@mudraforge/statutory 2.9.0 → 2.11.0

package/okf/direct_tax/tds_interest_194a/forms/form_26q_interest_schedule.json

@@ -0,0 +1,72 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Form 26Q Section 194A Quarterly TDS Schedule",
+  "description": "Statutory reporting schedule for interest payments other than interest on securities under Section 194A",
+  "type": "object",
+  "required": [
+    "deductorTan",
+    "financialYear",
+    "quarter",
+    "deducteePan",
+    "sectionCode",
+    "amountCreditedOrPaid",
+    "dateOfPaymentOrCredit",
+    "rateOfTds",
+    "tdsDeducted",
+    "challanDetails"
+  ],
+  "properties": {
+    "deductorTan": {
+      "type": "string",
+      "pattern": "^[A-Z]{4}[0-9]{5}[A-Z]{1}$"
+    },
+    "financialYear": {
+      "type": "string"
+    },
+    "quarter": {
+      "type": "string",
+      "enum": ["Q1", "Q2", "Q3", "Q4"]
+    },
+    "deducteePan": {
+      "type": "string",
+      "pattern": "^[A-Z]{5}[0-9]{4}[A-Z]{1}$"
+    },
+    "sectionCode": {
+      "type": "string",
+      "enum": ["194A", "94A"]
+    },
+    "amountCreditedOrPaid": {
+      "type": "number",
+      "minimum": 0
+    },
+    "dateOfPaymentOrCredit": {
+      "type": "string",
+      "pattern": "^\\d{4}-\\d{2}-\\d{2}$"
+    },
+    "rateOfTds": {
+      "type": "number"
+    },
+    "tdsDeducted": {
+      "type": "number",
+      "minimum": 0
+    },
+    "isMsmePenalInterest": {
+      "type": "boolean",
+      "description": "Flag indicating whether payment represents Section 16 MSMED interest"
+    },
+    "reasonForLowerOrNonDeduction": {
+      "type": "string",
+      "enum": ["A", "B", "C", "Y", "S", "NONE"],
+      "description": "A: Lower deduction u/s 197, B: 15G/15H, C: 197A(1F), Y: Threshold exempt, NONE: Standard"
+    },
+    "challanDetails": {
+      "type": "object",
+      "required": ["bsrCode", "dateOfChallan", "challanSerialNumber"],
+      "properties": {
+        "bsrCode": { "type": "string", "pattern": "^[0-9]{7}$" },
+        "dateOfChallan": { "type": "string", "pattern": "^\\d{4}-\\d{2}-\\d{2}$" },
+        "challanSerialNumber": { "type": "string" }
+      }
+    }
+  }
+}

