S K and Associates : TDS

Enhanced Threshold Limits For TDS

Enhanced Threshold Limits For TDS

<table border="0" cellpadding="0" class="MsoNormalTable" style="mso-cellspacing: 1.5pt; mso-yfti-tbllook: 1184;">
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 Section
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 Before 1st April 2025
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 From 1st April 2025
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-193-of-income-tax-act" target="_blank">193</a> - Interest on Securities
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 NIL
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
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 <tr style="mso-yfti-irow: 2;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194a-tds-on-interest-other-than-interest-on-securities" target="_blank">194A</a> - Interest other
 than
 Interest on securities
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 (i) 50,000/- for senior citizens;
 (ii) 40,000/- in case of others when the 
 payer is the bank, cooperative society and post office
 (iii) 5,000/- in other cases
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 (i) 1,00,000/- for senior citizen
 (ii) 50,000/- in case of others when the payer is
 a bank, cooperative society and post office
 (iii) 10,000/- in other cases
 </td>
 </tr>
 <tr style="mso-yfti-irow: 3;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 194 – Dividend, for an individual shareholder
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 5,000
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 4;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194k" target="_blank">194K</a> - Income in respect
 of units of a mutual fund
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 5,000
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 5;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/taxes-on-lottery-puzzles-game-shows" target="_blank">194B</a> - Winnings from
 lottery, crossword puzzle Etc.
 <a href="https://cleartax.in/s/taxes-on-lottery-puzzles-game-shows" target="_blank">194BB</a> - Winnings from
 horse race
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 Aggregate of amounts exceeding 10,000/- during
 the financial year
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 10,000/- in respect of a single transaction
 </td>
 </tr>
 <tr style="mso-yfti-irow: 6;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194d-tds" target="_blank">194D</a> - Insurance
 commission
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 7;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194g-under-income-tax-act" target="_blank">194G</a> - Income by way of commission, prize etc.
 on lottery tickets
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
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 <tr style="mso-yfti-irow: 8;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194h-tds-on-commission-brokerage" target="_blank">194H</a> - Commission or
 brokerage
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 15,000
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 20,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 9;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194i-tds-on-rent" target="_blank">194-I</a> - Rent
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 2,40,000 (in a financial year)
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 50,000 per month
 </td>
 </tr>
 <tr style="mso-yfti-irow: 10;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 <a href="https://cleartax.in/s/section-194j" target="_blank">194J</a> - Fee for
 professional or technical services
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 30,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 50,000
 </td>
 </tr>
 <tr style="mso-yfti-irow: 11; mso-yfti-lastrow: yes;">
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 194LA - Income by way of enhanced compensation
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 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 2,50,000
 </td>
 <td style="border: solid black 1.0pt; mso-border-alt: solid black .75pt; padding: 2.0pt 2.0pt 2.0pt 2.0pt;" valign="top">
 5,00,000
 </td>
 </tr>
</tbody></table>

Prepared by SK and Associates

Enhanced Threshold Limits For TDS

Enhanced Threshold Limits For TDS Section Before 1st April 2025 From 1st April 2025 193 - Inte...

TDS DEMAND #TDS #DEMAND #400

Key Changes in TDS for FY 2024-25

<h2 style="background-color: white; border-collapse: collapse; border: 0px; box-sizing: border-box; color: #1d2939; font-family: Supreme-Medium; font-size: 24px; line-height: 32px; list-style: none; margin: 0px 0px 16px; outline: 0px; padding: 0px; text-align: center;">Key Changes in TDS for FY 2024-25</h2><p style="background-color: white; border-collapse: collapse; border: 0px; box-sizing: border-box; color: #060b14; font-family: Supreme-Medium; font-size: 16px; line-height: 24px; list-style: none; margin: 0px 0px 10px; outline: 0px; padding: 0px; text-align: justify;">One of the most significant relief measures is the increase in the <a href="https://www.5paisa.com/stock-market-guide/tax/what-is-tds" style="background-color: transparent; border-collapse: collapse; border: 0px; box-sizing: border-box; color: #007bff; display: inline-block; list-style: none; margin: 0px; outline: 0px; padding: 10px 0px 0px; text-decoration-line: none;">TDS</a> exemption limit for senior citizens on interest income from fixed deposits, which has been raised from ₹50,000 to ₹1,00,000. Other notable changes include:<ul style="background-color: white; border-collapse: collapse; border: 0px; box-sizing: border-box; color: #171313; font-family: Supreme-Medium; font-size: 16px; list-style: none; margin: 0px; outline: 0px; padding: 0px;"><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">The annual TDS exemption limit on rent payments has increased from ₹2.40 lakh to ₹6 lakh.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"> </li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">A new TDS exemption threshold for interest on securities has been introduced at ₹10,000.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"> </li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">The TDS deduction limit for dividends paid to individual shareholders has been doubled from ₹5,000 to ₹10,000.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"> </li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">Commission and brokerage exemption limits have been raised from ₹15,000 to ₹20,000.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"> </li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">The threshold for professional or technical services has been increased from ₹30,000 to ₹50,000.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"> </li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;">Overseas remittances under the Liberalized Remittance Scheme (LRS) and overseas tour packages now have a higher threshold for Tax Collected at Source (TCS), increasing from ₹7 lakh to ₹10 lakh.</li><li style="border-collapse: collapse; border: 0px; box-sizing: border-box; list-style: disc; margin: 0px; outline: 0px; padding: 0px; text-align: justify;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiU_16DawTsYe4d90wlMOVd90WTOdVDpIfOauQMiJbk2vhjBUexDfLA1zDhP6MaNNdMr9UCfaIFeZG0VB5mUDu2n4VV5CjF0Meebveloji8yTu9X0AZwNGRYsDUAYNXBs7_HsQ7m0ryA4vBXtfWmhI94wgJ3BlOtEgF8eIRAgZIElgI6AjOEqhobPJOjGEE" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="300" data-original-width="500" height="192" src="https://blogger.googleusercontent.com/img/a/AVvXsEiU_16DawTsYe4d90wlMOVd90WTOdVDpIfOauQMiJbk2vhjBUexDfLA1zDhP6MaNNdMr9UCfaIFeZG0VB5mUDu2n4VV5CjF0Meebveloji8yTu9X0AZwNGRYsDUAYNXBs7_HsQ7m0ryA4vBXtfWmhI94wgJ3BlOtEgF8eIRAgZIElgI6AjOEqhobPJOjGEE" width="320" /></a></div> </li></ul>

Key Changes in TDS for FY 2024-25

Key Changes in TDS for FY 2024-25 One of the most significant relief measures is the increase in the TDS exemption limit for senior citi...

TDS on Commission & Brokerage

Section 194H of the Income
Tax Act: TDS on Commission & Brokerage

Section
194H of the Income Tax Act mandates TDS deduction on payments made as
commission or brokerage. Under this section, the person responsible for paying
commission, other than an individual or Hindu Undivided Family (HUF), must
deduct tax at 5% when the amount exceeds ₹15,000 in a financial year.
As per the Union Budget 2024, the TDS rate under Section 194H will be reduced
from 5% to 2% effective from October 1, 2024.

TDS on Commission & Brokerage

Section 194H of the Income Tax Act: TDS on Commission & Brokerage Section 194H of the Income Tax Act mandates TDS deduction on...

S K and Associates

Enhanced Threshold Limits For TDS

TDS DEMAND #TDS #DEMAND #400

Key Changes in TDS for FY 2024-25

TDS on Commission & Brokerage

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