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  1. Dec 1, 2020 · Understanding Section 194IA, 194IB & 194LA of the Income Tax Act, 1961. Learn about the provisions and deductions related to property transfers.

  2. Jan 16, 2024 · Section 194I of the income tax covers TDS on rent. It imposes an obligation for TDS deduction on persons (other than individual/HUF who are not subject to audit) making rental payments to resident Indians above a specified limit, i.e., Rs.2,40,000 in a year.

  3. Jul 6, 2021 · Any person, being a transferee responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land), is liable to deduct tax at source under this section.

  4. Jun 13, 2024 · Can I pay 1% TDS under section 194IA for purchasing a property from an NRI? No, the seller should be resident for TDS deduction under this section. Click here to know more on TDS on purchasing a property from an NRI.

  5. Under section194IB, individuals or HUFs are liable to deduct TDS on rent, in case the rent exceeds Rs.50,000. In this article, we look at Section 194IB & 194IC of Income Tax act in detail.

  6. Learn about 194IA and 194IB TDS rates under the Income Tax Act. Get insights on pension withdrawal and compliance with 194i(a) and 194i(b) and Simplify your tax journey @ TATA AIA.

  7. Jul 6, 2021 · Section 194-IB provides that tax at a rate of 5% (3.75% w.e.f. 14.05.2020 to 31.03.2021) should be deducted by the Tenant, Payer or Lessee at the time of making payment of rent to, Lesser, Landlord or Payee. The tax so deducted has to be deposited to the Government Account through online by any of the authorized bank branches.