Income form any service which not have tds & st payable

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26 September 2012 Pls., Infom any souces of Income form any Service which not have TDS & ST liabilities

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Manish Thakkar

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26 September 2012 income from agriculture activities in india

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26 September 2012 in case of Company it not hold any agricuilture Land Pls., provied any other souces

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Asha Kanta Sharma

Asha Kanta Sharma

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29 July 2024 In India, various sources of income and types of services are subject to different taxation rules, including TDS (Tax Deducted at Source) and Service Tax (pre-GST regime) or GST (Goods and Services Tax, post-GST regime). Here’s a breakdown of sources of income from services that might not attract TDS or Service Tax/GST:

### **1. **Sources of Income from Services Not Subject to TDS**

**1. **Certain Types of Income Exempt from TDS:**
- **Interest on Savings Accounts:** Under Section 10(15)(i) of the Income Tax Act, interest on savings accounts up to ₹10,000 (or ₹50,000 for senior citizens) is exempt from tax. There’s no TDS on this income.
- **Agricultural Income:** Income from agricultural activities is exempt from income tax and hence, not subject to TDS.
- **Income from Lottery Winnings:** Winnings from lotteries, games, or puzzles are subject to tax but not TDS if the payer is an individual.

**2. **Income from Foreign Services:**
- **Services Rendered Outside India:** Income earned by providing services outside India might not attract TDS if the payment is made by a non-resident entity and no income is deemed to accrue or arise in India.

**3. **Certain Government Payments:**
- **Exempt Government Payments:** Some payments made by government agencies for specific services may be exempt from TDS. However, this depends on the nature of the payment and the specific provisions of the law.

### **2. **Services Not Subject to Service Tax (Pre-GST) or GST (Post-GST)**

**1. **Services Exempt from Service Tax (Pre-GST):**
- **Educational Services:** Services provided by educational institutions up to a certain level were exempt from service tax.
- **Healthcare Services:** Services provided by hospitals and medical practitioners were generally exempt from service tax.

**2. **Services Exempt from GST (Post-GST):**
- **Healthcare Services:** Services provided by hospitals or medical institutions for diagnosis or treatment of illness are exempt from GST.
- **Educational Services:** Services provided by educational institutions or courses up to a certain level are exempt from GST.
- **Agricultural Services:** Certain services related to agriculture, like services by way of planting and cultivation of crops, are exempt from GST.
- **Public Services:** Certain services provided by the government or local authorities, such as municipal services, are exempt from GST.

### **3. **Income from Services with No TDS or GST Liabilities**

**1. **Dividend Income:**
- Dividends received from investments in shares are not subject to TDS if the total dividend amount is below the specified threshold. However, dividends are subject to tax under the head "Income from Other Sources" as per the Income Tax Act.

**2. **Gifts Received:**
- Income in the form of gifts (subject to certain conditions) is not subject to TDS. However, gifts received exceeding ₹50,000 are taxable under the head "Income from Other Sources."

**3. **Income from Certain Insurance Policies:**
- Payouts received from certain insurance policies might be exempt from tax, depending on the nature of the policy and the circumstances of the payout.

### **Important Considerations:**

- **Verification of Exemptions:** It’s crucial to verify the specific exemptions or non-applicability of TDS/GST with current legal provisions, as these may change with amendments to tax laws.
- **Documentation and Compliance:** Ensure that proper documentation is maintained to substantiate the exemption from TDS or GST, including contracts, invoices, and relevant correspondence.
- **Consultation with Tax Professionals:** Always consult a tax professional or financial advisor to understand the applicability of TDS/GST to your specific situation and ensure compliance with current tax regulations.

### **Conclusion:**

Certain types of income or services may not attract TDS or GST, but it is essential to confirm the specifics based on the most recent tax laws and exemptions. Always keep abreast of changes in tax legislation to ensure accurate compliance and avoid potential penalties.