TDS under section 194C of the Income Tax Act,1961- Amendment, Articles, News Notifications, Judgments and Detailed Analysis at one place
Income Tax : Learn about TDS under Section 194C of the Income Tax Act for payments to contractors. Includes rates, who needs to deduct, contrac...
Income Tax : Navigate tax complexities in transactions with government entities under Section 196 of the Income Tax Act. Explore tax deductions...
Income Tax : Dive into the intricacies of TDS under Sections 194C, 194H, 194J, and explore their critical relation with Section 194M. Clear ins...
Income Tax : Details of Form 13 & section 194C(6) of Income Tax Act 1961. Learn importance of these for transporters & how to avoid excess TDS ...
Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...
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 assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...
Income Tax : Kerala High Court held that when employees' contribution to EPF/ESI not made within due date prescribed for making payments is lia...
Income Tax : Andhra Pradesh High Court quashes prosecution against Aditya Institute for delayed TDS deposit, citing reasonable cause under Sect...
Service Tax : CESTAT Delhi rules service tax exemption for providing vehicles on hire to GTA. Detailed analysis of the Manak Chand Agarwal vs CG...
Income Tax : In a case before ITAT Delhi, it was ruled that payment made overseas for tariff information does not constitute 'FTS', hence no TD...
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...
Shri Suresh Khatri Vs ITO (ITAT Lucknow) Ground Nos. 1 to 3 of the appeal relate to the disallowance of Rs.6,42,437/- for non deduction of tax at source u/s 40(a)(ia) of the Act on payment of ocean freight, made to non-resident shipping companies. The assessee is a proprietary concern and engaged in the business of […]
The issue under consideration is whether the CIT(A) was justified in confirming the disallowance made u/s. 40(a)(ia) on account of advertisement expenses paid to News Paper Agencies, incurred without deduction of tax at source?
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act, 1961. Payer:- All Assesses, except Individuals & HUF who are not subjected to Audit u/s. 44AB(a)&(b) during preceding Financial Year. Payee:- Resident Time of Deduction:- Credit or Payment, Whichever is earlier. Rate:- -Individual/HUF- 1% -Others-2% Threshold Limit:- 30,000 for […]
The issue under consideration is whether the Ao is correct in levying penalty u/s 271C for failure to deduct tax at source u/s 194C on payment of external development work charges (EDC)?
Q.1 Who is responsible to deduct tax u/s 194C? A.1. Any person responsible for paying any sum to any resident contractor for carrying out any work (including supply of labour for carrying out any work) under a contract in pursuance of a contract between contractor and person specified, shall deduct in context at the time […]
Poornima M. Persons responsible for making payment of income, covered by the scheme of Tax Deduction at Source (TDS), are responsible to deduct tax at source and deposit the same to the Government Treasury within the time stipulated. The recipient of the income (though s/he gets only the net amount after TDS) is liable to […]
Accordingly, TDS under section 194C is not applicable on printing material as per customer specification, wherein customer has not supplied any material to contractor and contractor has supplied the final product for a price, which is in the nature of contract for sale.
As per Section 194C, deduction of TDS is required to be made from payments of any amount to resident contractors or sub-contractors. 1. DEDUCTION OF TDS FROM PAYMENT TO RESIDENT CONTRACTORS :- Sec 194C(1) provides that any person responsible for paying any sum to resident contractor for carrying out any work (including supply of labor) in pursuance of a contract between the contractor and the following:
The issue under consideration is whether A.O. is correct in disallowing the expense of retainership debited in P & L on the basis of non deduction of TDS u/s 194C when the Same was shown as salary by recipient in their Income Tax return?
Section 194C – TDS on Payment to Contractor post amendments by Finance Act 2020 The present article briefly covers the important provisions and recent changes relating to ‘TDS on Payment to Contractors’, which is covered under Section 194C of the Income Tax Act 1961. Section 194C – TDS on Payments to contractors. Any person responsible […]
