Section 194J: TDS on Professional Fee

By |2020-03-16T09:26:33+00:00July 18th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Section 194J of the  Income Tax Act of 1961, states that An individual should deduct TDS on professional fees paid by him to a resident exceeding Rs. 30,000/- Deductor Deductor of TDS on professional fees is a person (other than individual or HUF who is not liable to audit under section 44AB) who is paying to resident: Fees [...]

Section 194H: TDS on Commission Income

By |2020-09-14T12:29:29+00:00July 18th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

As per Section 194H of the Income Tax Act, TDS on commission income is required to be deducted by every person who is making the payment of such commission or brokerage. Deductor For the purposes of section 194H, a deductor is a person who is making the payment in the form of commission or brokerage to [...]

Section 194I: TDS on Rent

By |2017-07-28T10:53:03+00:00July 18th, 2017|Categories: TDS Laws|

TDS on rent is covered under the Section 194I  of the Income Tax Act. This section was inserted because the government felt that income through rent should be covered under TDS Deduction. This article is about the aspects of TDS on Rent. Who has to deduct TDS on Rent? From June 1, 2017, Individuals and Hindu [...]

Section 197: TDS Exemption Certificate

By |2020-03-16T09:26:48+00:00July 17th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

Introduction Section 197 of the Income Tax Act, 1961 provides for the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). This section strikes a delicate balance between the requirement of cash flow to the taxpayer and realizing the government dues at the earliest. We all know that, TDS is a method of [...]

Foreign Tax Credit (FTC) and DTAA

By |2018-06-25T10:29:54+00:00July 15th, 2017|Categories: TDS, TDS Laws|

Introduction Foreign Tax Credit (FTC) is mentioned in Section 90 and Section 91 of Income Tax Act, 1961.  In India, taxability totally depends on the residential status and the source of income. Both Non-Resident (NR) and Not Ordinarily Resident (NOR) is taxed on the Indian sourced income. A Resident and Ordinarily Resident (ROR) are taxed on [...]

Section 194C: TDS on Payment of Contractor

By |2020-03-16T09:21:22+00:00July 15th, 2017|Categories: Return Filing, Return Filing Forms, TDS, TDS Laws, TDS Rates|

TDS on contract is required to be deducted at the time of making any payment by the person who is making the payment for the contract. Under the Section 194C of Income tax which deals with any TDS on payment of contractor & Sub-Contractor. Section 194C: TDS on Contract If any individual is liable for paying [...]