Taxpayers throughout the country are receiving multiple notices which pertain to blocking of input tax credit invoking rule 86(A) of the CGST rules 2017. In many instances notices are also not received by the taxpayers and the fact only comes to notice when one goes to file the return and it is seen that the […]
Calcutta High Court issues interim order in Apeejay Tea Ltd. petition challenging constitutional validity of Income Tax Section 194N. Stay till September 30, 2021.
1) Who is responsible to deduct tax under section 194LB of Income Tax Act, 1961? Any person who makes payment of interest [which is payable by an infrastructure debt fund, as per section 10(47)] to a non-resident (not a company/ foreign company) is required to deduct tax at source. 2) When to Deduct TDS under […]
1) Who is responsible to deduct tax under section 194LBA of Income Tax Act, 1961? Any person who makes payment of income [as per section 115UA] which is payable by a business trust to its unit holder is required to deduct tax at source. Such unit holder can be a resident, non-resident (but not a […]
Analysis of Section 194LA of Income Tax Act, 1961 This section is effective from 1-10-2004 which provides as follows; a. Any person responsible for paying any sum to a resident is required to deduct tax at source; b. The payment must be in the nature of compensation or the enhanced compensation or the consideration or […]
1) Who is responsible to deduct tax under Section 194K of Income Tax Act, 1961? a) Any person responsible for making the payment to a resident in respect of b) units of a Mutual Fund specified under clause (23D) of section 10 or of the Unit Trust of India, c) units from the Administrator of […]