package/okf/direct_tax/tds_interest_194a/section.json

@@ -0,0 +1,64 @@
+{
+  "sectionId": "ITA1961_SEC194A",
+  "sectionCode": "194A",
+  "aliases": [
+    "194A",
+    "194a",
+    "sec194a",
+    "section 194a",
+    "interest tds",
+    "tds on interest",
+    "loan interest tds",
+    "unsecured loan interest",
+    "vendor interest tds"
+  ],
+  "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
+  "statutorySection": "Section 194A",
+  "successorStatute": "Income-tax Act, 2025",
+  "successorSection": "Section 393(1), Table 4, Item (i)",
+  "title": "Deduction of tax at source on payment of interest other than interest on securities",
+  "effectivePeriod": {
+    "validFrom": "1967-04-01",
+    "validTo": "2026-03-31",
+    "annualReset": "Every April 1 (Cumulative Interest Resets Annually)",
+    "sunsetNotes": "Transitions to Section 393(1) Table 4 Item (i) of the Income-tax Act, 2025 effective 1 April 2026."
+  },
+  "plainTextSummary": "Any person (other than an individual or HUF not liable to audit under Section 44AB in the preceding FY) responsible for paying any income by way of interest other than 'Interest on securities' to a resident payee must deduct 10% tax at source. Statutory Annual Thresholds: (a) ₹40,000 where payer is a banking company, co-operative bank, or post office (₹50,000 if payee is a resident Senior Citizen u/s 80TTB); (b) ₹5,000 for all other payers (e.g. corporate borrowers, vendor trade delayed interest, inter-corporate deposits, NBFC interest). Under Section 206AA, if payee PAN is missing or inoperative, tax is deductible at 20%. Section 194A(3) provides specific exemptions for interest paid to banks, financial corporations, and interest paid by a firm to its partners. Notice: Penal interest paid under Section 16 of the MSMED Act to Micro & Small enterprises is subject to 194A withholding if exceeding ₹5,000, and is non-deductible (statutory add-back to taxable income) under Section 23 of the MSMED Act.",
+  "keyStatutoryThresholds": {
+    "commercialPayerAnnualThresholdInr": 5000,
+    "bankCooperativePayerAnnualThresholdInr": 40000,
+    "seniorCitizenBankPayerThresholdInr": 50000,
+    "standardDeductionRatePercent": 10,
+    "nonCompliantPanPenaltyRatePercent": 20,
+    "msmeSection16Interaction": "MSME Section 16 delayed payment penal interest is subject to Section 194A withholding if exceeding ₹5,000 in a FY, and must be permanently added back to taxable income under Section 23 of the MSMED Act."
+  },
+  "officialCitations": [
+    {
+      "authority": "Ministry of Law & Justice / CBDT",
+      "instrument": "Section 194A, Income-tax Act, 1961",
+      "subject": "Deduction of tax at source on interest other than interest on securities",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    },
+    {
+      "authority": "Parliament of India / Ministry of Finance",
+      "instrument": "Income-tax Act, 2025 Section 393(1), Table 4, Item (i)",
+      "subject": "TDS on interest other than interest on securities under new Direct Tax Code",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    },
+    {
+      "authority": "Central Board of Direct Taxes (CBDT)",
+      "instrument": "Circular No. 03 of 2010 (Dated 02 March 2010)",
+      "subject": "Instruction on TDS deduction on interest payments",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/communications/circulars.aspx?year=2010"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Loan Agreement / Inter-Corporate Deposit (ICD) Term Sheet or Vendor Invoice with interest clause",
+    "Payee PAN verification on Income Tax e-filing portal",
+    "Cumulative Interest Ledger for current FY establishing date threshold of ₹5,000 (or ₹40,000 for banks) was crossed",
+    "Form 15G / Form 15H declaration (if payee claims NIL deduction)",
+    "Lower deduction certificate under Section 197 / Section 395 (if payee provides certificate)"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.10.0"
+}

package/okf/direct_tax/tds_perquisites_194r/forms/form_26q_perquisites_schedule.json

@@ -0,0 +1,83 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Form 26Q Section 194R Benefit or Perquisite TDS Schedule",
+  "description": "Statutory quarterly compliance schedule for reporting tax deducted at source on benefits or perquisites under Section 194R",
+  "type": "object",
+  "required": [
+    "providerTan",
+    "financialYear",
+    "quarter",
+    "recipientPan",
+    "benefitNature",
+    "grossValueOfBenefitInr",
+    "dateOfProvisionOrPayment",
+    "rateOfTdsPercent",
+    "tdsAmountInr"
+  ],
+  "properties": {
+    "providerTan": {
+      "type": "string",
+      "pattern": "^[A-Z]{4}[0-9]{5}[A-Z]{1}$"
+    },
+    "financialYear": {
+      "type": "string",
+      "pattern": "^20[2-9][0-9]-20[2-9][0-9]$"
+    },
+    "quarter": {
+      "type": "string",
+      "enum": ["Q1", "Q2", "Q3", "Q4"]
+    },
+    "recipientPan": {
+      "type": "string",
+      "pattern": "^[A-Z]{5}[0-9]{4}[A-Z]{1}$"
+    },
+    "recipientName": {
+      "type": "string"
+    },
+    "benefitNature": {
+      "type": "string",
+      "enum": ["CASH", "IN_KIND", "PARTLY_CASH_PARTLY_KIND"]
+    },
+    "benefitCategory": {
+      "type": "string",
+      "enum": [
+        "DEALER_INCENTIVE_TRIP",
+        "SALES_CONFERENCE_EXCESS",
+        "CAPITAL_ASSET_TRANSFER",
+        "PRODUCT_SAMPLE_COMMERCIAL",
+        "GIFT_VOUCHER_OR_GOLD",
+        "SPONSORSHIP_PERK",
+        "OTHER_BUSINESS_BENEFIT"
+      ]
+    },
+    "grossValueOfBenefitInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "dateOfProvisionOrPayment": {
+      "type": "string",
+      "pattern": "^\\d{4}-\\d{2}-\\d{2}$"
+    },
+    "rateOfTdsPercent": {
+      "type": "number",
+      "enum": [0.0, 10.0, 20.0]
+    },
+    "tdsAmountInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "isAdvanceTaxChallanVerified": {
+      "type": "boolean",
+      "description": "Mandatory true if benefit was provided in kind and provider ensured advance tax discharge before release"
+    },
+    "inKindAdvanceTaxChallan": {
+      "type": "object",
+      "properties": {
+        "bsrCode": { "type": "string", "pattern": "^[0-9]{7}$" },
+        "dateOfChallan": { "type": "string", "pattern": "^\\d{4}-\\d{2}-\\d{2}$" },
+        "challanSerialNumber": { "type": "string" },
+        "challanAmountInr": { "type": "number", "minimum": 0 }
+      }
+    }
+  }
+}

