TDS on Property (Section 194-IA)
Definition
A requirement for a buyer to deduct tax at source on the purchase of immovable property in India above a value threshold, depositing it against the seller's PAN.
Related Terms in India GST
Securities Transaction Tax (STT)
A tax levied in India on the purchase and sale of securities such as shares and derivatives on recognised exchanges, collected at the time of the transaction.
Form 15CA / 15CB
Forms used for foreign remittances from India — 15CA is the remitter's declaration and 15CB is a chartered accountant's certificate on the taxability and tax withheld — required for many payments to non-residents.
MSME / Udyam Registration
Registration of a micro, small or medium enterprise in India under the Udyam system, giving access to benefits such as priority lending and protection on delayed payments. Classification is based on investment and turnover.
TCS on Foreign Remittance (LRS)
Tax collected at source on certain outward remittances under India's Liberalised Remittance Scheme and on overseas tour packages, at rates that depend on the purpose and amount. It is credited against the remitter's tax.
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