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 »
New versions of File Validation Utilities (FVUs) for e-TDS/TCS statements are released by the Income Tax Department. The key features of these FVUs are summarized as under: FVU Version 8.4… Read more »
Salaried employees form the major chunk of the overall taxpayers in the country and the contribution they make to the tax collection is quite significant. Here we shall cover major… Read more »
Deductor- The Indian Company or a business trust paying interest income Deductee- A non-resident, not being a company, or to a foreign company Time of Deduction- At the time of… Read more »
As per Section 192 of the Income Tax Act, “any person responsible for paying any amount under the head salaries is required to deduct tax at source at the time… Read more »
The government has been looking at avenues to make income tax provisions simplified and lessen dependencies on consultants. A step towards it came through the introduction of Sec 115BAC- Tax… Read more »