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Income Tax - Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961....
Read MoreIncome Tax - Issue: Whether the TDS provisions are applicable on payment of electricity reimbursement to landlord in case of there is no mark-up? Opinion The opinion is based on the following two questions: Whether the invoice from landlord as same from Electricity Department? Whether the invoice from landlord is composite supply? The first question h...
Read MoreIncome Tax - TDS Rate Chart or TDS Rate Table For Assessment year 2019-20 (AY) / Financial Year (FY) 2018-19 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after consideri...
Read MoreIncome 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 - 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 MoreJCIT Vs Bharat Business Channels Ltd. (ITAT Mumbai) - Installation of set-top box amounted to works contract and no technical expertise was required so as to make the assessee liable to deduct tax under section 194J....
Read MoreM/s. KGL Network (P) Ltd. Vs The ACIT (ITAT Delhi) - M/s. KGL Network (P) Ltd. Vs ACIT (ITAT Delhi) Assessee-company made payments on behalf of its clients as Clearing and Forwarding (C&F)Agent which were reimbursed to the assessee-company. The assessee-company did not make claim of deduction in the P & L A/c. Similar claim of assessee-comp...
Read MoreEshan Minerals Pvt. Ltd Eshan Minerals Pvt. Ltd Vs DCIT (ITAT Pune) - TDS requirement under section 194C is not applicable to transactions of purchase of goods, therefore, no disallowance under section 40(a)(ia) could be made....
Read MoreSK. Sajjad Ali Vs ITO (ITAT Kolkata) - Moreover, it has to be kept in mind by the AO that merely because nomenclature of expense is given as ‘Labour Charges Paid’ does not conclusively determine the character and nature of the expense claimed. ...
Read MoreKCL Amrcl joint Venture Vs ITO (ITAT Hyderabad) - In the given case, memebrs of JV decided to form a JV only to secure the orders and execution of the orders was to be done by one of the constituents of the JV. JV was formed for the benefit of the individual members and a business was carried on for the benefit of the businessman. There was no sub-...
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 MoreJCIT Vs Bharat Business Channels Ltd. (ITAT Mumbai) -
M/s. KGL Network (P) Ltd. Vs The ACIT (ITAT Delhi) -
Eshan Minerals Pvt. Ltd Eshan Minerals Pvt. Ltd Vs DCIT (ITAT Pune) -
SK. Sajjad Ali Vs ITO (ITAT Kolkata) -
KCL Amrcl joint Venture Vs ITO (ITAT Hyderabad) -
Income Tax Officer Vs M/s. Sugarchem (ITAT Mumbai) -
Commissioner of Income Tax Vs M/s Indian Oil Corporation Ltd. (Uttarakhand High Court) -
The Commissioner Of Income Tax-1 Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court) -
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