package/okf/direct_tax/tds_perquisites_194r/section.json

@@ -50,5 +50,5 @@
     "Company annual dealer / channel incentive scheme documentation"
   ],
   "tier": "PUBLIC_COMMONS_FREE",
-  "version": "2.6.0"
+  "version": "2.11.0"
 }

package/okf/direct_tax/tds_property_194ia/circulars/cbdt_notification_67_2022_property_tds.md

@@ -0,0 +1,57 @@
+---
+id: cbdt-notification-67-2022-property-tds
+title: Income-tax (Fourth Amendment) Rules, 2022 (Notification No. 67/2022)
+authority: Central Board of Direct Taxes (CBDT)
+date: 2022-06-21
+statutory_section: Section 194-IA
+valid_from: 2022-04-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://www.incometaxindia.gov.in/communications/notification/notification_67_2022.pdf
+---
+
+# Central Board of Direct Taxes: Notification No. 67/2022 (Fourth Amendment Rules, 2022)
+
+**Notification Reference**: Notification No. 67/2022 / F.No. 370142/19/2022-TPL  
+**Issuing Authority**: Central Board of Direct Taxes, Ministry of Finance, Government of India  
+**Date of Gazette Notification**: 21 June 2022 (effective 1 April 2022)  
+**Governing Provisions**: Section 194-IA read with Section 295 of the Income-tax Act, 1961; Rules 30 and 31A; Form 26QB  
+
+---
+
+## 1. Statutory Amendment Context (Finance Act, 2022)
+
+Prior to the Finance Act, 2022, tax deduction at source under Section 194-IA was computed strictly on the contractual consideration agreed between the transferee and transferor. Sub-section (1) and sub-section (2) of Section 194-IA were amended by the Finance Act, 2022 w.e.f. 1 April 2022 to align the tax withholding base with the anti-abuse provisions of Section 43CA and Section 50C.
+
+Under the amended law:
+1. **Taxable Withholding Base**:
+   - The transferee is obligated to deduct 1.0% tax at source on the **sum of consideration or the Stamp Duty Value (SDV) of such property, whichever is higher**.
+2. **De Minimis Threshold (Section 194-IA(2))**:
+   - No deduction is made where **both** the consideration for the transfer of an immovable property **and** the stamp duty value of such property are less than INR 50,00,000.
+   - If either the contractual consideration or the stamp duty value reaches or exceeds INR 50,00,000, Section 194-IA is triggered on the greater of the two figures.
+
+---
+
+## 2. Amendments to Income-tax Rules & Form 26QB
+
+Notification No. 67/2022 amended Appendix II to the Income-tax Rules, 1962, substituting a comprehensive electronic Form 26QB (Challan-cum-statement of deduction of tax under Section 194-IA):
+
+- **Separate Reporting of Consideration and Stamp Duty Value**: Form 26QB mandates separate line-item disclosure of the contractual sales consideration and the stamp duty valuation determined by the state stamp valuation authority (Sub-Registrar).
+- **Incidental Transfer Charges Breakdown**: By virtue of the Explanation to Section 194-IA inserted by Finance Act, 2019, the contractual consideration must explicitly incorporate:
+  - Club membership fees
+  - Car parking allotment charges
+  - Electricity, water, and power back-up facility charges
+  - Advance maintenance charges
+  - Sinking fund / corpus fund contributions
+  - Any other charges incidental to the transfer of the immovable property.
+- **Installment-Based Withholding**: Where payment is made in installments across construction milestones, TDS must be deducted on each installment. Where the total property SDV exceeds the total contractual consideration, the incremental tax is apportioned across remaining installments.
+
+---
+
+## 3. Compliance Timelines & Failure Consequences
+
+| Requirement | Statutory Rule | Statutory Deadline | Penalty for Non-Compliance |
+| :--- | :--- | :--- | :--- |
+| **Form 26QB Electronic Filing** | Rule 30(2C) & Rule 31A(4C) | Within 30 days from the end of the month in which deduction is made | Fee of INR 200/day under Section 234E; Penalty up to tax amount under Section 271H |
+| **Form 16B Certificate Issuance** | Rule 31(1)(b) | Within 15 days from the due date for furnishing Form 26QB | Penalty of INR 500/day under Section 272A(2)(g) |
+| **Missing / Inoperative PAN** | Section 206AA | At time of credit or payment | Mandatory higher rate of 20.0% TDS |

