Income Tax - Section 194 of Income Tax Act, 1961 is pertaining to Tax Deducted at Source of various payments, like salary, interest, winning from lottery or cross word puzzle or card games or other games, horse race, insurance commission, commission or brokerage, rent, fees for professional or technical services, royalty, payment of certain amount in ...
Read MoreIncome Tax - Income Tax TDS Rate Chart for for Financial Year (FY) 2022-23 / Assessment Year (AY) 2023-24 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...
Read MoreIncome Tax - In absence of a written sub-contract: whether contractors liable to deduct TDS? In general practice the person who generates income is under an obligation to file its return and/or to pay tax under Income Tax Act, 1961 (for brevity hereinafter referred to as “IT Act”). But in certain enumerated situations, the payer of such consid...
Read MoreIncome Tax - It is held that, TDS has to be deducted u/s 194C of Income Tax Act, 1961 (the IT Act) on payment made to advertising agency even if there is no written contract....
Read MoreIncome Tax - 1) Who is responsible to deduct tax under Section 194C of Income Tax Act, 1961? Any specified person responsible for paying any sum to any resident-contractor for carrying out any work (including supply of labour for carrying out any work) in pursuance of a contract. Following are the specified persons – a. The Central Government [&hell...
Read MoreIncome Tax - Section 194C(6) provides exemption to small good carriage contractor/transporter (owning not more than 10 goods carriage at any time during the previous year) on furnishing of PAN along with the declaration to that effect to deductor from TDS....
Read MoreIncome Tax - The Supreme Court has sought a reply from Samsung India Electronics on the I-T department plea that the firm is liable to deduct tax in respect of goods outsourced for manufacturing. The issue has been raised by the income-tax department saying that consumer electronics and home appliances manufacturer Samsung India Electronics Ltd is li...
Read MoreIncome Tax - The Central Board of Direct Taxes (CBDT) expanded the scope of professional services to cover sportspersons, umpires and referees, making them liable for a higher tax deduction at source (TDS) at the rate of 10% against 1-2%. ...
Read MoreKamal Jafferali Wadhwania Vs ITO (ITAT Mumbai) - Kamal Jafferali Wadhwania Vs ITO (ITAT Mumbai) Section 194I is applicable only in case of rent may be on plant and machinery (@ the rate of 2%) and for the use any land or building or land appurtenant to a building. In this case assessee is paying a rent/lease charges for the office premises which [...
Read MoreParas Nath Singh Vs ACIT (ITAT Patna) - Paras Nath Singh Vs ACIT (ITAT Patna) Main grievance of the assessee is disallowance u/s 40(a)(ia) amounting to Rs. 25,74,023/- being the expenditure incurred in respect of freight and carriage. On this specific issue from the perusal of assessment order passed by the AO and it was come to our notic...
Read MoreShri Gopinathan Vs The ITO (ITAT Chennai) - Shri Gopinathan Vs ITO (ITAT Chennai) It is not the case of the Department that the Assessing Officer has omitted to consider the claim of expenses and thereby passed the rectification order under section 154 of the Act. In this case assessment was reopened under section 147 of the Act and during th...
Read MoreANI Technologies Private Limited Vs DCIT (TDS) (ITAT Chandigarh) - ITAT Chandigarh held that the aggregator/ intermediary (OLA) acts merely as an intermediary and hence not liable to deduct TDS u/s 194C on payments made to drivers....
Read MoreDCIT Vs Expeditors International [I] Pvt. Ltd. (ITAT Delhi) - Circular No. 723 dated 19.09.1995 - Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies...
Read MoreCircular No. 05/2016- Income Tax - (29/02/2016) - Law Related to Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements....
Read MoreCircular No. 04/2016- Income Tax - (29/02/2016) - Law Relating to Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for production of content or programme for telecasting....
Read MoreCircular No. 9/2012-Income Tax - (17/10/2012) - Circular No. 9/2012 Representations have been received from various sections of the Industry on the difficulties faced in the matter of Tax Deduction at Source on Gas Transportation Charges paid by the purchasers of Natural gas to the sellers of gas....
Read MoreCircular No. 1/2008-Income Tax - (10/01/2008) - CIRCULAR NO. 1/2008-Income Tax Representations have been received from various quarters regarding applicability of the provisions of Section 194-I to cooling charges paid by the various customers to the owners of cold storages. It has been represented that the cold storage owners provide a composite...
Read MoreCircular No. 715-Income Tax - (08/08/1995) - Circular No. 715-Income Tax Clarifications on various provisions relating to tax deduction at source regarding changes introduced through Finance Act, 1995 The Finance Act, 1995, has enlarged the scope of income-tax deduction at source by making various amendments. In regard to the changes introdu...
Read MoreKamal Jafferali Wadhwania Vs ITO (ITAT Mumbai) -
Paras Nath Singh Vs ACIT (ITAT Patna) -
Shri Gopinathan Vs The ITO (ITAT Chennai) -
ANI Technologies Private Limited Vs DCIT (TDS) (ITAT Chandigarh) -
DCIT Vs Expeditors International [I] Pvt. Ltd. (ITAT Delhi) -
Cowtown Software Design Pvt. Ltd. Vs DCIT (TDS) (ITAT Mumbai) -
RBS Business Services Pvt. Ltd. Vs DCIT (TDS) (ITAT Delhi) -
Air India Ltd. Vs CIT (ITAT Mumbai) -
Shesh Dhar Chaube Vs ITO (ITAT Delhi) -