Healthy Practices for Error Free TDS Returns
Preparing TDS Returns is a simple process and usually does not require any external assistance. However, it is well advised to follow few practices that ensure the correctness of your… Read more »
Category: TDS
Section 194LA: TDS on Compensation for Compulsory Acquisition of Immovable Property
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 »
FAQ on Online Correction
What is Online Correction? TRACES has provided the functionality of “Online Correction” where deductor can perform correction of TDS return /TCS return online. Following are the various facilities available through online… Read more »
Section 194S – TDS on the transfer of virtual digital assets and cryptocurrencies
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 – TDS on Maturity Payment in Respect of Life Insurance Policy
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 »
TDS Under Section 194H – Brokerage & Commission
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 »