"Individuals evade reporting by quoting incorrect, invalid, or fictitious PANs, or those belonging to others, to conceal ...
Tax Deducted at Source (TDS) under the Income Tax Act has undergone wide-ranging changes in the last decade. One of them was the introduction of rule - TDS on the sale of properties under Section ...
Purchasing a house can be a cumbersome task. You have to decide on a budget, arrange for the down payment and loan, select the property, negotiate with the seller, and also perform other statutory ...
To curb evasion of tax on property sales, the income tax department has made it mandatory for buyers of property to deduct TDS from payments made to the seller. TDS is applicable where total sales ...
Archit Gupta, CEO and founder, ClearTax, said, "If you purchase a property of more than Rs 50 lakh value, you need to deduct TDS at 1% from the payment you have made. The purchaser has to deposit this ...
Delhi HC quashed the penalty and directed TDS credit correction for NRI due to a buyer's form error in a 2015 property sale case. (Bloomberg) A Non-Resident Indian ...
15don MSNOpinion
Many property sellers have to pay 3.5 times more TDS and TCS due to issues with Income Tax TDS, TCS rules; Five such I-T rules need overhaul
In immovable property sale cases, NRIs may face both TDS and TCS depending on how the sale proceeds are handled.
Quoting false PAN can lead to a penalty of ~10,000 per default; wilful concealment can even result in imprisonment ...
Tax deducted at source (TDS) is applicable on various types of incomes during a financial year. It is, however, important that you compare the TDS paid with the actual tax liability during a year to ...
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