Residential house property letting income taxed under 'Income from house property', not 'Business income'. Section 28 amended for clarity from AY 2025...
TDS on property transfer based on aggregate payment to all sellers, not individual payments below Rs. 50L. Prevents misinterpretation. Effective 1/10/...
Income Tax: Proposed amendment explicitly states that any sum referred to in sub-section (1) of section 194J does not constitute "work" for TDS u/s 194C, thereby excluding sums paid u/s 194J from section 194C. This clarifies that deductors should deduct tax u/s 194J instead of 194C for professional or technical services. The amendment takes effect from October 1, 2024.
Income Tax: Proposed amendment explicitly states that any sum referred to in sub-section (1) of section 194J does not constitute "work" for TDS u/s 194C, thereby excluding sums paid u/s 194J from section 194C. This clarifies that deductors should deduct tax u/s 194J instead of 194C for professional or technical services. The amendment takes effect from October 1, 2024.
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