Section 192

TDS Rates Chart for FY 2017-18 / AY 2018-19

Income Tax - TDS Rates Chart for Financial Year 2017-18/ Assessment Year 2018-19 vide Finance Act 2017 i.e Budget 2017-18. We have updated the TDS rate chart considering the amendments made by Finance Act, 2017....

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TDS deductible on Salary Paid to Partners?

Income Tax - o Employer Employee Relationship exist between a partnership firm and partners so TDS is not required to be deducted on Partner’s Remuneration....

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TDS Rates Chart for FY 2016-17 / AY 2017-18

Income Tax - TDS Rate Chart: TDS/TCS Rates Chart for Financial Year 2016-17/ Assessment Year 2017-18 vide Finance Act 2016 i.e Budget 2016-17....

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Clash of titans, sec 192 Vs sec 206AA

Income Tax - Rashtriya Ispat Nigam Ltd. v. Addl CIT (TDS), ITAT Visakhapatnam) Even if there is no PAN, if the deductor has deducted TDS as per provisions of sec 192, Section 206AA does not over-ride section 192 in terms of the requirement of “at the rates specified in the relevant provisions of the Act....

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TDS on Salaries – Procedure to deduct TDS – Compliances

Income Tax - CA C. Maheshwar Reddy TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under Back Ground: Under Section 192, the employer is required to deduct Tax at Source while making the payment of salary during financial year to the employees, at the rate of applicable […]...

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TDS on Payment to Radio Jockies – Section 192 Vs. Section 194J

ITO Vs Entertainment Network (I) Ltd. (ITAT Mumbai) - Since advertising agency only acting as an intermediary between assessee radio broadcasting station and the advertiser, raised bills to the advertiser on net amount charged by the assessee, charging separate commission from the advertiser, deduction from the gross amount was in the nature of discoun...

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TDS deductible U/s. 192 instead of 194J if employee- employer relationship exist

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai) - Remuneration paid to six professionals engaged by the company was liable for deduction of tax at source u/s 192 as the same was in the nature of salary as against the claim of the assessee to deduct tax u/s 194J on these payments on the ground that these persons were acting in the capacity of indepe...

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Contribution to unrecognized Provident fund not eligible for deduction U/s. 80C

M/s. Kodakkad Service Co-operative Bank Ltd. Vs The Income Tax Officer (TDS) (ITAT Cochin) - Admittedly, the contributions of the assessees to the Provident Fund are not a recognized Fund, the same are not eligible for deduction u/s. 80C (2) (vi) of the I.T. Act. ...

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No TDS deductible on Tips received by Hotel Staff

EIH Ltd., Vs ITO (ITAT Delhi) - Since TIPS were received from customers and not from employer these would be chargeable in the hands of employee as income from other sources and section 192 would not get attracted on facts of case....

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As Advance tax not payable on salary Income so interest U/s. 234B, 234C cannot be levied

Ian Peter Morris vs. ACIT (Supreme Court of India) - In cases where receipt is by way of salary, deductions under Section 192 of the Act is required to be made. No question of payment of advance tax under Part 'C' of Chapter VII of the Act can arise in cases of receipt by way of 'salary'....

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How to calculate TDS on Salary FY 2013-14 / AY 2014-15

Circular No. 8/2013-Income Tax - (10/10/2013) - Circular No. 8/2013-Income Tax Provisions of TDS on Salary as applicable on Income from Salary for Financial year 2013-14 / Assessment year 2014-15. This includes how to calculate TDS on Salary for Financial year 2013-14 and taxability of various components of Salary, Eligible deduction for Salarie...

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How to Calculate TDS on Salary – AY 2013-14 / FY 2012-13

Circular No. 8/2012-Income Tax - (05/10/2012) - Circular no. 8/2012-Income Tax The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter the Act) and Income-tax ...

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Notification F. No. 275/192/2009-IT(B)-Income Tax dated 20-1-2010

Notification F. No. 275/192/2009-IT(B)-Income Tax - (20/01/2010) - Notification F. No. 275/192/2009-IT(B)-Income Tax Section 192 of the Income-tax Act, 1961 – Deduction of tax at source – Salary – Income-tax deduction from salaries during the financial year 2009-10 – Corrigendum to Circular No. 1/2010, dated 11-1-2010...

