As per Section 194J(1)(ba), any remuneration or fees or commission by whatever name called other than those on which tax is deductible under Section 192, to a director of a company shall be liable for TDS under Section 194J. Analysis of Section 194J(1)(ba) This clause will apply only in respect
Persons required to deduct tax under this section Any person who is responsible for paying to a resident, commission or brokerage is required to deduct TDS. If commission is payable in respect of insurance commission under section 194D then such commission is not covered under this section. However in case
The principal officer of an Indian company or a company which has made the prescribed arrangements for the declaration and payment of dividends within India is liable to deduct tax at source on dividends. Tax is to be deducted at the time of credit of such amount to account of
Certification for Tax Deducted at Source and Tax Collected at Source are to be issued in the following manner – Form no. 16 for TDS from Salary Form no. 16B for TDS under section 194-IA Form no. 16A for any other TDS Form no. 27D for TCS Time limit for
Any person responsible for paying to a resident any compensation on account of compulsory acquisition of any immovable property (other than agricultural land) is responsible for deducting tax at source. Tax is to be deducted at the time of payment of aforesaid sum in cash or by cheque or draft
(1) Subject to the conditions specified in sub-rule (2), a person— (a) in receipt of income or deemed income derived from property held under trust wholly for charitable or religious purposes and who claims exemption under section 11 or section 12; or (b) required to file a return in respect of a
Insurance company paying amount to a resident under a life insurance policy including bonus is liable to deduct TDS @ 1% (2% before 1st June 2016). TDS is to be deducted only when such sum is not exempt from income tax under section 10(10D). Also tds is to be deducted
This section is inserted by Finance Act 2014 and is applicable from 1st Oct, 2014. Tax is to be deductible if a business trust distributes any income referred to in section 115UA being of the nature referred to in section 10(23FC) to its unit holder. Time of deduction – Tax
Person responsible for paying to a resident commission or otherwise for soliciting or procuring insurance business including continuance, renewal or revival of policies is required to deduct TDS. TDS is required to be deducted at the time of credit of such amount or payment thereof whichever is earlier. TDS is
TDS is deductible from the payment of winnings from lotteries, puzzles, card games or other games, exceeding Rs. 10,000 at the rate of 30% . Where the prize is partly in cash and partly in kind, then TDS is deductible on total prize i.e cash + value of prize in