TDS Payment Due Date for Sections 194-IA, 194-IB, 194M, and 194S

Tax Deducted at Source (TDS) is a mandatory compliance under the Income Tax Act, ensuring tax collection at the source of income. Here’s a detailed breakdown of the due dates and requirements for TDS payments and filings for November 2024:

1. Sections Covered

  1. Section 194-IA:

    • TDS on the purchase of immovable property (other than agricultural land).
    • Deductor: Buyer of property
    • Rate: 1%

  2. Section 194-IB:

    • TDS on rent paid by individuals or HUFs not subject to tax audit.
    • Deductor: Tenant
    • Rate: 5%

  3. Section 194M:

    • TDS on payments to contractors/professionals by individuals or HUFs exceeding ₹50 lakh annually.
    • Deductor: Individual/HUF
    • Rate: 5%

  4. Section 194S:

    • TDS on the transfer of Virtual Digital Assets (VDAs), such as cryptocurrency.
    • Deductor: Buyer of VDA
    • Rate: 1%

2. Key Due Date

  • TDS Deduction Month: November 2024
  • Filing Due Date: 30th December 2024

3. Importance of Compliance

Filing the TDS challan-cum-statement on time is crucial to:
✅ Avoid penalties and interest charges.
✅ Stay compliant with income tax laws.
✅ Ensure smooth business operations without disruptions.

4. How Taxla Services Can Help

At Taxla Services, we simplify your TDS filings and payments. Our team of experienced tax professionals ensures:

  • Accurate calculation of TDS amounts.
  • Timely preparation and filing of challan-cum-statements.
  • Hassle-free compliance with all tax obligations.

💼 Stay stress-free and let us handle your TDS compliance!

📞 Contact Details:

Taxla Services – Trusted Income Tax Practitioners at your service!

#TDSFiling #TDSDueDate #TaxCompliance #194IA #194IB #194M #194S #TaxPractitioners #IncomeTax #TaxlaServices #StayCompliant



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