Income Tax Updates With effect from 1 June 2015

Income Tax UPDATES With effect from 1 June 2015

Income Tax Updates : Effective TODAY (01.06.2015),

Following Changes are applicable:

# Bank / PO to deduct TDS on RD if interest more than 10000/- PA. # Immovable property Transaction for Rs.20,000/- or more to be made by cheque / banking channel only # Payment exceeding Rs.1 Lac, PAN is required to be quoted. # Payment to Transporter exceeding Rs.30,000/- or Rs.75,000/- per annum, TDS to be deducted if vehicle is not owned and no declaration filed for less than 10 vehicles as owner # All Payment to Non residents/ Foreign Companies, Etc., Form # 15CA & 15CB required including import of material payments