Under Section 194IB of the Income Tax Act, 196, individuals and HUFs must deduct 2 percent TDS on rent if the monthly amount ...

As the financial year draws to a close, many salaried employees are preparing to receive their Form 16, a crucial document for filing Income Tax Returns (ITRs). Form 16, which details salary income, ...

TDS Filing Online: Late filing of TDS return attracts a fine of Rs 200 per day till the TDS return is filed. TDS Online Return Filing: Tax deducted at source (TDS) as the name suggests is the amount ...

Certain payments made by individuals attract tax deduction at source (TDS), but many are unaware of it. For instance, 2% TDS applies to rent exceeding ₹50,000 per month, 1% on property purchases above ...

The Central Board of Direct Taxes (CBDT) on Thursday extended the deadline for filing quarterly TDS statement in Form 26Q for the June quarter by a month till November 30. Form 26Q is used for ...

If you pay more than ₹50,000 in monthly rent, there is an important income tax rule that every tenant in India should know. Under Section 194-IB of the Income Tax Act, tenants paying rent above this ...

According to the advisory, the correction statements for TDS and TCS can only be filed for Q4 of FY 2018-19 up to Q3 of FY 2023-24 until March 31, 2026. Earlier, the 6-year duration permitted for the ...