The Central Board of Direct Taxes (CBDT) has inserted a new Section 194Q in the Income-tax Act 1961 on Wednesday, 30 June. It applies to buyers, who are responsible for paying any sum to any resident ...
In a clarification issued by the Central Board of Direct Taxes (CBDT), it said that since the threshold of Rs 50 lakh for the payment of TDS or TCS is with respect to the previous year, calculation of ...
Section 194Q relating to TDS deduction by businesses was introduced in the 2021-22 Budget and has come into effect beginning July 1, 2021. Businesses buying shares or commodities traded through ...
The Finance Minister, Nirmala Sitharaman, is set to present the Interim Budget on February 1, 2024. Expectations from all sectors of the economy are high. Tax Rationalization and Simplification: ...
The tax is being introduced through a new section 194S in the Income-tax Act, 1961 The exchange will have to deduct the tax when the same is an intermediary Tax deduction under 194Q of the Act would ...
New Delhi: Businesses buying shares or commodities traded through recognised stock or commodity exchanges for any value even above ₹50 lakh will not be required to deduct TDS on the transaction, the ...
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