Web19 Jul 2024 · As per section 194-I dealing with deduction of tax at source from payment of rent, the rate of TDS applicable is 1.5% for machinery hire charges and 7.5% for building lease rent. The rates are applicable if payment is made after 14th May 2024. The scope of the section includes within its ambit, rent for machinery, plant and equipment. Web27 Nov 2024 · ITAT Held The Tribunal held that section 194C (7) provides that if a person who is responsible for paying or crediting sum to a contractor on which tax is not deducted in accordance with section 194C (6), then details of such contractor has to be furnished to the prescribed income-tax authority along with the PAN in Form 26Q.
Proposed amendment u/s 194J would reduce litigation and not …
Web3 Aug 2024 · The relaxation under section 194C (6) for non-deduction of tax shall be available when the following conditions are satisfied: (a) Payment has been made in the nature of transport charges (whether paid by a person … Web3 Feb 2024 · As per section 194C, when a person is responsible for paying any sum to a resident contractor for carrying out any work (including the supply of labour) in the execution of a contract between the contractor and the specified person, then they shall deduct TDS while making the payment. life is good golf shirts
TDS on advertising - Taxfull
WebAnd rest all in 194C. Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement. Thank you. Naman Maloo. CA, Jaipur. 4133 Answers. ... TDS on all the payments would be under section 194C at 1%(Individual/HUF) or 2%(others) WebFormat of Return Under Section 194C (6) For Non – Deduction of Duty at Citation (TDS) to be furnished by the Transporter wef 01.06.2015 i.e. NO TDS in case. Free Trial . Home ; Services . Fleet Management . ... Section 194C of the Indian Income Tax Deed, 1961 condition so no deduction shall be made from any sum credited or paid to a ... Web11 Jun 2024 · Section 194C provides for TDS to be deducted on payment made to advertising agencies. TDS on advertisement agencies is required to be deducted under … life is good golf tee shirts