The deduction of TDS on payments for technical and professional services, royalties, non-compete agreements, and directors' compensation is governed by Section 194J of the Income Tax Act. This blog discusses the dates, thresholds, appropriate rates, and who must deduct TDS. Penalties, interest, and the disallowance of expenses may follow noncompliance. To guarantee compliance and prevent fines, be informed.

Significant modifications were made to charitable trust registrations under Section 12AB of the Finance Act 2020, which replaced Sections 12A and 12AA. The validity, due dates, and compliance requirements for trusts under Section 12AB are highlighted in this blog. Additionally, it describes the repercussions of non-compliance and provides practical advice on how trusts might successfully preserve their tax-exempt status.

For shareholders, the proposed increase in the corporate tax rate from 21% to 28% might have significant ramifications. Reduced capital gains, dividends, and corporate earnings might put stockholders at risk of higher taxes and slower market expansion. Higher taxes, though, may also lessen income disparity and boost public coffers. This blog examines the possible advantages and disadvantages of the new income tax laws for shareholders and offers advice on adjusting to these adjustments.

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.

The deadline to link your PAN with Aadhaar is fast approaching. By May 31st, all taxpayers must ensure this linkage to avoid higher tax deductions and penalties. This blog explains the importance, consequences of missing the deadline, and offers a step-by-step guide for linking PAN with Aadhaar. Stay compliant with the latest tax regulations to ensure smooth financial transactions and avoid complications.

This blog provides an in-depth explanation of Section 194N of the Income Tax Act, which mandates TDS on cash withdrawals exceeding specified thresholds. Introduced to promote digital transactions and curb black money, Section 194N impacts individuals, businesses, and other entities. Learn about its applicability, thresholds, rates, calculation methods, operational mechanisms, and the implications for account holders. Stay informed and manage your cash withdrawals efficiently with a thorough understanding of this important tax provision.