Nishant Yadav

🌱 Mindset is everything — let’s boost it.

[Nishant Yadav @canishant001]

“Income Tax Department: No extension, file your ITR on time.
Portal: Error 404 since forever 🤦‍♂️😂
Aur iske liye… Nehru ji zimmedar hain! 😂😂”
@IncomeTaxIndia @nsitharaman @PMOIndia

[Nishant Yadav @canishant001]

Filing ITR on the Income Tax site feels like a punishment for being a responsible citizen. 🥲
#IncomeTax #ITR #TaxPayers #IncomeTaxIndia #ITRfiling #TaxSeason #ITRissues #TaxFiling #DigitalIndia #TaxCompliance

[Nishant Yadav @canishant001]

https://t.co/Jj1VMbaX3b

[Nishant Yadav @canishant001]

🔍 What is Section 195?

Section 195 mandates that any person (resident or non-resident) responsible for paying to a non-resident (not being a company or a foreign company) any interest or any other sum chargeable under the Act (excluding salaries) shall deduct income tax (TDS) at the time of payment or credit, whichever is earlier.

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🧾 Applicability

It applies when:

Payment is made to a non-resident or foreign company.

The sum is chargeable to tax under the Income Tax Act.

Payment includes interest, royalty, fees for technical services, or any other sum (excluding salaries).

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💰 Examples of Payments Covered

Interest (other than interest on securities)

Royalty or fees for technical services

Commission or brokerage

Professional or consultancy fees

Payments to foreign contractors

Payments for software, cloud services, hosting services (if taxable)

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🗓️ When to Deduct TDS?

TDS must be deducted at the earlier of the following:

At the time of credit of the amount to the payee's account

At the time of actual payment, in cash or by any other mode

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📉 TDS Rates Under Section 195

The TDS rates vary depending on the type of income. Key rates (plus surcharge and cess as applicable) are:

Nature of IncomeBase TDS Rate

Interest (other than 194LB/LC/LD)20%
Royalties10%
Fees for technical services10%
Capital gains (long term under sec. 112)10%
Capital gains (short term under sec. 111A)15%
Other income30%

> Note: The actual rate may vary if a DTAA (Double Taxation Avoidance Agreement) is applicable, provided the recipient furnishes a Tax Residency Certificate (TRC).

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🌐 Double Taxation Avoidance Agreement (DTAA)

India has DTAA agreements with various countries. The payer can deduct TDS at lower DTAA rates, if:

The non-resident furnishes a valid TRC

Form 10F and declaration of beneficial ownership are submitted

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🧾 Form 15CA & 15CB Requirement

For remittances to non-residents, the following forms are required:

Amount/Type of RemittanceForm Required

Taxable & exceeding ₹5 lakh/yearForm 15CA (Part C) + 15CB (from CA)
Taxable & below ₹5 lakh/yearForm 15CA (Part B)
Non-taxable under DTAA or lawForm 15CA (Part D)
Specified exempt payments (e.g., imports)Not required

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🔒 Application for Lower/Nil TDS

The payee can apply to the Assessing Officer in:

Form 13 to receive a certificate for lower or nil deduction

The AO will issue a certificate under Section 197

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📅 Due Date for TDS Deposit

TDS must be deposited within 7 days from the end of the month in which deduction is made.

For March deductions: 30th April of the following financial year.

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📝 TDS Return Filing

Must be filed quarterly in Form 27Q.

Due Dates:

Q1: 31st July

Q2: 31st October

Q3: 31st January

Q4: 31st May

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⚠️ Consequences of Non-Compliance

Disallowance of expense under Section 40(a)(i)

Interest under Section 201(1A) (1%/1.5% per month)

Penalty and prosecution

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✅ Key Takeaways

Section 195 aims to ensure TDS is deducted on foreign remittances that are taxable in India.

DTAA benefits can reduce the TDS burden.

Proper documentation and certifications (TRC, Form 15CB/15CA) are essential to avoid penalties.

[Nishant Yadav @canishant001]

Detailed Explanation of Section 194C – TDS on Payment to Contractors

Section 194C of the Indian Income Tax Act mandates Tax Deducted at Source (TDS) on payments made to contractors and sub-contractors for carrying out any work (including supply of labor). It ensures that taxes are collected at the time of payment to contractors.

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🔹 Who Is Required to Deduct TDS?

Individuals, HUFs (Hindu Undivided Families) – only if subject to tax audit under Section 44AB in the previous year

Companies

Firms

Local Authorities

Co-operative Societies

Government Bodies

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🔹 Who Receives the Payment?

Resident contractors or sub-contractors providing:

Works contracts

Supply of labor

Transport contracts (excluding cases where only transport of goods is done and the contractor owns ten or fewer goods carriages)

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🔹 What Type of Payments Are Covered?

