TDS on buying property from a NRI is a complex subject. The buyer and seller is totally in dark about the TDS to be deducted in the case of buying/Selling an immovable property from NRI. The reason is that the section 194IA talks about TDS on sale of immovable property and sale of property by… (0 comment)

TDS on sale of immovable property as per section 194 IA is implemented As per Finance Bill of 2013.The section is exempted for transactions below 5000000.00 ( Fifty lakhs) with effect from June 1, 2013, Tax @ 1% should be deducted by the purchaser of the property at the time of making payment of sale consideration. In… (0 comment)

As per section 194IA, TDS  on sale of property was introduced in the year 2013-14 budget with view of eliminating evasion of tax. The main purpose of introduction of this section is to improve under valued and under reporting property sales across the country.So as to increase the tax revenue  through capital gains by the… (0 comment)

Section 194I  TDS on rent,rate 10%
TDS is a bit difficult subject for a beginner in the taxation field, There are many sections of TDS under Income tax rule.TAXIN has simple tutorials on all TDS sections that every Beginner can understand. What is TDS on Rent? Examples will help you understand things easily, so Let’s Begin with an example. X company runs… (0 comment)

Section 192 TDS on Salary rate and computation
When a person/Employer is paying Income Under head ‘salary‘,he is responsible for deducting TDS on an average rate of income tax based on the prevailing rate during the Financial Year by considering  the estimated Income of assessee. All Employers making such payments like Individual,HUF,Partnership Firms,Companies,Co-operative societies, trust, artificial judicial persons are liable to deduct TDS . Section 192  TDS… (0 comment)

Tax Deducted at Source should be deposited to the government on or before the time limit declared by the Income tax department. Late payment cost you interest and penalty. Usually TDS Collected shall be be deposited on or before 7th of subsequent month. TDS Payment Due date chart In this post let’s discuss how to… (0 comment)

The person who is liable to deduct TDS shall be deposited to the government on time. Timely payment ensure the statutory complaints and avoid penalties and fine .Here is the TDS payment chart for both Govt assesses and non Govt: Assesses. Important Points to be Noted for TDS Payment All sum deducted without treasury challan… (0 comment)

As you know Late filing of TDS return attract Late filing fee, Interest and penalty. So let’s do it in time so as to avoid such extra burdens. Here is the list of due date of filing TDS return. Govt has brought uniformity in filing TDS return for all types of Detectors from FY 2016-17.… (0 comment)