TDS on Rent of Property | Section 194IB of Income Tax Act Explained | #taxgyany

TDS on Rent of Property | Section 194IB of Income Tax Act Explained | #taxgyany

Welcome to the Tax Reporter YouTube Channel!
In this video, we break down Section 194IB of the Income Tax Act, which mandates the deduction of TDS on rent paid by individuals or HUFs. If you're paying rent over ₹50,000 per month, this rule applies to you! Learn about the 5% TDS deduction, when to deduct it, and how to deposit it using Form 26QC. We'll also cover important details such as when to provide Form 16C to your landlord and what happens if you fail to comply.

What you’ll learn:
Who needs to deduct TDS on rent?
When and how to deduct TDS under Section 194IB.
Step-by-step guide on depositing TDS through Form 26QC.
Penalties for late deduction or payment.
Key differences for non-resident landlords.
Don't miss out on this essential information to stay compliant with tax rules! Make sure to watch till the end to avoid common mistakes and ensure hassle-free rental transactions.
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If you’re eager to learn about Income Tax, GST, TDS, ROC, and Practical Accounting in an easy-to-understand, hands-on way, you’re in the right place! 🌟 We’re here to keep you updated with the latest tax news, offer practical courses, and share actionable tips that make complex tax concepts simple.

🎥 Video Focus:
In this video, we explain TDS reconciliation in accounting, a critical task for accountants managing company accounts. You’ll learn:
✔️ What TDS reconciliation is and why it’s essential for accurate financial management.
✔️ How to record TDS entries in Tally effectively.
✔️ The importance of Form 26AS and how it ensures compliance.
✔️ Practical tips to match TDS deductions with client payments, ensuring accurate entries.

💡 Questions This Video Answers:

What is TDS reconciliation in accounting?
How to record TDS entries in Tally?
Why is Form 26AS important for accountants?
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📜 Disclaimer:
The content shared on this channel is for educational purposes only. For specific tax or legal advice, please consult a qualified professional.

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Видео TDS on Rent of Property | Section 194IB of Income Tax Act Explained | #taxgyany канала TAX REPORTER