TDS under section 194C of the Income Tax Act,1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place
Income Tax : A large spousal gift exemption was denied due to failure in proving genuineness, creditworthiness, and source of funds. The ruling...
Income Tax : The amendment explicitly includes manpower supply services under contractual provisions, making 1–2% TDS applicable instead of 1...
Income Tax : Learn when and how TDS applies to payments for contractual work, including rates, thresholds, exemptions, and recent amendments....
Income Tax : Delhi High Court rules CAM charges are contractual payments under Section 194C, not rent under Section 194I, clarifying TDS obliga...
Income Tax : ITAT Chennai ruled that gold wastage during ornament manufacturing isn't considered a payment for making charges, so TDS under Sec...
Income Tax : From October 2024, payments under Section 194J (professional fees) will be excluded from TDS under Section 194C (payments to contr...
Income Tax : Section 194C(6) provides exemption to small good carriage contractor/transporter (owning not more than 10 goods carriage at any ti...
Income 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 ...
Income Tax : The Central Board of Direct Taxes (CBDT) expanded the scope of professional services to cover sportspersons, umpires and referees,...
Income Tax : The ITAT Delhi held that contractual receipts reflected in the PAN of a dissolved partnership firm could not be taxed again when t...
Income Tax : ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 2...
Income Tax : The case examined whether contract receipts reflected in Form 26AS but not disclosed as income could be taxed. The Tribunal upheld...
Income Tax : ITAT Bangalore remanded ₹49.43 lakh sundry creditor addition and ₹3.74 lakh TDS disallowance, holding that lack of proper evid...
Income Tax : The Tribunal rejected the Revenue’s argument that taxpayers must seek AO determination under Section 195(2) in all cases. It hel...
Income Tax : Law Related to Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies f...
Income Tax : Law Relating to Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for product...
Income Tax : Circular No. 9/2012 Representations have been received from various sections of the Industry on the difficulties faced in the matt...
Income Tax : CIRCULAR NO. 1/2008-Income Tax Representations have been received from various quarters regarding applicability of the provisions ...
Income Tax : Circular No. 715-Income Tax Clarifications on various provisions relating to tax deduction at source regarding changes introduced...
The ITAT Delhi held that contractual receipts reflected in the PAN of a dissolved partnership firm could not be taxed again when they were already disclosed in the proprietorship concern of the surviving partner. The Tribunal ruled that such addition would amount to double taxation.
ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 201. Relief allowed if payees paid tax; no TDS default on salary provisions as deduction arises on payment.
The case examined whether contract receipts reflected in Form 26AS but not disclosed as income could be taxed. The Tribunal upheld the addition, ruling that failure to report such receipts in any year makes them taxable in the year of receipt.
ITAT Bangalore remanded ₹49.43 lakh sundry creditor addition and ₹3.74 lakh TDS disallowance, holding that lack of proper evidence analysis and factual verification violated natural justice, requiring fresh adjudication by AO.
A large spousal gift exemption was denied due to failure in proving genuineness, creditworthiness, and source of funds. The ruling highlights that documentation is crucial even for exempt transactions under tax law.
The Tribunal rejected the Revenue’s argument that taxpayers must seek AO determination under Section 195(2) in all cases. It held that such obligation arises only when income is chargeable to tax in India. This ruling reduces procedural burden where taxability itself is absent.
ITAT Mumbai held that no TDS is liable to be deducted when payment is made for serving food in a restaurant in the normal course of running of the restaurant/café. Accordingly, appeal allowed to that extent.
The Tribunal held that no disallowance under section 36(1)(iii) can be made where loans are advanced from interest-free funds. It observed that availability of own funds and recovery during the year supported the assessee’s claim.
The issue was whether ALP can be determined without comparable transactions. ITAT held that Rule 10AB mandates comparables, making the TPO’s approach invalid and restricting the adjustment.
ITAT set aside the addition made under Section 68 due to incomplete verification of a large gift transaction. It remanded the case for fresh examination with proper evidence and opportunity.