package/okf/direct_tax/tds_property_194ia/forms/form_26qb_property_tds_challan.json

@@ -0,0 +1,43 @@
+{
+  "formId": "FORM_26QB",
+  "title": "Challan-cum-statement of deduction of tax under Section 194-IA of the Income-tax Act, 1961",
+  "applicableSectionCode": "194-IA",
+  "governingRule": "Income-tax Rules, 1962 (Rule 30(2C) & Rule 31A(4C))",
+  "filingFrequency": "TRANSACTION_OR_INSTALLMENT_SPECIFIC",
+  "statutoryDueWindow": "Within thirty days from the end of the month in which the deduction is made",
+  "officialSourceUrl": "https://www.incometaxindia.gov.in/forms/income-tax-rules/form26qb.pdf",
+  "buyerTransfereeDetails": [
+    "PERMANENT_ACCOUNT_NUMBER_PAN_BUYER",
+    "AADHAAR_NUMBER_OR_ENROLLMENT_ID",
+    "FULL_NAME_AND_CATEGORY_INDIVIDUAL_CORPORATE",
+    "RESIDENTIAL_OR_REGISTERED_OFFICE_ADDRESS",
+    "MOBILE_NUMBER_AND_EMAIL_ID",
+    "CO_OWNERSHIP_SHARE_PERCENTAGE_IF_APPLICABLE"
+  ],
+  "sellerTransferorDetails": [
+    "PERMANENT_ACCOUNT_NUMBER_PAN_SELLER",
+    "AADHAAR_LINKED_STATUS_CHECK_SECTION_206AA",
+    "FULL_NAME_AND_RESIDENTIAL_STATUS_RESIDENT_REQUIRED",
+    "SELLER_ADDRESS_AND_CONTACT_DETAILS",
+    "CO_OWNERSHIP_SHARE_PERCENTAGE_IF_APPLICABLE"
+  ],
+  "propertyAndValuationParticulars": [
+    "PROPERTY_TYPE_LAND_BUILDING_RESIDENTIAL_COMMERCIAL",
+    "COMPLETE_ADDRESS_OF_PROPERTY_INCLUDING_PIN_CODE",
+    "DATE_OF_AGREEMENT_OR_BOOKING",
+    "DATE_OF_PAYMENT_OR_CREDIT",
+    "CONTRACTUAL_SALES_CONSIDERATION_INR",
+    "STAMP_DUTY_VALUE_SDV_ASSESSED_BY_SUB_REGISTRAR_INR",
+    "HIGHER_OF_CONSIDERATION_OR_SDV_TAXABLE_BASE_INR",
+    "BREAKDOWN_OF_INCIDENTAL_CHARGES_PARKING_CLUB_MAINTENANCE_INR",
+    "PAYMENT_TYPE_LUMP_SUM_OR_INSTALLMENT_NUMBER"
+  ],
+  "taxDeductionAndChallanPayment": [
+    "APPLICABLE_TDS_RATE_PERCENT_1_OR_20_PENALTY",
+    "TOTAL_TDS_DEDUCTED_INR",
+    "MAJOR_HEAD_0020_OR_0021",
+    "MINOR_HEAD_800_TDS_ON_SALE_OF_PROPERTY",
+    "MODE_OF_PAYMENT_NET_BANKING_DEBIT_CARD_NEFT_RTGS",
+    "CHALLAN_IDENTIFICATION_NUMBER_CIN_OR_BSR_CODE_AND_TENDER_DATE"
+  ]
+}

