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Blogs by: steffy
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April 13, 2023 By Steffy A
Section 139(8A) of the Income Tax ActSection 139(8A) of the Income Tax Act: ITR-U Form Guide Overview of Section 139(8A) and Form ITR-U Section 139(8A) of the Income Tax Act, 1961 governs the filing of Updated Returns through Form ITR-U. Under the Income-tax Act, 2025, the […]
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April 13, 2023 By Steffy A
TDS on NSS Withdrawal Under Section 194EE: 2025 UpdateTDS on NSS Withdrawal in Income Tax Act 2025: Section 194EE Introduction The National Savings Scheme (NSS) was introduced to encourage long-term savings among taxpayers while offering tax deductions on eligible deposits. Over the years, withdrawals made from NSS accounts […]
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April 10, 2023 By Steffy A
Comprehensive Guide for TDS Deduction on Rent under Section 194-ITDS deduction on rent under section 194I: Explained Introduction Section 194I of the Income Tax Act earlier governed the rules related to TDS on rent in India. Under this provision, tenants were required to deduct tax before making rent payments […]
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April 10, 2023 By Steffy A
TDS on Payment under Specified Agreements: Under 194MTDS on Payment under Specified Agreements: Section 194M Introduction TDS on payment under specified agreements applies to certain high-value payments made by an individual or Hindu Undivided Family to a resident contractor, professional, commission agent or broker. The purpose of […]
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April 6, 2023 By Steffy A
A complete guide on Section 194N of the Income Tax ActSection 194N: TDS on Cash Withdrawal Rules & Limits Introduction Section 194N was introduced under the Finance Act, 2019 and became effective from 1st September 2019. The purpose of this provision was to reduce large cash transactions and encourage digital […]
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April 3, 2023 By Steffy A
TDS Return for Sale of Motor Vehicle: Guide to TDS and TCSTDS Return for Sale of Motor Vehicle: Is TDS Applicable or Is It TCS? Introduction Many taxpayers search for TDS Return for Sale of Motor Vehicle when purchasing or selling a vehicle. However, under the Income-tax Act, 2025, the sale […]
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March 30, 2023 By Steffy A
Section 43B of the Income Tax Act: Deductions & RulesSection 43B of the Income Tax Act 1961: Conditions & Exceptions Introduction Many businesses record expenses in their books before making the actual payment. Section 43B of the Income Tax Act 1961 was introduced to ensure that certain deductions are […]
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March 30, 2023 By Steffy A
Section 206AA of the Income Tax Act: Higher TDS RulesSection 206AA of the Income Tax Act: PAN and Higher TDS Rules Introduction Section 206AA of the Income Tax Act, 1961 dealt with the requirement to furnish a Permanent Account Number, or PAN, where tax was deductible at source. It […]
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March 27, 2023 By Steffy A
Section 196B of the Income Tax Act: TDS on UnitsSection 196B of the Income Tax Act, 1961: TDS on Offshore Funds Introduction Section 196B of the Income Tax Act governed TDS on specified income paid to a qualifying Offshore Fund. It covered income from eligible units purchased in foreign […]
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