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 »
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 »
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 »
The Dividend Distribution Tax paid by Companies has been abolished in the Finance Bill 2020 and dividend income shall be taxable in the hands of investors now. Sec 194K was… Read more »
Deductor- The person(Individual/HUF) making investments in Equity Linked Savings Scheme shall make deduction as per Sec 80CCB. Deductee- UTI or respective Mutual Fund Time of Deduction- At the time of… Read more »
Deductor- Any person responsible for making payment of any amount for the amount standing in NPS covered under Sec 80CCA and accrued interest. Deductee- Person who has deposited in NPS… Read more »