Construction work

Advertising

Broadcasting and telecasting

Carriage of goods/passengers

Catering

Manufacturing or supplying a product according to the customer's specification

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🔹 TDS Rates under Section 194C

RecipientTDS Rate

Individual / HUF1%
Others (e.g., Company)2%

> Note: No TDS if payment does not exceed ₹30,000 for a single contract or ₹1,00,000 in a financial year (aggregate).

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🔹 Time of Deduction

TDS must be deducted at the time of payment or credit to the account, whichever is earlier.

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🔹 TDS Return Filing

Details of TDS deducted under Section 194C must be filed in Form 26Q.

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🔹 Important Exemptions

No TDS on payments to contractors owning not more than 10 goods carriages, if they provide a PAN.

No TDS if the payee is non-resident (Section 195 applies instead).

[Nishant Yadav @canishant001]

Here are seven common types of income that individuals can earn:

1. Earned Income

Money received from working a job or running a business.

Examples: Salary, wages, commissions, bonuses.

2. Profit Income

Income from buying and selling goods or services.

Examples: Business profits, freelancing, flipping items for profit.

3. Interest Income

Money earned from lending money or keeping funds in interest-bearing accounts.

Examples: Savings accounts, bonds, peer-to-peer lending.

4. Dividend Income

Payments made to shareholders from company profits.

Examples: Stocks that pay regular dividends.

5. Rental Income

Money earned from renting out property or assets.

Examples: Real estate rentals, vehicle rentals, equipment rentals.

6. Capital Gains

Profit made from the sale of an investment or asset.

Examples: Selling stocks, real estate, or collectibles at a higher price than purchased.

7. Royalty or Licensing Income

Money earned from allowing others to use your intellectual property.

Examples: Book royalties, music licensing, software licenses.

[Nishant Yadav @canishant001]

"The 7 Streams of Income Everyone Should Know"

[Nishant Yadav @canishant001]

The Income Tax Department has released the Excel utility versions and JSON schema for Income Tax Return (ITR) Forms 1 (Sahaj) and 4 (Sugam) for the Assessment Year 2025–26 (Financial Year 2024–25) on May 30, 2025. These tools are now available for download on the official income tax e-filing portal, enabling eligible taxpayers to begin preparing and filing their income tax returns.

[Nishant Yadav @canishant001]

Happiness = Reality – Expectations

This means:

When reality exceeds expectations, you're happy.

When expectations exceed reality, you're disappointed.

[Nishant Yadav @canishant001]

"A daughter is a miracle that never ceases to be miraculous."

"A daughter may outgrow your lap, but she will never outgrow your heart."

"To a father, she is his princess; to a mother, she is her reflection."

"A daughter’s love is a gift that warms the heart forever."
❤️❤️

[Nishant Yadav @canishant001]

@ParleFamily #daughterlove

[Nishant Yadav @canishant001]

Humans are great at generalizing from few examples; AI needs massive data.

A child can see a giraffe once, understand it’s an animal, and recognize different giraffes later, even drawn or toy versions.

An AI, by contrast, often needs thousands of labeled images of giraffes to reliably identify them—and still might get confused by a toy giraffe or a distorted picture.

[Nishant Yadav @canishant001]

"The scariest part about AI isn’t what it can do today — it’s what we’ll convince ourselves it can’t do tomorrow."

[Nishant Yadav @canishant001]

💯

[Nishant Yadav @canishant001]

What's yours view
Philosophers have long explored religious questions such as:

Does God exist? (e.g., ontological, cosmological, and moral arguments)

What is the nature of the divine? (e.g., omnipotence, omniscience, benevolence)

How can evil exist if God is good and all-powerful? (the "problem of evil")

What is faith? Can it be rational?

Thinkers like Thomas Aquinas, Immanuel Kant, Søren Kierkegaard, and Bertrand Russell have approached these questions from different angles—some in defense of religious belief, others as critics.

[InspiroQuest @InspiroQuest]

STUCK IN THE SAME OLD PATTERNS?

I used to wake up every day, trapped in negative thoughts, unable to break free from my past

Then I found Dr. Joe Dispenza’s method to reprogramme my brain (RESULTS show in ONLY 7 DAYS)

This is a NO-BS guide to reprogramming your brain :

[Alex Prompter @alex_prompter]

This is insane.

I used to spend $500 on Upwork and Fiverr freelancers.

Now, I just ask ChatGPT to do the same jobs.

The result? The AI does it faster, better, and for free.

Breakdown + full outputs:

[Beats in Brief 🗞️ @beatsinbrief]

🚨 Delhi govt announces pensions for political prisoners jailed during the Emergency period.

[Gems @gemsofbabus_]

🚨 Adobe To Open Its Third NOIDA Campus By Early 2026. With over 8,500 employees, India is Adobe’s largest talent base outside USA.