package/okf/direct_tax/tds_property_194ia/section.json

@@ -0,0 +1,73 @@
+{
+  "sectionId": "ITA1961_SEC194IA",
+  "sectionCode": "194-IA",
+  "aliases": [
+    "194-IA",
+    "194IA",
+    "sec194ia",
+    "tds property",
+    "property tds",
+    "form 26qb",
+    "form 16b",
+    "stamp duty value tds"
+  ],
+  "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
+  "statutorySection": "Section 194-IA",
+  "successorStatute": "Income-tax Act, 2025",
+  "successorSection": "Section 393(1) Table 4 Item (q)",
+  "title": "Payment on Transfer of Certain Immovable Property Other than Agricultural Land (Section 194-IA)",
+  "effectivePeriod": {
+    "validFrom": "2013-06-01",
+    "validTo": "2026-03-31",
+    "annualReset": "Transaction-based property transfer determination",
+    "sunsetNotes": "Section 194-IA introduced by Finance Act, 2013 w.e.f. 1-6-2013. Amended by Finance Act, 2019 (expanding consideration to club fees, car parking, maintenance) and Finance Act, 2022 (mandating TDS on higher of consideration or Stamp Duty Value w.e.f. 1-4-2022). Continues under Income-tax Act, 1961 until 31 March 2026, transitioning to Section 393(1) Table 4 Item (q) of Income-tax Act, 2025 w.e.f. 1 April 2026."
+  },
+  "plainTextSummary": "Section 194-IA of the Income-tax Act, 1961 requires any transferee (buyer) responsible for paying to a resident transferor (seller) any sum by way of consideration for the transfer of any immovable property (other than agricultural land) to deduct income tax at source at the rate of 1.0%. Under the Finance Act, 2022 amendment w.e.f. 1 April 2022, tax is deductible on the gross consideration or the Stamp Duty Value (SDV) adopted by the stamp valuation authority, whichever is higher. No deduction is required where both the consideration and the stamp duty value are less than INR 50,00,000. If either the consideration or the stamp duty value reaches or exceeds INR 50,00,000, TDS is applicable on the higher amount. By virtue of the Explanation to Section 194-IA inserted by Finance Act, 2019, 'consideration for transfer of any immovable property' includes all charges of the nature of club membership fee, car parking fee, electricity or water facility fee, maintenance fee, advance fee, or any other charges of similar nature, which are incidental to the transfer of the immovable property. Unlike standard corporate TDS which requires a Tax Deduction Account Number (TAN), deduction under Section 194-IA is PAN-based: the transferee is not required to obtain a TAN and furnishes the challan-cum-statement in Form 26QB online using the buyer's and seller's PANs within 30 days from the end of the month in which deduction was made. The buyer must subsequently issue TDS certificate Form 16B to the seller within 15 days of Form 26QB filing. Where the seller fails to furnish a valid PAN or has an inoperative PAN, the mandatory penalty withholding floor is 20% under Section 206AA. Under the Income-tax Act, 2025 (effective 1 April 2026), Section 194-IA transitions to Section 393(1) Table 4 Item (q).",
+  "keyStatutoryThresholds": {
+    "standardDeductionRatePercent": 1.0,
+    "monetaryCeilingDeMinimisInr": 5000000,
+    "taxableBaseRule": "Higher of contractual consideration or Stamp Duty Value (SDV)",
+    "incidentalChargesIncludedInConsideration": [
+      "CLUB_MEMBERSHIP_FEE",
+      "CAR_PARKING_FEE",
+      "ELECTRICITY_WATER_FACILITY_FEE",
+      "MAINTENANCE_ADVANCE_FEE",
+      "DEVELOPMENT_CHARGES"
+    ],
+    "missingPanPenaltyRatePercent": 20.0,
+    "tanRequirementExempt": true,
+    "challanCumStatementForm": "Form 26QB",
+    "challanFilingCutoffDays": 30,
+    "tdsCertificateForm": "Form 16B",
+    "agriculturalLandExempt": true
+  },
+  "officialCitations": [
+    {
+      "authority": "Income Tax Department, Ministry of Finance",
+      "instrument": "Section 194-IA, Income-tax Act, 1961",
+      "subject": "Payment on transfer of certain immovable property other than agricultural land",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    },
+    {
+      "authority": "Central Board of Direct Taxes (CBDT)",
+      "instrument": "Notification No. 30/2016 (F.No. 142/29/2015-TPL, Dated 29 April 2016)",
+      "subject": "Rules 30 and 31A for furnishing challan-cum-statement in Form 26QB within 30 days",
+      "officialUrl": "https://www.incometaxindia.gov.in/communications/notification/notification302016.pdf"
+    },
+    {
+      "authority": "Central Board of Direct Taxes (CBDT)",
+      "instrument": "Income-tax (Fourth Amendment) Rules, 2022 (Notification No. 67/2022, Dated 21 June 2022)",
+      "subject": "Amendment of Form 26QB to incorporate Stamp Duty Value and incidental property charges under Finance Act 2022",
+      "officialUrl": "https://www.incometaxindia.gov.in/communications/notification/notification_67_2022.pdf"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Registered Sale Deed or Agreement to Sell specifying consideration and incidental charges",
+    "Stamp Duty Valuation Certificate or Circle Rate assessment order from Sub-Registrar Office",
+    "Verification of PAN and Aadhaar link status of seller on e-filing portal",
+    "Electronic Challan-cum-Statement in Form 26QB filed on TIN-NSDL / Protean / Income Tax portal",
+    "Form 16B TDS Certificate downloaded from TRACES and furnished to transferor"
+  ],
+  "tier": "STANDARD_FREE",
+  "version": "0.2.0"
+}