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Circular No. 9/2003-Income Tax Dated 18-11-2003

Circular No. 9/2003-Income Tax - (18/11/2003) - Income Tax Circular No. 9/2003 Reference is invited to Circular No. 13/2002 dated 23-12-2002 wherein the the rates of deduction of income-tax from the payment of income under the head ‘Salaries’ under section 192 of the Income-tax Act, 1961, during the financial year 2002-03, were intimated. The...

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Recent Posts in "Section 192"

TDS on Payment to Radio Jockies – Section 192 Vs. Section 194J

ITO Vs Entertainment Network (I) Ltd. (ITAT Mumbai)

Since advertising agency only acting as an intermediary between assessee radio broadcasting station and the advertiser, raised bills to the advertiser on net amount charged by the assessee, charging separate commission from the advertiser, deduction from the gross amount was in the nature of discount only and not commission, therefore, li...

Read More

TDS deductible U/s. 192 instead of 194J if employee- employer relationship exist

Red Chillies Entertainment Pvt. Ltd. Vs ACIT.(TDS) (ITAT Mumbai)

Remuneration paid to six professionals engaged by the company was liable for deduction of tax at source u/s 192 as the same was in the nature of salary as against the claim of the assessee to deduct tax u/s 194J on these payments on the ground that these persons were acting in the capacity of independent professionals and not as employee ...

Read More

Contribution to unrecognized Provident fund not eligible for deduction U/s. 80C

M/s. Kodakkad Service Co-operative Bank Ltd. Vs The Income Tax Officer (TDS) (ITAT Cochin)

Admittedly, the contributions of the assessees to the Provident Fund are not a recognized Fund, the same are not eligible for deduction u/s. 80C (2) (vi) of the I.T. Act. ...

Read More

No TDS deductible on Tips received by Hotel Staff

EIH Ltd., Vs ITO (ITAT Delhi)

Since TIPS were received from customers and not from employer these would be chargeable in the hands of employee as income from other sources and section 192 would not get attracted on facts of case....

Read More

TDS Rates Chart for FY 2017-18 / AY 2018-19

TDS Rates Chart for Financial Year 2017-18/ Assessment Year 2018-19 vide Finance Act 2017 i.e Budget 2017-18. We have updated the TDS rate chart considering the amendments made by Finance Act, 2017....

Read More
Posted Under: Income Tax |

As Advance tax not payable on salary Income so interest U/s. 234B, 234C cannot be levied

Ian Peter Morris vs. ACIT (Supreme Court of India)

In cases where receipt is by way of salary, deductions under Section 192 of the Act is required to be made. No question of payment of advance tax under Part 'C' of Chapter VII of the Act can arise in cases of receipt by way of 'salary'....

Read More

TDS deductible on Salary Paid to Partners?

o Employer Employee Relationship exist between a partnership firm and partners so TDS is not required to be deducted on Partner’s Remuneration....

Read More
Posted Under: Income Tax |

Nature of TDS Liability in Respect of Salaried Doctors, in- House & Visiting Consultants in a Nursing Home

Hosmat Hospital (P.) Ltd. vs. ACIT (ITAT Bangalore)

ITAT, Bangalore held that, in the instant case, since consultant doctors were paid fixed remuneration and the working conditions were under supervision and control of the hospital authorities, services were rendered by the doctors, in the nature of employee. Hence, payments were subject to TDS under section 192 of the Act....

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TDS Rates Chart for FY 2016-17 / AY 2017-18

TDS Rate Chart: TDS/TCS Rates Chart for Financial Year 2016-17/ Assessment Year 2017-18 vide Finance Act 2016 i.e Budget 2016-17....

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Posted Under: Income Tax | ,

Clash of titans, sec 192 Vs sec 206AA

Rashtriya Ispat Nigam Ltd. Vs Addl CIT (TDS), (ITAT Visakhapatnam)

Rashtriya Ispat Nigam Ltd. v. Addl CIT (TDS), ITAT Visakhapatnam) Even if there is no PAN, if the deductor has deducted TDS as per provisions of sec 192, Section 206AA does not over-ride section 192 in terms of the requirement of “at the rates specified in the relevant provisions of the Act....

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