WebApr 10, 2024 · Section 194I imposes an obligation for TDS deduction on persons making rental payments to resident Indians exceeding Rs.2,40,000 in a financial year. Section 194-I was introduced to bring rent under the purview of TDS provisions as rent is a key source of income that was escaping the tax net. WebMay 14, 2024 · TDS on rent under section 194I shall be deducted at the following rates: i. 2% in respect of rent paid for the plant, machinery, or equipment ii. 10% in respect of other …
Clarification on TDS Deduction Under New Tax Regime: Circular …
WebJul 20, 2024 · Rate of deduction of TDS on payment made towards Hotel Accommodation under Section 194I of the Income Tax Act, 1961. The rate at which TDS is to be deducted … Web4 rows · Jul 26, 2024 · Section 194-I of the Income Tax Act, 1961 provides that no TDS would be deducted if ... lifelabs sherbourne
Section 194-IA (TDS on Immovable Property Purchase) w.e.f. 01 …
Websection 194-IA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land). 5 Who is the payee: The payee is … WebApr 11, 2024 · No.370142/06/2024-TPL dated 05th April, 2024. Department issued an Clarification regarding deduction of TDS under section 192 read with sub-section (IA) of … WebApr 11, 2024 · Section 194-IA (TDS on Immovable Property Purchase):- 1) Applicability :- Section 194-IA is applicable on any person being Resident or Non-Resident Transferee (buyer of the immovable property) who purchases any immovable property (other than agricultural land) from a Resident Transferor (seller of the immovable property). 2) Rate of … mctears contemporary art auction