Categories
Income Tax TDS

Section 194G- TDS on Commission on Sale of Lottery Tickets

Any income earned by a person in the form of commission, remuneration, or prize on lottery tickets (deductee) who has been selling lottery tickets (also stocking, distributing, and purchasing) is liable to pay taxes. Time of Deduction- TDS to be deducted at the time of credit or payment, whichever is earlier. Deductor- Any person responsible […]

Categories
CBDT Income Tax PAN TDS TIN NSDL Traces

Section 194C – TDS on Transporter

Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of: –1% in case if the payee is an Individual or a Hindu Undivided Family (HUF), and –2% in case of other payees (i.e. partnership firm, company, trust, […]

Categories
CBDT Income Tax PAN TDS TIN NSDL Traces

Section 194C – TDS on Transporter

Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of: –1% in case if the payee is an Individual or a Hindu Undivided Family (HUF), and –2% in case of other payees (i.e. partnership firm, company, trust, […]

Categories
CBDT Income Tax PAN TDS TIN NSDL Traces

Section 194C – TDS on Transporter

Section 194C of the Income Tax Act, 1961 states that any payment to a transporter is subject to a Tax Deduction at Source (TDS) at the rate of: –1% in case if the payee is an Individual or a Hindu Undivided Family (HUF), and –2% in case of other payees (i.e. partnership firm, company, trust, […]