Whether Tds
This query is : Resolved
Quick Summary
21 June 2024
Question 1. Is TDS applicable on amount received as compensation by a tenant on surrender of his tenancy rights?
Profile Image
Ans> TDS not attracted but the income will taxable under the Head Income from other.
Question 2. Please clarify if the income is taxable what will be tds rate in case of super senior citizen and whether he can invest entire tax amount in some Government bonds tax saving bonds OR is there any threshold limit .
Suppose assume if Mr.A receives compensation of say Rs.20,00,000/- what will be his tds liability and how much he can invest in Govt.bonds.
Please advise.
Profile Image
Ans> TDS not attracted but the income will taxable under the Head Income from other.
Question 2. Please clarify if the income is taxable what will be tds rate in case of super senior citizen and whether he can invest entire tax amount in some Government bonds tax saving bonds OR is there any threshold limit .
Suppose assume if Mr.A receives compensation of say Rs.20,00,000/- what will be his tds liability and how much he can invest in Govt.bonds.
Please advise.
21 June 2024
It is taxed under capital gain.
If Long term gain, invest u/s 54EC of IT act
If Long term gain, invest u/s 54EC of IT act
30 August 2024
Good luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TDS AND ITR ISSUE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- GST Rate for Catering Services
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
