TDS on Winnings from Online Games Introduction Tax is deducted at source (TDS) at 30% under Section 194BA on net winnings from online games. TDS is deducted at the time of withdrawal or at the end of the financial year, whichever is earlier. The calculation of net winnings is prescribed under Rule 133. Applicability of TDS Deductor:Any person,… Read More »
GST Liability on Frozen Meat in Unit Containers and Right to Reimbursement Facts The Contract: The Petitioner was awarded a contract to supply frozen meat to the Indian Army. The Tax Payment: The Petitioner supplied the goods and deposited GST at the rate of 5%. The Dispute: The Petitioner sought reimbursement of the GST paid… Read More »
TDS on Winnings from Lottery, Crossword Puzzles, and Other Games Introduction Tax is deducted at source (TDS) at 30% under section 194B on winnings from lotteries, crossword puzzles, card games, gambling, betting, or other games (excluding online games). TDS is deducted at the time of payment. Applicability of TDS Deductor:Any person making payments for winnings from lotteries,… Read More »
TDS on Interest (Other than Interest on Securities) Introduction Tax is deducted at source (TDS) at 10% under section 194A on interest (excluding interest on securities) paid or payable to a resident individual if the payer is: A person other than an individual or HUF, or An individual or HUF whose turnover exceeds Rs. 1 crore (business)… Read More »
Efficacious Alternate Remedy: Writ Dismissed Where Statutory Appeal Exists Facts The Business: The Petitioner provides goods transportation services by aircraft and claimed exemptions under Heading 9965. Audit Background: Audits for the period 2017-18 to 2021-22 resulted in no objections regarding the Petitioner’s tax positions. The Dispute: During the audit for 2022-23 and 2023-24, the Department… Read More »
TDS on Dividend AY 2026-27 Introduction Every Indian company making payments of dividends is required to deduct tax at source (TDS) under Section 194 at the rate of 10%. The deduction applies at the time of distribution or payment of dividends. Scope of TDS on Dividends Deductor:Any Indian company or a company making arrangements for dividend declaration… Read More »
ode on Wages (Central) Rules, 2026 The Gazette of India CG-DL-E-08052026-272365 PART II—Section 3—Sub-section (i) PUBLISHED BY AUTHORITY No. 309] NEW DELHI, FRIDAY, MAY 8, 2026/VAISAKHA 18, 1948 MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 8th May, 2026 G.S.R. 343(E).—Whereas the draft of the Code on Wages (Central) Rules, 2025 were published as… Read More »
TDS on Interest on Securities Introduction Tax is deducted at source (TDS) at 10% under section 193 on interest payable on securities to a resident individual. The deduction is made at the time of credit or payment, whichever is earlier. Applicability of TDS Deductor:Any person responsible for paying interest on securities. Deductee:A resident recipient of interest. If… Read More »
TDS on Withdrawal from Employees’ Provident Fund (EPF) Scheme Introduction Tax is deducted at source (TDS) under section 192A on withdrawals from the Employees’ Provident Fund (EPF) if the employee has not completed five years of continuous service. TDS is deducted at 10% if the withdrawal amount exceeds Rs. 50,000. Applicability of TDS Deductor:The trustee of the… Read More »
TDS from Salary Introduction Every employer responsible for paying salary must deduct tax at source under section 192 if the salary income exceeds the basic exemption limit. TDS is deducted at the time of salary payment and is based on the estimated tax liability of the employee. Key Provisions Applicability:TDS applies to all employers, including individuals, firms,… Read More »