Web3 Apr 2024 · Forms for Filing TDS Returns However, if tax is deducted at source under Sections 194-IA and 194-IB, the deductor shall furnish a challan-cum-statement in Form 26QB and Form 26QC, respectively. The deductor should provide the challan-cum-statement within 30 days from the end of the month in which TDS is deducted. Web30 Mar 2024 · Any person making specified payments mentioned under the Income Tax Act is required to deduct TDS at the time of making such specified payment. ... Also, in the case of TDS on rent as per Section 194- IB, and TDS on payment of certain sums by Individuals or HUFs as per Section 194M, the deductor can use PAN instead of TAN for remitting TDS. ...
Clarification and FAQs on Section 194IB of Income Tax Act, 1961
Web14 May 2024 · Why is Section 194I a part of the Income Tax Act? Letting out the property is a normal source of generating revenue. Earlies landlords were used to collecting the rent in cash and skip the tax liability on it. But tenant may be claiming those expenses in their P&L. TDS on rent is inserted into income tax ACt to plug this loophole. Web29 Jul 2024 · Explanation to section 194-IB of the Income Tax Act, 1961 provides explicitly the meaning of term ‘Rent’. As per the said explanation, Rent means any payment done … gag band merch
Hands-On FAQ
WebTherefore, never disclose your credentials (User ID, Password, OTP, PIN etc.) to anyone either through mail or over phone. If you receive any mail asking you to update or authenticate your User ID or Password, please DO NOT fall into the trap of putting in your Password or OTP or PIN. To know more on security tips CLICK HERE. WebThe Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Continue > © This is the official website of Central Board of Direct Taxes (CBDT), … Web11 Apr 2024 · The Finance Ministry, inserted sub section 2 to Section 194 R in the Indian Income Tax Act, 1961 with effect from 1st July 2024. The objective of this insertion was … gagays hotel and resort masbate