Friends, Section 206AB Omitted Starting 1st April 2025, NGOs will no longer need to check for Specified Persons before deducting higher TDS. This section, which mandated a higher TDS rate for individuals who had not filed their Income Tax return and had TDS/TCS over â‚ą50,000, has been removed.
Dear friends, A significant change in TDS rates that will be effective from April 1, 2025. Section 194I - TDS on Rent Payments * Previous threshold: â‚ą2,40,000 per financial year * New threshold: â‚ą6,00,000 per financial year -OR- â‚ą50,000 per month (or part thereof) Section 194J -
Hello, Introducing the PATTIC Compliance Calendar — a carefully curated resource to help you track and meet key filing dates for Income Tax, TDS, EPF, ESI, GST, Professional Tax, and other mandatory submissions. April 2025: 11th April: GSTR 1 under monthly scheme 13th April: GSTR 1 under QRMP 15th April: EPF
As NGOs, we receive funds in different forms—subscriptions, donations, and sometimes even anonymous contributions. But how are these treated under tax laws? A recent post from one of our PATTIC forum members raised some key questions. Question: What if NGOs give a voucher in consideration of subscription (a monthly