Web2 Jul 2024 · The tax deduction shall be made at the rate of—. As per provision under this Act, no deduction shall be made where the aggregate of the amounts of rent credited or paid … Web11 Apr 2024 · Sec 196A of the act provides that where any income in respect of the units of the Mutual fund specified u/s 10 (23D) or a company referred to in clause 10 (35) of the Act paid to the non-resident person, then TDS @ 20% shall be deducted at the time of credit of such income to the account of payee or at the time of payment whichever is earlier.
Section 194K—Tax deduction on income from mutual …
Web21 Jan 2024 · Section 194J of Income Tax Act 1961 provides that where any person (not being individual or HUF) who is availing professional services or technical services is liable to deduct TDS while making the payment for such services. It is important to be noted that as per this section 194J the payment for such services must be made to residents. WebSection 194I of the Income Tax Act concerns tax deducted at source (TDS) on rent. The provisions of this particular section define how TDS on rent should be treated. This section is primarily for individuals earning from rent or subletting their property. temperature sensor yamaha grizzly 660
Section 194 R sub-section 2, Income Tax Act , 1961– Who is
Web10 Apr 2024 · The tenant is responsible for deducting TDS on rent at the rate of 10% on the rent paid to the landlord if the rent paid exceeds Rs. 2,40,000 per annum as per the norms of Income Tax Act under section 194 – I. The tenant must also remit the TDS amount to the government. If the landlord is a non-resident, the tenant must deduct TDS at the rate ... Web27 May 2024 · The Finance Act, 1994 inserted the Sec. 194-I, regarding deduction of tax from payment of rent. The Government felt that an item of income which needs to be … Web23 Mar 2024 · Section 194 of Income Tax Act 1961 came into force in 2013 which states that Tax Deducted at Source (TDS) should be done on purchase of property and payment of rent as well. This section has two sub sections- 194 IA and 194 IB. Section 194 IB is applicable to all those who do not fall under Section 44AB and must deduct TDS for the … temperature september uk