TDS on sale of property section 194IA
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… (2 comments)

Section 194I  TDS on rent,rate 10%
A person other than an Individual or HUF paying rent for building,plant & machinery, furniture & fixtures are required to deduct TDS on rent payment.  These deduction would  subject to a marginal limit proposed by government.The Exemption limit is increased to 240000 in the Finance Bill 2019 (Applicable for the Assessment year 2020-2021) from an… (1 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 (check the bottom of the post for average rate computation example)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… (18 comments)

Section 194 BB Winning from Horse Race 30% limit 10000
In the Finance Act 1978,a new section was inserted after Section 194 B,Which aims Tax deduction from winning from Horse race. Any person, who is a bookmaker or holding a license of horse racing in any race course or for arranging for wagering or betting in any race course and is paying to any person by… (0 comment)