21 June 2024
Question 1. Is TDS applicable on amount received as compensation by a tenant on surrender of his tenancy rights? Profile Image Ans> TDS not attracted but the income will taxable under the Head Income from other.
Question 2. Please clarify if the income is taxable what will be tds rate in case of super senior citizen and whether he can invest entire tax amount in some Government bonds tax saving bonds OR is there any threshold limit . Suppose assume if Mr.A receives compensation of say Rs.20,00,000/- what will be his tds liability and how much he can invest in Govt.bonds. Please advise.
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