package/okf/direct_tax/tds_rent_individual_194ib/circulars/finance_act_2024_rent_rate_cut_memo.md

@@ -0,0 +1,24 @@
+---
+id: finance_act_2024_rent_rate_cut_memo
+title: Reduction of Rate of Tax Deduction at Source on Payment of Rent under Section 194-IB
+authority: Ministry of Finance / Central Board of Direct Taxes (CBDT)
+date: 2024-08-16
+statutory_section: 194-IB
+valid_from: 2024-10-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx
+---
+
+# Finance (No. 2) Act, 2024 — Section 194-IB Rate Rationalization
+
+## 1. Statutory Background
+Section 194-IB of the Income-tax Act, 1961 requires individuals and HUFs (not covered under Section 194-I tax audit thresholds) paying rent exceeding INR 50,000 per month or part of a month to deduct TDS.
+
+## 2. Rate Rationalization
+To rationalize TDS rates and ease compliance burdens on individual tenants:
+- Prior Rate (Pre-1 October 2024): 5.0%
+- Amended Rate (W.e.f. 1 October 2024): 2.0%
+
+## 3. Statutory Ceiling on Section 206AA
+Per Section 194-IB(4), where Section 206AA applies due to failure by the lessor to furnish a valid PAN, the tax deducted shall not exceed the amount of rent payable for the last month of the previous year or tenancy.

package/okf/direct_tax/tds_rent_individual_194ib/forms/form_26qc_challan_cum_statement.json

