Dear Experts,

TDS on residential property exceeding 50,000/- has been paid vide challan 26QC at 5% on 31.03.2025

However TDS certificate (Form 16C) is getting generated at 2% since the rate is 2%. However TDS is excess paid and should get generated at 5% since paid higher than required. This is the case in other TDS compliances (other than rent exceeding 50,000)

Please advice if we can generate Form 16C at 5%?

Regards,

Dear experts,
I am getting rs.10000 per month as car allowance which is part of my gross salary. As I am using cab facility given by company for commuting to office and back home (official duty) I have to pay rs.5000 per month which is deducted in my salary and paid to private transport operators who are providing cabs.
Is deduction or exemption allowed in income tax, if yes how much and which regime? Please give your expert opinion.
Thanks in advance.

We are proprietorship company not covered under income tax Tax audit.
we are paying Commercial property Rent Rs.42000/-p.m to landlord & Deducting TDS u/s.194IB for the F.y2024-25. Is it applicable to us to deduct TDS on rent for F.y.2025-26.

Sir, when turnover exceeds one crore rupees, in the case of Individuals and HUF, then the applicability of TDS provisions triggers of only 194C, H, J, but not the other TDS provisions, as I understood from the provisions of 194C-Explanation:(i)(l)(B), Second Proviso to Section 194H, second proviso to Section 194J (1), Am I Correct?

Is partnership firm required to deduct tds if showing profits under 44AD?

ASSESSMENT COMPLETED U/S 147 OF THE IT ACT WITH DEMAND OF NILL. IN SUCH CASE TDS AMOUNT OF THE ASSESSEE IS TO BE REFUNDED OR NOT?

We have made the provision for INR 100000 towards Royalty Fees from Import Vendor on 31-Mar-25, as invoice not raised by vendor but royalty calculation is finalised. Hence 15CB and 15CA also cannot be prepared.
So please suggest TDS Impact U/s 195. When TDS Liability to be created on 31-Mar-25 or as and when Invoice received and 15CB and 15CA is prepared.

a resident indian assessee purchasing an immoveable property from an NRI. While paying the tds chalan the portal instructs to file TDS return 27Q. Can the experts explain the procedure for the payment of TDS ? Can the purchaser remit the TDS chalan under section 195 now and file the tds returns later.

Mr. A started transport business and purchased 3 trucks in the FY 2024-25. Invoice date of Truck 1 is 7.8.2024, invoice date of Truck 2 is 31.8.24 and invoice date of Truck 3 is 28.8.24. Registration date ( RC date ) of Truck 1 is 16.11.2024, registration date of Truck 2 is 22.11.2024 and registration date of truck 3 is 27.01.2025. My question is that for the purpose of presumptive taxation u/s 44AE what is the no of month owned the vehicle ? Whether no of month calculated from invoice date or from registration date.

Dear Sir,
Mr. A is a resident and liable to deduct TDS u/s 194M
Mr. A given a contract to Mr. B for house construction of Rs. 88.00 Lacs on Nov-2024.
Mr. A paid of Rs. 62.00 Lacs to Mr. B in FY 2024-25 and deduct TDS @2% u/s 194M.
Now
Mr. A paid balance payment to Mr. B of Rs. 26.00 Lacs as full & final in April 2025.
TDS deduct or not in balance payment of Rs. 26.00 Lacs as per 194M
due to Payment year change.