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 »
Tax Deducted at Source (TDS) & Tax Collected at Source (TCS) compliance is a crucial responsibility for all deductors and collectors. While the process is straightforward, common mistakes can lead… Read more »
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 »
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 »
Section 194C of the Income Tax Act governs the deduction of tax on payments made to contractors or subcontractors for carrying out any work, including the supply of labour. What… Read more »