Tag: tds
1% TDS on property purchase over Rs 50 lakh even in case of multiple buyers or sellers
(This story originally appeared in on Jul 26, 2024) Mumbai: In case of purchase of immovable property (other than agricultural land) from a resident seller,…
Budget 2024: Higher income tax on F&O trading income and a TDS on trading will necessitate taxpayers to revisit their tax plan
Securities and Exchange Board of India (SEBI) has conducted a study and published a report on 25 January 2023 on profits/ loss of individual traders…
Simplify these procedures for individual income tax payers in Interim Budget 2024: CII – Interim Budget 2024
The suggested categories of payments could be as follows:Salary: TDS rate at Normal slab ratesLotteries and horse race winnings: TDS rate at 30%All other payments:…
Budget 2024 expectations: 13 ways the FM can simplify matters for taxpayers: CII
The Interim Budget 2024, will be presented by the finance minister, Nirmala Sitharaman, on February 1, 2024. As always, all quarters of the economy has…
Interim Budget 2024 could simplify ITR filing process for NRIs
The government has taken various measures in the recent past to simplify income tax return (ITR) filing processes, however, there is still scope to do…
Why has India’s corporate tax mop-up failed to match the pace of personal income-tax collection?
Back in 2010-11, India’s corporate tax mop-up was twice its personal income tax (PIT) collection. Now both are almost equal. In the past decade, the…
e appeals scheme: CBDT notifies e appeals scheme 2023
New Delhi: The Central Board of Direct Taxes (CBDT) on Tuesday launched “e appeal” scheme announced in the budget to reduce pendency of appeals related…
Govt attempting to link tax collected at source with TDS: CEA V Anantha Nageswaran
The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that…
tds: Threshold for TDS levy on net winning from online gaming at Rs 100: CBDT
The Income Tax department on Monday said online game platforms will not be required to deduct tax at the source for a player if the…
tcs: Clarity needed on TCS levy on credit card payments, distinction between biz/personal visits: Tax experts
Tax experts on Monday sought clarity on the applicability of TCS on foreign payments of over Rs 7 lakh made via credit cards, saying it…