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CBDT issued notification no. 67/2025 dated 20.06.2025 notifying no deduction of TDS under the provisions of Income tax in respect of certain payments, made by any ‘payer’ to a payee, being a Unit in an International Financial Services Centre.
CA Nitin Bhuta Mumbai presented a PPT on TDS on Virtual Digital Assets u/s 194S for AY 2025-26.
1. What is TDS on cash withdrawal u/s Section 194N about?
I am paying a monthly house rent of more than Rs 50,000. As per Section 194-IB of the Income Tax Act, I understand that TDS is applicable. Should I deduct and deposit TDS every month, or can it be done once at the end of the financial year in a single payment?
It seems that due to deletion of two words – ‘no deduction’ in the proposed new Income Tax Bill 2025 will result in removal of the concept of ‘nil TDS’ certificate for both Indian taxpayers and non-residents including NRIs.
The Income Tax Department has released a new brochure explaining Section 194-IB which relates to obligations of a tenant to pay Tax Deducted at Source (TDS) by deducting it from house rent.
The Central Government hereby specifies that no deduction of tax shall be made under section 194EE of the Act on payment of amount referred to in clause (a) of sub-section (2) of section 80CCA, which is withdrawn by an assessee being an individual, on or after the date of publication of notification no. 27/2025 dated 04.04.2025
Handbook on TDS and TCS, latest edition of 2025
The Income Tax Department has released a new brochure outlining Tax Deducted at Source (TDS) payment responsibilities for individual taxpayers. It specifically highlights TDS obligations related to property purchases, excluding agricultural land, and house rent payments exceeding a specified threshold.
