A salaried professional, Abhishek, received a shock when he was hit with an income tax notice demanding a penalty of Rs 1,00,000 for failing to deduct Tax Deducted at Source (TDS) on his monthly rent ...

When a young Mumbai-based couple bought an apartment from a seller who resides outside India, they ensured that they fully complied with the rules on tax deducted at source (TDS). They deducted the ...

Non-resident Indians (NRIs) commonly invest in real estate in India, and rent it out. If your landlord happens to be an NRI, make sure you deduct tax at source (TDS) each month from the rental payment ...

The tax department is sending notices to salaried taxpayers who claimed HRA but didn’t deduct TDS on rent above ₹50,000. With a 31 March deadline to amend returns, tenants could face penalties if they ...

Since a few years now, the Income Tax (IT) Department has been making protocols with respect to realty transactions, making it much more stringent. From registering rental agreements with the correct ...

The government last year introduced Section 194IB of the I-T Act, which makes it mandatory that individuals and HUFs who are paying rent of more than Rs 50,000 per month have to deduct 5% of the rent ...

(Eds: Minor edits in header, intro) New Delhi, May 14 () Tax deducted or collected at source on payment of dividend, insurance policy, rent, professional fee and on the acquisition of immovable ...