9) Income Tax Slab Sate for Individual Residents and NRI
The Income tax rates are different from those applicable to residents because of their residential status. Here we are going to discuss Income Tax Rates applicable to Non residents
The Income tax rates are different from those applicable to residents because of their residential status. Here we are going to discuss Income Tax Rates applicable to Non residents
Taxation depends upon residential status of the assesses. The income tax treatment of Non Residents assesses differ’s in many aspects from residents assesses. In this article we will discuss all about Non Residents taxation i.e. residential status and taxability of income.
As per income tax act, 1961 payment made to non residents attracts tax deducted at source (TDS) provisions. As per TDS provisions if a payment is covered under TDS provisions then there is a mandatory requirement to deduct TDS on such payment. In this article we will discuss all the TDS provisions which are applicable on payment to non residents.
NPS is a beneficial schemefor those people who are mainly in employment and wants some regular income after their retirements. In this article we will discuss in details about NPS
• All individuals or HUFs (except those liable to audit under clause a and b of section 44AB) paying monthly rent to a resident, in excess of Rs. 50,000 are liable to deduct TDS under Section 194-IB @ 5% of the Gross rent paid during the Financial Year.