Simplifying Tax for C.A's and Taxpayers

Category Archives: Accounting / Auditing

Section 194-IB proposed to extend TDS provisions for rent to individuals and HUFs not covered by Section 194-I

Section 194-IB proposed to extend TDS provisions for rent to individuals and HUFs not covered by Section 194-I

Section 194-I of the Indian Income tax Act, deals with the deduction of tax at source from payment of rent. The tax is required to be deducted by specified classes of assesses on payment of rent above specified limit at a prescribed rate. Budget 2017-18 has proposed to insert a new section 194-IB to cover more taxpayers. Read More