WebAfter section 194LD of the Income-tax Act, the following sections shall be inserted with effect from the 1st day of September, 2024, namely:—. '194M. Payment of certain sums by … WebSection - 194J. Fees for professional or technical services. 6 Record (s) Page [1 of 1] in 0.046 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. …
Section 194M of Income Tax Act for AY 2024-24 – AUBSP
WebA new section 194 M has been introduced by the Finance Act, 2024. Pursuant to this clause, if the individual makes payments to contractors and practitioners above Rs. 50 Lakhs, Individual is allowed to subtract TDS at a rate of 5% from the amount payable to the resident deductee/payee. Web12 Apr 2024 · Dhirajlal Rambhia (Expert) Follow. 12 April 2024 Effective 1 April 2024, any interest on an employee's contribution to EPF upto INR 2.5 lakhs per year is tax-free and any interest earned on a contribution over and above INR 2.5 lakhs is taxable in the hands of the employees. The threshold of INR 2.5 lakhs is increased to INR 5 lakhs in case the ... directly from my heart to you little richard
A Brief about New Section 194M of Income Tax act, 1961 - TaxGuru
Webon the same day where tax is paid without production of an Income-tax Challan 2. ... Due date for issue of TDS Certificate for tax deducted under section 194M in the month of February, 2024 5 Due date for issue of TDS Certificate for tax deducted under section ... Com pliance requirement under Income Tax act, 1961 Due Dates 07.04.2024 14.04. ... Web11 Apr 2024 · Where the income of non-resident person includes any income distributed by a business trust referred to in Sec 115UA of the Income Tax Act being interest, dividend, rental income etc referred to in Sec 10(23FC) or Sec 10(23FCA) of the Act , tax under Sec … Web29 Jun 2024 · As per section 194M, tax has to be deducted at source where the amount credited or paid to a contractor exceeds Rs.50 lakhs in aggregate during the financial year. In the given case, since the aggregate amount paid to the contractor during the Financial year 2024-2024 is less than Rs. 50Lakhs, i.e. 35 lakhs he is not liable to deduct TDS u/194M ... direct lyft