# rental
10 posts in `rental` tag
.jpg)
TDS on Residential Property Rent: Section 194IB Rules & Rate Change 2024
A comprehensive overview of Section 194IB TDS applicable to residential rental payments exceeding ₹50,000. Discusses the reduction in the tax rate from 5% to 2% starting October 2024, provides calculation examples for the fiscal year 2024-25, outlines the payment procedure using Form 26QC, and details the penalties involved.
-
By Krishna
.jpg)
Scrutiny on Rental Income: Tax Notices for TDS Non-Compliance on High Rent
The Income Tax Department is intensifying its efforts against non-compliance regarding TDS deductions for rental payments that exceed
50,000 per month. Understand Section 194IB, the penalties for failing to deduct, and the procedures to follow when addressing tax notices.
-
By Krishna
Rental Earnings Being Evaluated: Income Tax Notifications for Non-Withdrawal of TDS on Elevated Rent
The Income Tax Department is intensifying its efforts against non-compliance regarding TDS deductions for rental payments that exceed
50,000 per month. Understand Section 194IB, the penalties for failing to deduct, and the procedures to follow when addressing tax notices.
-
By Krishna
.jpg)
New TDS Rules 2025: Changes in Tax Deduction Limits for FD Interest, Dividends & Rental
This article discusses the impending modifications to TDS regulations that will take effect in April 2025, particularly highlighting the raised thresholds for FD interest, dividends, and rental income. Discover how these changes can advantage taxpayers and what steps to take in anticipation of the new rule.
-
By Krishna
.jpg)
Section 80E and HRA: A Complete Guide to Maximizing Tax Savings
Section 80E and HRA are two major tax deductions in India. Section 80E permits deductions for school loan interest, while HRA gives relief for rent payments. This article discusses how these deductions operate, their important characteristics, and how to optimize your tax savings by utilizing both.
-
By Krishna
.jpg)
TDS on Rent Limit Increased from 2.4 Lakh to 6 Lakh – Key Changes & Effects
The Indian government has increased the TDS on rent threshold from 2.4 lakh to 6 lakh per annum. This move aims to reduce compliance burdens for tenants, ease cash flow for landlords, and align with rising rental costs. In this blog, we discuss the key changes, benefits, compliance requirements, and the impact on individuals and businesses.
-
By Krishna
.png)
Understanding the New RCM Rules for Rental of Immovable Property
This blog post explains the recent changes to the Reverse Charge Mechanism (RCM) for property rentals in India. Landlords of commercial properties are now responsible for paying GST on behalf of unregistered tenants. The changes take effect on October 10, 2024. Businesses must update their accounting systems and seek professional advice to ensure compliance.
-
By Krishna
Comprehending Income Tax Act Section 25A: Unrealized Rent and Rent Arrears Taxation
The Income Tax Act's Section 25A deals with the taxation of unrealized rent and rent arrears that property owners recoup. This clause permits a 30% reduction prior to taxation and makes it clear that arrears remain taxed even after the property is sold. To assist property owners in understanding their tax responsibilities, this blog offers a thorough explanation of Section 25A's application, as well as an analysis of its main clauses and useful examples.
-
By Krishna
Unlocking Section 10(13A) Benefits: An All-Inclusive Guide to House Rent Allowance (HRA)
This blog post provides a detailed guide to Section 10(13A) of the Income Tax Act, which allows salaried individuals to claim exemption on House Rent Allowance (HRA) received from their employers. The post covers the eligibility criteria, calculation, and documents required to avail this tax benefit, making it a valuable resource for individuals looking to optimize their tax planning.
-
By Krishna
Detailed Guide on Form 26QB and Form 26QC: Key Differences and Procedures
This blog provides an in-depth comparison and detailed explanation of Form 26QB and Form 26QC, essential for TDS compliance in property and rental transactions. Learn about the applicability, procedures, and key differences between these forms to ensure proper tax deduction and reporting.
-
By Krishna