@@ -0,0 +1,74 @@
+{
+  "$schema": "https://json-schema.org/draft/2020-12/schema",
+  "title": "Form 26QC Section 194-IB Rent Challan-Cum-Statement",
+  "description": "Statutory return and challan-cum-statement for payment of tax deducted on rent by individuals/HUFs under Section 194-IB",
+  "type": "object",
+  "required": [
+    "financialYear",
+    "tenantPan",
+    "landlordPan",
+    "propertyAddress",
+    "tenancyPeriodMonths",
+    "monthlyRentInr",
+    "totalRentPaidOrCreditedInr",
+    "dateOfCreditOrPayment",
+    "rateOfTdsPercent",
+    "tdsDeductedInr"
+  ],
+  "properties": {
+    "financialYear": {
+      "type": "string",
+      "pattern": "^20[2-9][0-9]-20[2-9][0-9]$"
+    },
+    "tenantPan": {
+      "type": "string",
+      "pattern": "^[A-Z]{5}[0-9]{4}[A-Z]{1}$"
+    },
+    "landlordPan": {
+      "type": "string",
+      "pattern": "^[A-Z]{5}[0-9]{4}[A-Z]{1}$"
+    },
+    "propertyAddress": {
+      "type": "string"
+    },
+    "tenancyPeriodMonths": {
+      "type": "number",
+      "minimum": 1,
+      "maximum": 12
+    },
+    "monthlyRentInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "totalRentPaidOrCreditedInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "dateOfCreditOrPayment": {
+      "type": "string",
+      "pattern": "^\\d{4}-\\d{2}-\\d{2}$"
+    },
+    "rateOfTdsPercent": {
+      "type": "number",
+      "enum": [0.0, 2.0, 5.0, 20.0]
+    },
+    "tdsDeductedInr": {
+      "type": "number",
+      "minimum": 0
+    },
+    "lastMonthRentPayableCeilingInr": {
+      "type": "number",
+      "minimum": 0,
+      "description": "Statutory ceiling under Section 194-IB(4) for Section 206AA penalty deduction"
+    },
+    "challanDetails": {
+      "type": "object",
+      "properties": {
+        "bsrCode": { "type": "string", "pattern": "^[0-9]{7}$" },
+        "dateOfChallan": { "type": "string", "pattern": "^\\d{4}-\\d{2}-\\d{2}$" },
+        "challanSerialNumber": { "type": "string" },
+        "cin": { "type": "string" }
+      }
+    }
+  }
+}

