CONTENTS OF TOPIC S.No. Particulars 1 Introduction 2 Requirements associated with Form 26QB 3 Steps to fill Form 26QB Steps to Download Form 16 4 Illustration on successful filing of Form 26QB 5 FAQs 6 Conclusion 7 Expert Insights Introduction to 26QB Under Section 194-IA of the Income Tax Act, 1961, when an individual […]
Tag: TDS CERTIFICATES
Cash Withdrawal of above 1 crore? Deduct TDS under section 194N from Sep 1, 2019.
The objective of introducing Section 194N by government in the Union Budget 2019 of July 2019 is to discourage cash transactions in the country and promote the digital transaction in India or promote less cash economy. ‘Section 194N –TDS on cash withdrawals over and above Rs 1 crore’ has been introduced through the Finance Bill, 2019. […]
TDS ON PROPERTY UNDER SECTION 194-IA OF INCOME TAX ACT
APPLICABILITY OF TDS Any person who is purchasing an immovable property (other than rural agricultural land) worth Rs. 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor. This section covers residential property, commercial property, as well as land. However, transactions pertaining […]
TDS Return
TDS Return Filing in India TDS (Tax Deducted at Source) is a form of indirect tax collected by the revenue authorities of the Indian government as per the Income Tax Act 1961. This tax is usually collected at the time of generation of income or rather at the time of making payment. Tax is deducted […]