Income Tax

Be cautious about cash transactions with Income Tax

In India, cash transactions are a common feature in many financial dealings. However, with the government’s growing focus on curbing tax evasion and unaccounted money circulation, cash transactions are increasingly under scrutiny by the Income Tax Department. Taxpayers need to be fully aware of the limits and regulations surrounding cash transactions to avoid penalties or […]

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TDS on Rent Section 194IB: Tax Deduction on Rent Payments

TDS on Rent as per Section 194IB: A Detailed Guide for Individuals and HUFs

The Finance Act, 2017 introduced Section 194IB, which mandates the deduction of tax at source (TDS) on rent paid by certain classes of taxpayers. This provision specifically applies to Individuals and Hindu Undivided Families (HUFs) making rental payments above a specified threshold. In this blog, we’ll discuss everything you need to know about Section 194IB,

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