Deduction of tax at source from payment on transfer of certain immovable property 1 Provisions of Section 194-IA: (1) 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), shall,
The Central Board of Direct Taxes (CBDT) vide its Circular No 13 of 2022 dated 22nd June 2022 issues the guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act, 1961. The Central Government vide Finance Act 2022 in the Budget 2022 inserted a new section 194S in the Income-tax
The Finance Bill 2021 has proposed new Section 206AB and Section 206CCA under Income Tax Act, 1961 with effect from 01st July 2021, which provides for the higher rate of TDS and TCS respectively for the deductee who do not file their Income Tax Returns for both of the assessment years relevant to the two
