For the different payment types, as per applicability, standard TDS rates are specified. Under certain provisions of the Act, there could be deviation from this standard deduction rate. The ‘Remarks’… Read more »
Relief is provided under section 89(1), if salary pertaining to another period is received in advance/ or in arrears during a financial year, leading to additional tax liability. What is… Read more »
Section 194LBC of the Income Tax Act, 1961 has been inserted with effect from 1st June 2016. Deductor: A person making payment to an investor in respect of an investment in… Read more »
Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time of Deduction: Deduction shall be… Read more »
Section 194LBA of the Income Tax Act, 1961 has been inserted with effect from 1st October, 2014. The provisions of the same are explained hereunder – The Income covered under… Read more »
TDS shall be deducted under Sec 194LB for Interest from Infrastructure Funds if the following conditions apply- The interest income is paid by an infrastructure debt fund referred to in… Read more »