package/okf/direct_tax/tds_rent_individual_194ib/section.json

@@ -0,0 +1,57 @@
+{
+  "sectionId": "ITA1961_SEC194IB",
+  "sectionCode": "194-IB",
+  "aliases": [
+    "194-IB",
+    "194IB",
+    "sec194ib",
+    "section 194ib",
+    "rent tds individual",
+    "form 26qc",
+    "form 16c",
+    "residential rent tds"
+  ],
+  "governingStatute": "Income-tax Act, 1961 (Act No. 43 of 1961)",
+  "statutorySection": "Section 194-IB",
+  "successorStatute": "Income-tax Act, 2025",
+  "successorSection": "Section 393(1), Table 5, Item (ib)",
+  "title": "Payment of Rent by Certain Individuals or Hindu Undivided Family (Section 194-IB)",
+  "effectivePeriod": {
+    "validFrom": "2017-06-01",
+    "validTo": "2026-03-31",
+    "annualReset": "Every April 1 (Cumulative Monthly Threshold)",
+    "sunsetNotes": "Transitions to Section 393(1) of the Income-tax Act, 2025 effective 1 April 2026."
+  },
+  "plainTextSummary": "Any person, being an individual or a Hindu undivided family (other than those referred to in the second proviso to section 194-I), responsible for paying to a resident any income by way of rent exceeding fifty thousand rupees for a month or part of a month during the previous year, shall deduct an amount equal to 2% (reduced from 5% w.e.f. 1 October 2024 by Finance (No. 2) Act, 2024) of such income as income-tax thereon. Deduction is made at the time of credit of rent for the last month of previous year or last month of tenancy, or at the time of payment, whichever is earlier. Section 194-IB(4) mandates that deduction under Section 206AA shall not exceed the rent payable for the last month of the tenancy.",
+  "keyStatutoryThresholds": {
+    "monthlyRentThresholdInr": 50000,
+    "historicalRatePercent": 5,
+    "amendedRatePercent": 2,
+    "rateAmendmentEffectiveDate": "2024-10-01",
+    "inoperativePanPenaltyCeiling": "Under Section 194-IB(4), deduction under Section 206AA (20%) is capped at the rent payable for the last month of the previous year or tenancy.",
+    "tanRequirement": "No TAN required. Filing is executed using PAN via Challan-cum-statement Form 26QC."
+  },
+  "officialCitations": [
+    {
+      "authority": "Central Board of Direct Taxes (CBDT)",
+      "instrument": "Notification No. 61/2017 / Rule 30(2B)",
+      "subject": "Form 26QC challan-cum-statement and Form 16C TDS certificate under Section 194-IB",
+      "officialUrl": "https://www.incometaxindia.gov.in/communications/notification/notification61_2017.pdf"
+    },
+    {
+      "authority": "Ministry of Finance",
+      "instrument": "Finance (No. 2) Act, 2024 Memo",
+      "subject": "Reduction of TDS rate under Section 194-IB from 5% to 2% effective 1 October 2024",
+      "officialUrl": "https://www.incometaxindia.gov.in/pages/acts/income-tax-act.aspx"
+    }
+  ],
+  "requiredDocumentChecklist": [
+    "Residential / Commercial Lease or Tenancy Agreement",
+    "Permanent Account Number (PAN) of Landlord (Lessor)",
+    "Permanent Account Number (PAN) of Tenant (Lessee)",
+    "Form 26QC Challan-cum-statement payment acknowledgement",
+    "Form 16C TDS Certificate issued to Landlord"
+  ],
+  "tier": "PUBLIC_COMMONS_FREE",
+  "version": "2.11.0"
+}

package/okf/indirect_tax_gst/itc_reversal_rule37_37a/circulars/cbic_notification_19_2022_rule37.md

@@ -0,0 +1,31 @@
+---
+id: cbic_notification_19_2022_rule37
+title: CBIC Notification No. 19/2022-Central Tax — Substitution of Rule 37 (180-Day ITC Reversal)
+authority: Central Board of Indirect Taxes and Customs (CBIC)
+date: 2022-09-28
+statutory_section: Section 16(2) read with Rule 37
+valid_from: 2022-10-01
+valid_to: OPEN_ENDED
+temporal_status: ACTIVE
+official_url: https://taxinformation.cbic.gov.in/view-pdf/1009511/ENG/Notifications
+---
+
+# CBIC Notification No. 19/2022-Central Tax: Amendment to Rule 37 of CGST Rules, 2017
+
+## 1. Statutory Background
+Under the second proviso to Section 16(2) of the Central Goods and Services Tax Act, 2017, a registered person who avails input tax credit on any supply of goods or services is required to pay the supplier the value of supply along with tax within 180 days from the date of issue of invoice.
+
+## 2. Substituted Rule 37 (Effective 1 October 2022)
+Notification No. 19/2022-Central Tax substituted Rule 37(1) to state:
+* Where a recipient fails to pay the supplier within 180 days, the recipient shall reverse an amount equal to the input tax credit proportionate to the unpaid amount.
+* The reversal shall be furnished in Form GSTR-3B for the tax period immediately following the expiry of 180 days.
+* Interest under Section 50(1) at the rate of 18% per annum is payable from the date of availing such credit till the date of payment/reversal.
+
+## 3. Statutory Exemptions
+The 180-day reversal condition does NOT apply to:
+1. Supplies on which tax is payable under Reverse Charge Mechanism (RCM) under Section 9(3) or Section 9(4).
+2. Supplies deemed to have been made without consideration under Schedule I of the CGST Act.
+3. Additions made to the value of supply on account of payments made by the recipient on behalf of the supplier under Section 15(2)(b).
+
+## 4. Re-availment
+Upon subsequent payment of the consideration to the supplier, the recipient can re-avail the reversed input tax credit in Form GSTR-3B. The statutory time restriction under Section 16(4) does not apply to re-availment of credit reversed under Rule 37.