TDS on Foreign Payments & Liquidated Damages as Capital Receipts

Table of Contents▸ ITC Limited Vs ACIT (ITAT Kolkata) TDS under section 195 not deductible on payments made to foreign commission agents Liquidated damages are capital receipts not to be reduced from the cost of fixed assets ITC Limited Vs ACIT (ITAT Kolkata) TDS under section 195 not deductible on payments made to foreign commission agents In the case of ITC Limited vs. ACIT (ITAT Kolkata), the tribunal ruled that tax deduction at source (TDS) under section 195 is not required for payments made to foreign commission agents. The commission was paid for services rendered entirely outsi...