Tuesday, September 23, 2014

section 195 of income tax act rate of tds fy 2014-15 ay 2015-16

section 195 of income tax act rate of tds fy 2014-15 ay 2015-16

     - Importance of Section 195 income tax act 1961
     - Objective of Section 195 for financial year 2014-15 Assessment Year 2015-16
     - Chargeability of Section 195
     - Unique Feature of Section 195
     - Overview of Section 195

TDS on Non-Resident Payments under section 195 FY 2014-15 AY 2015-16

Section 195

As per Section 195 income tax Act 1961 , Any individual who is responsible for paying to a non-resident , not being a company, or to a overseas company, any interest or any other amount taxable under the provisions of this Act (not being income chargeable under the head "Salaries"  shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force.

Source:http://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

Section 195 Income tax Acts 1961

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