Income Tax : Section 194 now exempts tax deduction on dividends to individuals if the total annual dividend does not exceed Rs. 10,000, effecti...
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Income Tax : TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold L...
Income Tax : Explore Budget 2024's new tax provisions on income from buy-back of shares for domestic companies. Learn how these changes impact ...
Income Tax : The Tribunal held that discounts given to stockists in pharmaceutical distribution are part of sale transactions on a principal-to...
Income Tax : The Tribunal held that receipts already offered under the presumptive scheme cannot be taxed again as unexplained money. Once inco...
Income Tax : The issue was whether stake money paid to horse owners attracts TDS under Sections 194B or 194BB. The Tribunal held that stake mon...
Income Tax : ITAT Hyderabad held that interest paid on account of delayed remittance of TDS cannot be treated as business expenditure under sec...
Income Tax : ITAT Cochin upheld that hospital payments to consulting doctors are professional fees under Section 194J, rejecting Revenue’s cl...
The Tribunal held that discounts given to stockists in pharmaceutical distribution are part of sale transactions on a principal-to-principal basis. As no commission was paid, TDS under section 194H was held inapplicable.
The Tribunal held that receipts already offered under the presumptive scheme cannot be taxed again as unexplained money. Once income is declared under section 44AD and supported by surrounding facts, section 69A has no application.
The issue was whether stake money paid to horse owners attracts TDS under Sections 194B or 194BB. The Tribunal held that stake money is distinct from betting winnings and deleted the Section 201 tax and interest demand.
ITAT Hyderabad held that interest paid on account of delayed remittance of TDS cannot be treated as business expenditure under section 37(1) of the Income Tax Act. Accordingly, order disallowing the same is upheld.
ITAT Cochin upheld that hospital payments to consulting doctors are professional fees under Section 194J, rejecting Revenue’s claim for salary TDS under Section 192.
The Tribunal held that TDS credit cannot be restricted solely due to differences between reported turnover and Form 26AS if the assessee has correctly offered the income for tax. The appeal was allowed, directing the AO to grant full TDS credit.
ITAT Surat rules company’s capital contribution to a partnership firm for business purposes is not a loan or advance, thus escaping deemed dividend tax u/s 2(22)(e).
Delhi HC ruled that External Development Charges (EDC) paid to HUDA are not “rent” u/s 194−I, dismissing the Revenue’s appeal against SS Group Pvt. Ltd. No TDS liability confirmed.
Karnataka High Court held that interest under section 201 of the Income Tax Act and late filing fee under section 234E leviable for non-deduction of TDS from sale consideration paid to Bengaluru Development Authority [BDA] for allotment of made by BDA.
Section 194 now exempts tax deduction on dividends to individuals if the total annual dividend does not exceed Rs. 10,000, effective April 2025.
