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04Jan

Summary of Section 194T of Income Tax Act,1961

Background: Before enactment of Finance Act, 2024, there was no provision prevail regarding payments made to partners in respect of Salary, Remuneration, Commission, Interest or Bonus by the partnership firm. Regarding TDS on Salary: Explanation 2 Section 15 of Income Tax Act,1961 payments made to partner in form of Salary, Remuneration, Commission, Interest or...

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17Apr

TDS ON SALE OF IMMOVABLE PROPERTIES BY NON-RESIDENTS: RATES AND OPTIONS

Due to the rise in Globalisation, many Indian Residents have relocated out of India, but still own their ancestral or personally owned properties in India. For various purposes generally, these persons sell their properties situated in India. As per the Indian Income Tax laws, any capital gain that arises from the sale of immovable...

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