (deductee) as per section…
From 1st June, 2017 individuals & HUF’s who are not under Tax Audit (under section 44AB) and does not have a Tax Account No. (TAN) while paying the rent of Rs. 50,000 or more needs to deduct TDS from the rent as per section 194IB. Form 26QC is the newly introduced online Challan – cum –…
Effective from 1st June 2017, individuals & HUF not covered under tax audit have been subjected to deduct tax at source for rent payments if it is Rs. 50,000 or more per month. Salient features: Applicable only to individuals & HUF who are not under tax audit (under section 44AB) This section is applicable from 1st…