Form 26QB,26QC,26QD,26QE
The Income Tax Act, 1961 has laid out a few key rules regarding sale and purchase of immovable property. In such transactions covered under Section 194-IA, the buyer, also known as the deductor, is required to deduct TDS if the transaction value is more than Rs. 50 lakhs. Subsequently, the deductor will required to issue Form 16B to the deductee (seller).
The Income Tax Act, 1961 has laid out a few key rules regarding Payment of rent by certain individuals or Hindu undivided family. In such transactions covered under Section 194-IB, the person, also known as the deductor, is required to deduct TDS if the transaction value of rent is more than Rs. 50,000. Subsequently, the deductor will required to issue Form 16C to the deductee (payee).
| The Income Tax Act, 1961 has laid out a few key rules regarding Payment of certain sums by certain individuals or Hindu undivided family.. In such transactions covered under Section 194-M, the person, also known as the deductor, is required to deduct TDS if the transaction value is more than Rs. 50 lakhs. Subsequently, the deductor will required to issue Form 16D to the deductee (payee). |
The Income Tax Act, 1961 has laid out a few key rules regarding Payment on transfer of virtual digital asse. In such transactions covered under Section 194-S, the person, also known as the deductor, is required to deduct TDS if the transaction value is more than Rs. 10,000/ 50,000 as case may be . Subsequently, the deductor will required to issue Form 16E / 16A to the deductee (payee).