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Income Tax - Whether TDS is deductible u/s 194C or 194J is always a matter of concern in day to day business world. Today an attempt has been made to provide the basis to reduce such concern. The write-up can be summed up in following parts: 1. Payment to Contractors – Section 194C 2. Fee for professional or technical services – Section 194J 3...
Read MoreIncome Tax - Has the Contentious Issue of Applicability or Otherwise of TDS on Transmission & Wheeling Charges of Power Transmission Companies u/s 194J, 194I & 194C of the Income Tax Act, 1961, finally Settled???...
Read MoreIncome 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....
Read MoreIncome 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....
Read MoreIncome Tax - Wheeling Charges, Open Access Charges or Transmission Charges by whatever name it may be called, Income Tax Authorities have tried to cover it under TDS obligations whether as technical services u/s 194J, rent u/s 194I or as transport services u/s 194C. ...
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 MoreSales Emporium (ULG) Vs. Income Tax Officer (ITAT Kolkata) - The Kolkata bench of ITAT recently held that TDS provisions under the Income Tax Act, 1961 are applicable to payments made under an oral agreement....
Read MoreChandrakant Thackar Vs. Asst. CIT (ITAT Cuttack) - When hiring of trucks and payment thereof was not in consequence upon any written or oral agreement, the natural outcome is that the provisions of section 194C, as has been held in the decisions referred to herein before, were also not applicable to the assessee’s case ...
Read MoreDCIT Vs. Sri Rikhab Chand Jain (ITAT Kolkata) - No disallowance U/s 14A of Act need to be made by invoking the provisions of Rule 8D (2) (ii) of Rules as investments admittedly are business expediency investments and strategic investments....
Read MoreAssistant Commissioner of Income Tax Vs Sri Gobinda Gupta (ITAT Kolkata) - This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals), Burdwan dated 20.01.2016 and the solitary issue involved therein relates to the deletion by the ld. CIT(Appeals) of the disallowance of Rs.32,06,445/- and Rs.3,58,000/-...
Read MoreDHL Air Ltd. Vs. Dy. CIT (IT) (ITAT Mumbai) - It was held that the payment made for annual maintenance contracts would not fall under the category of fee for technical services within the meaning of provisions of section 194J of the Act. ...
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...
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Sales Emporium (ULG) Vs. Income Tax Officer (ITAT Kolkata) -
Chandrakant Thackar Vs. Asst. CIT (ITAT Cuttack) -
DCIT Vs. Sri Rikhab Chand Jain (ITAT Kolkata) -
Assistant Commissioner of Income Tax Vs Sri Gobinda Gupta (ITAT Kolkata) -
DHL Air Ltd. Vs. Dy. CIT (IT) (ITAT Mumbai) -
ITO Vs. Balabhai Nanavati Hospital (ITAT Mumbai) -
DCIT Vs. Yash Raj Films (P) Ltd. (ITAT Mumbai) -
