Allocation of Interest in TDS Returns
For delayed payment of TDS or delayed deduction, the deductor needs to pay interest for these delays. The interest is paid in through Challan / Book Entry similar to TDS… Read more »
Monthly Archives: February 2022
Significance of the ‘REMARKS’ in TDS Returns
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 »
Section 89(1) Relief on Salary Arrears and Salary in Advance
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 – Income in respect of Investment in Securitization Trust
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 – Income in respect of units of the Investment Fund
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 – Certain Income from units of Business Trust
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 »