WebSection - 194J. Fees for professional or technical services. 6 Record (s) Page [1 of 1] in 0.046 seconds. TAX INFORMATION AND SERVICES. TAX LAWS & RULES. … Web11 Apr 2024 · Where the income of non-resident person includes any income distributed by a business trust referred to in Sec 115UA of the Income Tax Act being interest, dividend, rental income etc referred to in Sec 10(23FC) or Sec 10(23FCA) of the Act , tax under Sec 194LBA required to be deduced @ 5% or 10% or at the rate in force. Amended Provision
TDS Rate Chart AY 2024-25 (FY 2024-24) - thetaxtalk.com
Web3 Aug 2024 · Finance Act, 2024 has amended the provisions of section 194 of the Income Tax Act, 1961. Now, it provides for TDS on Dividend income declared, distributed and paid … This new provision, Section 194K, withdraws the exemption regarding income from units of mutual funds by abolishing Section 10(35). As per Section 194K, any person responsible for paying a resident with respect to: 1. Units of a mutual fund as per Section 10(23D) 2. Units from the administrator 3. Units from a … See more Under the previous income tax laws, dividends were taxed twice. Initially, a tax was imposed when a company would pay a dividend to an Asset Management Company (AMC). The second imposition of the tax was when … See more To sum up, the new provisions introduced by Budget 2024 have shifted the burden of tax payment on dividend income from the company distributing … See more TDS under Section 194K is not required to be deducted in the following cases: 1. Tax at 10% is not required to be deducted at source if the dividend … See more Under the current regime, the onus of reporting dividend income and capital gains was on individual investors. Dividend income from mutual funds was exempt under Section 10(35). On the other hand, there was no … See more how to use philips lumea
Section 194K: TDS on Dividend from Mutual Funds - Learn …
Web3 Feb 2024 · Section 194K: TDS on Dividend from Mutual Funds. Under Budget 2024 applicable from 1st April 2024 i.e. FY 2024-21, Dividend Distribution Tax – DDT was … Web10 Apr 2024 · This will be effective from 1st April 2024. This new section abolished the older section 10 (35) of the Income-tax Act, 1961. As per new Section 194K, any person responsible for paying an income to a resident with respect to: 1. Units of a Mutual Fund as per Section 10 (23D) 2. Units from the Administrator. Web9 Feb 2024 · Section 115BAA of the Income Tax Act, 1961, is an income tax provision in India that provides for a lower tax rate for specific individuals who receive income from a business or profession. If a corporation opts for Section 115BAA, which has a lower tax rate than the standard rate of tax that applies to people, it will not be liable for MAT ... organize a meeting