Failure to deduct tax under Section 194-IA may deem transferee as default

Q: How long will it take to read this news story?

The story "Failure to deduct tax under Section 194-IA may deem transferee as default" has 652 words across 24 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Failure to deduct tax under Section 194-IA may deem transferee as default" was covered 1 days ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 321 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #27475341</li><li>URL: https://chronographically.beamstart.com/news/failure-to-deduct-tax-under-17434222456108</li></ul>

Business Standard Logo Business Standard 1d ago

Failure to deduct tax under Section 194-IA may deem transferee as default - Business Standard

Quick Summary:

The Income Tax Department has released a new brochure outlining Tax Deducted at Source (TDS) payment responsibilities for individual taxpayers.

The rate of withholding is generally 1 per cent in the case of resident sellers in case the value of the property exceeds Rs 50 lakh.

In case the payer is of the view that the payment will not be taxable in the hands of the payee / seller, then in terms of sub-section (2), he may make an application to the Assessing Officer and remit the payment strictly in terms of the order passed by the Assessing Officer.