Section 194O was introduced in the Union Budget 2020 and came into effect from 1st October 2020. It requires e-commerce operators to deduct TDS on the gross amount of sales… Read more »
Section 194LA of the Income Tax Act, 1961, requires any person (referred to as the “payer”) making a payment to a resident (the “payee”) for the compulsory acquisition of immovable… Read more »
In the Budget of FY:24-25, the scope of including more luxury items beyond motor cars was announced with the option to notify additions from time to time at a future… Read more »
Section 194S of the Income Tax Act was introduced to regulate taxation on transactions involving Virtual Digital Assets (VDAs), including cryptocurrencies and non-fungible tokens (NFTs). The provision ensures tax compliance… Read more »
Section 194DA of the Income Tax Act mandates the deduction of TDS on maturity proceeds of life insurance policies that are not exempt under Section 10(10D). This provision ensures tax… Read more »
What is Section 194H? Section 194H of the Income Tax Act is specifically dedicated to TDS deducted on income earned through brokerage or commission by any person liable to pay… Read more »