Section 194B: Tax Deduction on Winning from Lottery or Crossword Puzzle.
Income Tax : This document provides a complete reference on compounding of offences, including application procedures, offence-wise charges, re...
Income Tax : A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident ...
Income Tax : Section 194B amendment to apply TDS on lottery, gambling winnings over Rs. 10,000 in a single transaction, effective from April 20...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : In the context of the Income Tax Act of 1961 in India, winnings typically refer to income earned through activities such as lotter...
Income Tax : Introduction: The Government of India, under the Ministry of Finance, has recently responded to pertinent questions in the Lok Sab...
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 : The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conc...
Income Tax : ITAT Agra held that reassessment under Section 144 by JAO is valid even though faceless procedure under Section 144B was generally...
Income Tax : Delhi High Court restored conviction of Great Indian Nautanki Co. Pvt. Ltd. for delayed TDS deposit but replaced ₹25 lakh fine w...
Income Tax : The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding tha...
This document provides a complete reference on compounding of offences, including application procedures, offence-wise charges, repeat offence rules, and CBDT approval requirements. It reflects the provisions of the Income-tax Act as amended by the Finance Act, 2026.
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.
The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conclusive and factual deduction of tax overrides system mismatch.
ITAT Agra held that reassessment under Section 144 by JAO is valid even though faceless procedure under Section 144B was generally applicable. The CBDT Circular of 17.03.2022 provided relaxation for cases with expiring limitation. CIT(A)’s non-est finding was set aside, ensuring compliance with procedural exceptions.
Delhi High Court restored conviction of Great Indian Nautanki Co. Pvt. Ltd. for delayed TDS deposit but replaced ₹25 lakh fine with admonition, calling it a technical offence.
The Bombay High Court stayed orders treating PCMC as an assessee in default for not deducting TDS on issuance of TDRs, holding that Section 194LA applies only to monetary compensation.
The ITAT ruled that Compulsorily Convertible Debentures (CCDs) legally remain debt until conversion, rejecting the Transfer Pricing Officers (TPO) re-characterization of them as equity. The Tribunal quashed the Nil Arm’s Length Price (ALP) for associated interest and remanded the matter for fresh benchmarking.
A summary of Tax Deducted at Source (TDS) rates under various sections of the Income-tax Act, 1961, covering payments to resident and non-resident individuals and companies.
ITAT Mumbai rules stake money paid to horse owners is not subject to TDS under Sections 194B or 194BB, citing previous Tribunal order and CBDT Circular.
Held that wherever a company is required to deduct tax at source and to pay it to the account of the Central Government, failure on the part of the company in deducting or in paying such amount is an offence under the Act and has been made punishable.
