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 : 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 : 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 : Assessing Officer has nowhere determined as to how Section 194C is applicable on payments made by assessee. Unless a charge is bei...
Income Tax : Tribunal restored the matter of AO’s disallowance, which was deemed inconsistent with Section 115JB by directing assessee’s cl...
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...
A party cannot be called upon to perform an impossible Act i.e. to comply with a provision not in force at the relevant time but introduced later by retrospective amendment. S. 40(a)(i) dis allowance can be made only if the royalty falls under Explanation 2 to s. 9(1)(vi) but not if it falls under Explanation 6 to s. 9(1)(vi)
Though manufacturers were obliged to manufacture products as per specifications and standards provided by the assessee however, contractual obligations were entered into on principal-to-principal basis and related agreements were purchase and sale contracts simpliciter, which did not require any deduction of tax under section 194C.
ACIT Vs Swastik Pipes Ltd. (ITAT Delhi) The assessee produced documentary evidences in support of its contention which had not been rebutted by AO and since impugned payments were in the form of reimbursement and no payments were made by assessee directly to shipping companies, therefore, assessee was not liable to deduct tax under section […]
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. Discussion on some clarification by department 4. Court Rulings 5. Conclusion
Commission payments made by assessee to Sahayak was on percentage basis depending on various parameters like number of farmers pouring milk, fat and SNF factor in milk, quantity of milk collected etc. which ensured payment was commensurate with work performed and thus, the nature of work carried out by the Sahayak were covered by provisions of section 194C instead of section 194H and accordingly tax was deducted on the same accordingly.
Assessee is obliged to deduct tax on the payment made by it to the Carrier under the contracts for transporting the petroleum products in the business in which the respondent assessee is engaged. On the one hand, it is the case of the appellant Department that the case of the respondent assessee falls under Section 194-I of the Income Tax Act, 1961 . On the other hand, the case of the respondent assessee is that its case falls under Section 1 94C of the Act.
CIT Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court) Section 194C of the Act speaks of any payment made to any resident, referred to as a contractor, for carrying out any work including supply of labour, in pursuance of a contract between the contractor and a specified person. Here, the contract if at all, […]
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.
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.
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.
