Who can Deduct TDS under Section 192 ? Any employer who pays salary to an employee(resident or non-resident) is required to deduct TDS every month under section 192. TDS deduction under section…
Category: TDS & TCS
Amendment of section 194A
What is Section 194A? As per section 194A of Income Tax Act, TDS The payer/deductor shall deduct TDS on interest other than interest on securities like Interest on Fixed Deposits, Interest on…
Section 194B – TDS on Lottery, Games, Betting and Game Shows
What is Section 194B? As per section 194B, if you have income from winning a lottery, crossword puzzle, card game, gambling, betting then TDS is deducted under Section 194B if the income…
Section 194D – TDS on Insurance Commission
What is section 194D of Income Tax Act ? As per section 194D of Income Tax Act, A person who is responsible for making a payment to a resident of India for…
Insertion of new section 194DA
What is the section 194DA of Income Tax Act ? As per section 194DA, LIC or any other service provider making any payment in respect of a life insurance policy to a…
Payments to non-resident sportsmen or sports associations
Who is responsible for deduct TDS under section 194E ? Any person who Pays money to a non-resident sportsman (including an athlete) or an entertainer (who is not an Indian citizen); or…
Amendment of Section 194G
What is section 194G of Income Tax Act? As per section 194G of Income Tax Act, who are either Distributors, Purchasers, or Sellers receiving income in the form of Commission, Remuneration, or…
Insertion of new section 194H
What is Section 194H? As per Section 194H of Income Tax Act, TDS deduction on the payment of commission or brokerage. It mandates tax deduction by the person (other than individual/HUF) responsible…
Section 194I- TDS on Rent [ Amended ]
What is Section 194I of Income tax Act ? As per section 194I of Income Tax Act, The person (not being an Individual or HUF) who is responsible for paying of rent…
Insertion of new section 194-IC
What is Section 194IC of Income Tax? The Government of India introduced Section 194IC joint development agreement of real estate under the scope of TDS. Further, the ministry of finance introduced this…
Insertion of new section 194-IA.
What is Section 194IA of the Income Tax Act? As per section 194IA of the Income Tax Act, TDS shall be deducted on consideration on transfer of immovable properties by a resident…
TDS on Dividend Income From Mutual Funds
What is the nature of payment covered under section 194K ? As per section 194K, the payer of mutual fund/ unit trust of India required to deduct TDS if resident shareholder receives…
Section 194LA : TDS on Payments of Compensation on Acquisition of certain Immovable Property
What is the nature of payment covered under section 194LA ? As per section 194LA, TDS provisions applicable on the payment of compensation at the time of acquisition of certain types of…
Insertion of New TDS Section 194M
In which year section 194M is introduced ? In the Union Budget 2019, various changes have been proposed and a new section has been introduced i.e Section 194M which relates to the…
View TDS on Cash Withdrawal u/s 194N FAQs
In which year the section 194N is introduced ? The Union Budget of 2019 introduced Section 194N of the Income Tax Act, imposing a TDS on cash withdrawals beyond Rs. 1 crore….
