About the Video
In this video, we have covered TDS on Commission - Section 194.
▲ Tax Deducted at Source (TDS) is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest, etc. by the persons making such payments.
1. The terms of Tax Deductions for Commission and Brokerage revenue are governed by Section 194H of the Income Tax Act.
#TaxDeductionsforCommissionandBrokerage #Section194H #IncomeTaxAct
2. It states that when a person or a Hindu Undivided Family (HUF) Member pays a Resident for Commission or Brokerage, TDS must be deducted at the time of payment, whether in cash or by check.
#HinduUndividedFamilyMember
3. The term ‘commission or brokerage,’ as defined by Section 194H, includes any payment.
4.Obtained or to be received, directly or indirectly, by an individual working on behalf of another person.
5. Individuals and members of Hindu Undivided Families are only required to pay TDS if their tax audit is done under Section 44AB.
#Section44AB
6. Any extra charge or educational fees cannot be deducted from the TDS on commission and brokerage.
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Time Stamps:
1. The terms of Tax Deductions: 0:08
2. It states that when a person or HUF: 0:17
3. The term commission or brokerage: 0:31
4. Obtained or to be received: 0:39
5. Individuals and members of HUF: 0:47
6. Any extra charge or educational fees: 0:58
To know more about ITR: 1:08
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Related Videos:
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Exemptions Under Section 10 of the Income Tax Act: [ Ссылка ]
How to Pay Advance Tax Online?: [ Ссылка ]
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For More Information About ITR
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