Category Archives: Tax Deducted at Source

No TDS on Rent for Nil Taxpayers

The provisions of TDS on Rent, state that, if amount of rentals paid during a financial year exceed Rs. 1,80,000/-, ┬áthen the lessee is required to deduct TDS while paying Rent to the owner of the asset. The rate of TDS is 10% for Land, Building or Furniture whereas 2%… Read more »

How to download Form 26AS?

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Sometimes the Taxpayer is not sure how much Tax(TDS) is being deducted from his Income. A Taxpayer can verify his details of Tax Deductions by logging-in into the Income Tax website. This details are available in the form of Tax Credit Statement(Form 26AS). Tax deduction details are filed quarterly and… Read more »

TAX DEDUCTED AT SOURCE (TDS)

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What is TDS? TDS means Tax deducted at source. Tax is deducted by the person while making the payment to any other person. TDS is an effective mechanism by which Government can reach a vast revenue bracket. Income-tax Act have bifurcated the TDS provisions according to different kind of payments… Read more »

TDS on Immovable Property u/s. 194IA

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Boom in real estate business in India has led to inflating land prices owing to this their is a sharp rise in black money. Government has introduced a separate act to curb money laundering practices. However to ensure the purchase/sale of immovable property is correctly offered for taxation, Ministry of… Read more »