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TDS under Section 195 is deducted at the time of payment to the payee or at the time of credit of income into the payee's account, whichever is earlier. TDS will be deducted only at the time of payment, in case of interest payable by Government, public sector bank, or public financial institution.

What is Section 195 of the Income Tax Act? Section 195 of the Income Tax Act, 1961, covers TDS deductions on transactions/payments of Non-Resident Indians. Any entity (resident or non-resident) who pays any amount other than salary to a non-resident has to deduct tax.

[See rule 29B] Application by a banking company or insurer for a certificate under section 195(3) of the Income - tax Act, 1961, for receipt of interest and other sums without deduction of tax.

[(6) The person responsible for paying to a non-resident, not being a company, or to a foreign company, any sum, whether or not chargeable under the provisions of this Act, shall furnish the information relating to payment of such sum, in such form and manner, as may be prescribed.95]

Common examples of Section 195 start-up expenses include employee training, rent, utilities, and marketing expenses incurred prior to opening a business.

- For the removal of doubts, it is hereby declared that where any salary paid in advance in included in the total income of any person for any previous year, it shall not be included again in the total income of the person when the salary becomes due.

Step 1 Taxpayer Login to e-Filing portal. Navigate to “e-File” menu and select File Form 15CA under File Forms sub-menu. Step 2 Taxpayer On selection of Form 15CA, PAN/TAN of Assessee is auto populated. Provide Financial Year, Filing Type and Submission Mode “Offline/Bulk”.

BASIS OF CHARGE (Section 15) The following income shall be chargeable to income tax under the head “Salaries” Any Salary due in the PY or any Salary paid in the PY = whichever is earlier Any arrears of salary paid in the PY, if not charged to tax for any earlier PY o ..... .....

Section 194-IA, provides that any person, being a transferee, responsible for paying (other than the person referred to in section 194LA) to a resident transferor any sum by way of consideration for transfer of any immovable property (other than agricultural land) shall deduct an amount equal to one per cent of such ...

Step 1 Taxpayer Login to e-Filing portal. Navigate to “e-File” menu and select File Form 15CA under File Forms sub-menu. Step 2 Taxpayer On selection of Form 15CA, PAN/TAN of Assessee is auto populated. Provide Financial Year, Filing Type and Submission Mode “Offline/Bulk”.

Section 15- 15 (Profit-making undertaking or plan) of the Income Tax Assessment Act 1997 applies to a profit arising in the 1997-98 income year or a later income year, even if the undertaking or plan was entered into, or began to be carried on or carried out, before the 1997-98 income year.