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Tax Deducted At Source (TDS) u/s 194J

by Varun Advani | 27 June 2015
WHEN IS TAX DEDUCTIBLE AT SOURCE ON FEES FOR PROFESSINAL OR TECHNICAL SERVICES [SEC.194J] The provisions of section 194J are given below     Who is the payer   Any person (not being an individual /HUF) who pays/Credits fees for professional /technical service/royalty, is responsible for tax deduction. However, an individual /HUF is responsible for tax deduction only if book of account of the payer is subject to audit under section 44ABin immediately preceding year an payment /credit is of professional fees (not personal purposes) or technical fees    ... [More]

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Form 15CA Provisions

by Varun Advani | 27 June 2015
A person making remittance to a non – Resident/foreign Company is required to furnish an undertaking in digital mode in Form No.15CA.The relevant provisions (applicable From October 1,2013) are given below- 1.    Undertaking in Form No.15CA and certificate in Form No.15CB is not required if remittance pertains to 28 items specified in rule 37BB. 2.    If remittance does not exceed Rs.50, 000 (single transaction) and Rs.2, 50,000(in aggregate in financial year), information in form No.15CA (part A) is to be uploaded .in such a case, Form No.15CB is ... [More]

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TDS On Sale of Immovable Property under Section 194IA

by Varun Advani | 27 June 2015
WHEN AND HOW TAX IS DEDUCTIBLE FROM PAYMENT ON TRANSFER OF CERTAIN IMMOVABLE PROPERTY SECTION 194-IA   Section 194-IA is applicable with effect from June 1, 2013.   Who is responsible for tax deduction? Any person (being a transferee) responsible for paying (other than the person referred to in section 194LA) to a resident transfer any sum by way of consideration for transfer of any immovable property (other than agricultural land area in India), is liable to deduct tax at source under section 194-IA.   Time of deduction-Tax shall be deducted at the time of payment or at the tim... [More]

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Tax Deducted at Source on Rent - Section 194I

by Varun Advani | 27 June 2015
WHEN AND HOW TAX IS TO BE DEDUCTIBLE FROM RENT [SEC.194-I] THE PROVISION OF SECTION 194-I ARE GIVEN BELOW            Who is the payer Any person paying rent (not being an individual or a Hindu Undivided family whose family books of account are not required to be audit under section 44B in the immediately preceding financial year) Who is the recipient A resident person Payment covered Rent of land, building, plant, machinery or furniture At what time tax has to be deducted at source At the time payment ... [More]

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Tax Deducted at Source (TDS) on Commission/Brokerage - Section 194H

by Varun Advani | 27 June 2015
WHEN AND FOR WHOM TO DEDUCT TAX SOURCE FROM COMMISSSION OR BROKERAGE [SEC194H]   The provisions of section 194H are given below- Who is the payer Any person paying commission or brokerage (not being an individual or a Hindu undivided family whose books of account are not required to be audited under section 44AB in the immediately preceding financial year) Who is the recipient Any resident person Payment covered Commission or brokerage (not being insurance commission) At what time tax has to be deducted at source At the time of payment or at t... [More]

Everything Income Tax