Guide to Tax Deduction At Source & Tax Collection at Source

Contents

Preface to the Twentieth Edition ……………………………………………………………………………………………….v
List of Circulars …………………………………………………………………………………………………………………….ix
Table of Cases …………………………………………………………………………………………………………………..xiii
Chapter 1 System of Collection of Tax [Sections 190 and 191]…………………………………………….1
Chapter 2 TDS from Salary [Section 192]………………………………………………………………………..13
Chapter 3 How to Estimate Income under the Head “Salaries” for Purposes of TDS
[Sections 15 to 17] …………………………………………………………………………………………60
Chapter 4 TDS from Payment of Accumulated Balance due to an Employee from
Recognised Provident Fund [Section 192A]…………………………………………………….144
Chapter 5 TDS from Interest on Securities [Section 193] …………………………………………………152
Chapter 6 TDS from Dividends [Section 194] ………………………………………………………………..182
Chapter 7 TDS from Interest other than Interest on Securities [Section 194A]……………………188
Chapter 8 TDS from Winnings from Lottery, Crossword Puzzle, Card Game, etc.
[Section 194B] …………………………………………………………………………………………….220
Chapter 9 TDS from Winnings from online games [Sections 194BA] ……………………………….230
Chapter 10 TDS from Winnings from Horse Races [Section 194BB] ………………………………….235
Chapter 11 TDS from Payments to Contractor (Including Sub-contractor) [Section 194C]…….241
Chapter 12 TDS from Insurance Commission [Section 194D] ……………………………………………285
Chapter 13 TDS from Payment in Respect of Life Insurance Policy [Section 194DA]…………..294
Chapter 14 TDS from Payments to Non-resident Sportsmen or Entertainer or Sports
Associations [Section 194E] ………………………………………………………………………….301
Chapter 15 TDS from Payments in Respect of Deposit under National Savings Scheme,
etc. [Section 194EE] …………………………………………………………………………………….308
Chapter 16 TDS from Commission, etc., on Sale of Lottery Tickets [Section 194G]…………….315
Chapter 17 TDS from Commission and Brokerage [Section 194H]……………………………………..324
Chapter 18 TDS from Rent [Section 194-I]………………………………………………………………………341
Chapter 19 TDS on Payment on Transfer of Certain Immovable Property [Section 194-
IA]……………………………………………………………………………………………………………..366
Chapter 20 TDS from payment of rent by certain Individuals or HUF [Section 194-IB] ………..373
Chapter 21 TDS from Payment under Specified Agreement Referred to in Section 45(5A)
[Section 194-IC]…………………………………………………………………………………………..378
Chapter 22 TDS from Fees for Professional or Technical Services or Royalty or NonCompete Fee [Section 194J] ………………………………………………………………………….384
Chapter 23 TDS from Income in respect of units [Section 194K]………………………………………..408
Chapter 24 TDS from Payment of Compensation on Acquisition of Certain Immovable
Property [Section 194LA]……………………………………………………………………………..416
Chapter 25 TDS from Income by Way of Interest from Infrastructure Debt Fund [Section
194LB]……………………………………………………………………………………………………….426
Chapter 26 Distributed Income of the Nature Referred to in Section 10(23FC) and
10(23FCA) Payable by Business Trust to Unit Holder [Section 194LBA]……………431
Chapter 27 TDS from Income in Respect of Units of Investment Fund [Section 194LBB]…….438
Chapter 28 TDS from Income in Respect of Investment in Securitisation Trust [Section
194LBC] …………………………………………………………………………………………………….445
Chapter 29 TDS from Income by Way of Interest from Indian Company or the Business
Trust [Section 194LC] ………………………………………………………………………………….451
Chapter 30 TDS on Income by Way of Interest on Certain Bonds and Government
Securities [Section 194LD]……………………………………………………………………………458
Chapter 31 TDS from Payment of certain sums by certain individuals or Hindu undivided
family [Section 194M]………………………………………………………………………………….466
Chapter 32 TDS on Payment of certain amounts in cash [Section 194N]……………………………..471
Chapter 33 TDS from Payment of Certain Sums by E-commerce Operator to E-commerce
Participant [Section 194-O]……………………………………………………………………………480
Chapter 34 TDS in case of specified senior citizen [Section 194P] ……………………………………..492
Chapter 35 TDS on Payment of Certain Sum for Purchase of Goods [Section 194-Q]……………496
Chapter 36 TDS on Benefit of Perquisite in Respect of Business or Profession [Section
194-R]………………………………………………………………………………………………………..511
Chapter 37 TDS on Payment on Transfer of Virtual Digital Asset [Section 194-S] ……………….526
Chapter 38 TDS from Payments (other than Salary) to Non-residents and Foreign
Company [Sections 195, 196A, 196B, 196C and 196D] ……………………………………538
Chapter 39 Other Provisions Relating to TDS [Sections 195A to 206AB] ……………………………596
Chapter 40 Tax Collection at Source [Sections 206C, 206CC and 20CCCA] ……………………….640
Chapter 41 Statement/Return of Tax Deducted/ Collected at Source [Sections 200(3),
206A, 206C(3), (3B), (5) and (5A) to (5D), 206CB] ………………………………………..668
Chapter 42 Consequences of Defaults [Sections 201, 206C(6) to (8), 234E, 271C, 271CA,
271H, 272A(2), 272BB, 276B and 276BB]…………………………………………………….686
Chapter 43 Equalisation Levy ………………………………………………………………………………………..715
Chapter 44 Frequently Asked Questions………………………………………………………………………….734
Chapter 45 Advance Payment of Tax [Sections 207-211, 218 and 219]……………………………….770
Chapter 46 Refunds [Sections 237 to 242 and 245] …………………………………………………………..786
Appendix 1 Relevant Rules…………………………………………………………………………………………….797
Appendix 2 Recent Judicial Decisions ……………………………………………………………………………..832
Appendix 3 Relevant Circulars and Notifications ………………………………………………………………899
Appendix 4 Relevant Forms………………………………………………………………………………………….1135
Appendix 5 Notified Foreign Institutional Investors…………………………………………………………1240