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CBDT Income Tax Income Tax Circular NSDL PAN TDS Traces

Section 194M – Rationale & Brief Analysis

A new section 194M was proposed in the Budget of 2019 wherein an individual or an HUF (those not covered in TDS), is now required to deduct TDS @ 5% for payments exceeding Rs. 50 Lakhs in a year to a resident contractor or to a professional (as defined u/s Section 194C and Section 194J […]

Categories
CBDT Income Tax Income Tax Circular NSDL PAN TDS Traces

Section 194M – Rationale & Brief Analysis

A new section 194M has been proposed in the Budget of 2019 wherein an individual or an HUF (those not covered in TDS), is now required to deduct TDS @ 5% for payments exceeding Rs. 50 Lakhs in a year to a resident contractor or to a professional (as defined u/s Section 194C and Section […]

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CBDT Income Tax NSDL PAN TCS TCS certificates TCS return TIN NSDL Traces

Budget 2017 – Changes in TCS Provisions

1.Restriction on cash transactions It is also proposed to consequentially amend the provisions of section 206C to omit the provision relating to tax collection at source at the rate of one per cent. of sale consideration on cash sale of jewellery exceeding five lakh rupees. This amendment will take effect from 1st April, 2017. 2.Exemption […]

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