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# tds

12 posts in `tds` tag

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Income tax

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.
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Income tax

Updated TDS Rates and Limits Effective from April 1, 2025: Significant Modifications and Effects

The Indian Government has updated TDS rates and thresholds starting from 1st April 2025, providing relief for taxpayers. Major alterations encompass increased exemption limits for interest earnings (Section 194A), rental income (Section 194I), and professional charges (Section 194J), along with revised thresholds for real estate transactions and cryptocurrency dealings.
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Income tax

Circular No. 5/2025: Comprehensive Guide on Interest Waiver for TDS/TCS Delays

Circular No. 5/2025 offers support by canceling interest on delays in TDS/TCS as per Sections 201(1A)(ii) and 206C(7) of the Income-tax Act. This blog outlines who is eligible, the steps to apply, and the ways taxpayers can gain from this relief.
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Income tax

New TDS Rules for LLPs & Partnership Firms (2025): Key Changes & Compliance Guide

Recent TDS regulations for LLPs and Partnership Firms will be implemented starting April 1, 2025, which will impose taxation on payments made to partners, including profit distributions, interest, and salaries. This blog outlines the main modifications, the implications for compliance, and strategies for businesses to prepare.
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Income tax

Interpreting the CBDT’s Seventh Amendment Rules, 2025: Section 194T and Its TDS Effects.

The 7th Amendment Rules 2025 established by the CBDT introduces Section 194T, which requires a 10% TDS on salaries, bonuses, commissions, and other earnings. Understand its implications, necessary compliance measures, and how both businesses and individuals should adjust.
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Income tax

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.
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Income tax

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.
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Income tax

HRA Notice Alert! How to Respond and Prevent Future Issues

This detailed guide outlines the reasons taxpayers are issued HRA scrutiny notices, particularly for claims exceeding 5L. It also covers how to react by verifying claims, settling any unpaid TDS under Section 194IB, modifying ITR, and providing CA certificates to prevent penalties and future audits.
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Income tax

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.
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Income tax

New Section 194T TDS Rules: Impact on Taxpayers Beginning April 2025

The new Section 194T TDS rules, which take effect on April 1, 2025, will have an impact on both taxpayers and companies. This blog discusses the applicability, compliance requirements, and measures to guarantee compliance with the new TDS laws.
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Income tax

Notice the Last Date! Today, March 17, 2025, issue TDS Certificates (Forms 16B, 16C, and 16E).

The last day to issue TDS Certificates (Forms 16B, 16C, and 16E) for the fourth quarter is today, March 17, 2025. These certificates serve as proof of TDS deduction and deposit with the government. If they are not issued on time, there may be compliance problems and fines of ₹100 each day. The significance of these certificates, who must provide them, the consequences of non-compliance, and how to obtain them from the TRACES site are all covered in this blog. Take immediate action to guarantee tax compliance and prevent fines!
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Income tax

Understanding Section 194-IA: TDS on property purchases in India

Section 194-IA of the Income Tax Act requires TDS deduction for property transactions above ₹50 lakhs. This blog gives a detailed reference to TDS deductions, compliance requirements, and the penalties of noncompliance for Indian property buyers. Stay informed and avoid fines with our in-depth insights.