What are the expenses for with TDS applicable.Please give all the details of this.
Replies (6)
Quick Summary
This discussion clarifies the applicability of Tax Deducted at Source (TDS) under the Income Tax Act 1961. It outlines common expenses subject to TDS, referencing specific sections of the Act from 192 to 206. Key examples include salary payments, interest on securities, lottery winnings, insurance commission, rent, and professional fees.
If you are talking about the TDS to be deducted under the Income Tax Act 1961, the Refer Section 192 to Section 206 of the Income Tax Act 1961.
Some of the common examples of Expenses on which TDS is deducted is as follows :
Section 192 : Payment of Salary. Section 193 : Interest on Securities.
Section 194B : Winnings from Lotteries, Crossword Puzzles, Card Games and other games.
Section 194BB : Winnings from HORSE RACING ( including Jackpot given by the Race Clubs ).
Section 194D : Insurance Commission. Section 194G : Commission on Sale of Lottery Tickets.
Section 194H : Commission or Brokerage. Section 194-I : Rent on (a). Plant & Machinery, (b). Land or Buildings or Furniture or Fittings ; if the value of Rent exceeds Rs. 2,40,000 p.a.
Section 194J : FEES FOR PROFESSIONAL SERVICES, Remuneration to a Director.
Leave a Reply
Your are not logged in . Please login to post replies