Web13 de abr. de 2024 · The TDS under Section 194EE applies to all deposits made under the National Saving Scheme, including NSC, PPF, KVP, etc. The interest earned on these deposits is taxable under the head “Income from Other Sources.”. The TDS on such interest is required to be deducted at the time of payment or credit of interest, whichever is earlier. Web26 de jul. de 2024 · The amount of TDS on property purchase in India is 1% or 0.75% to be deducted from the sale consideration (depending upon the Date of Payment/Credit to the Seller). The consideration is the amount of cost that is mentioned in the sale-purchase agreement or the sale deed.
Calculation of Income Tax TDS and GST on Purchase Transactions
Web30 de mai. de 2024 · Under the income tax laws, TDS is levied on various incomes such as salaries, fixed deposits, recurring deposits etc. The tax is deducted when income is accrued or paid whichever is earlier. The person who is making the payment is responsible for deducting the tax and depositing the same with government. TDS stands for 'Tax … Web11 de abr. de 2024 · 01. Suppose as a buyer, we need to deduct TDS U/s 194Q for the purchase more than Rs 50.00 Lakhs. 02. Whether do we need to consider this threshold limit for every year. TDS deducted for transaction value more than Rs 50.00 lakhs. TDS to be ducted from Rs 1.00 onwards or after reaching the value of more than Rs 50.00 Lakhs. theoretical driving course reviewer free pdf
TDS on purchase of immovable property (apartment) - Taxfull
Web23 de nov. de 2024 · A payee can deduct TDS on the payable amount if the aggregate value of the contract exceeds Rs. 2.5 lacs. TDS is deducted against taxable services to supplier. Taxable value is the total value on which tax is computed. TDS is applicable on taxable value or aggregate value of supply. Aggregate value of contract must exceed … Web16 de jun. de 2024 · When the total value of taxable goods or services or both, under a contract, exceeds Rs 2,50,000 GST TDS needs to be deducted. Example – M/s Tigers Ltd entered into 2 contracts for supply of goods to PSU valued Rs 2,30,000 and Rs 2,40,000. No tax will be deducted as each taxable supply under a contract is not exceeding Rs 2,50,000. Web10 de abr. de 2024 · 1. It is mandatory for employees to choose a tax regime option between the old and new regimes. As New Tax Regime has become the default option from FY 2024-24, not declaring your choice now will ... theoretical driving examination