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...
Now the issue before us arises so as to whether the labourers are the employees of assessee or they are working in contractual capacity attracting the provisions of TDS.
CIT (Appeals) was not correct in law that the assessee will be liable to deduct the TDS if the amount of a single contract exceeds Rs. 20,000/-. The contract has to be looked into party-wise not on the basis of the individual GR. In our opinion, all the payments made to a truck owner throughout the year are to be aggregated to ascertain the applicability of the TDS provision
The labour sardars are employed/deployed by the labour union to collect the money in bulk and distribute the same amongst the labourers, who are ultimate beneficiaries and not the labour sardars i.e in question. These labour sardars are remunerated by the union only for the job done. The collected money distributed amongst the labours/ labourers by the labour sardars on behalf of assessee and as such deducting of TDS from the said payment amount does not arise at all.
It has been submitted that taking out of the final negative of the films does not involve rendering of any technical or professional services. Therefore, TDS is required to be deducted u/s 194C.
Taking of machinery and equipment on hire would not amount to a contract for carrying out any work as contemplated in section 194C of Act.The said contract i.e. taking of machinery and equipment on hire also cannot be treated with a contract for supply of labour.
Since TIPS were received from customers and not from employer these would be chargeable in the hands of employee as income from other sources and section 192 would not get attracted on facts of case.
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.
These are usual clauses in such contracts. The testing, pre-commissioning, commissioning and post-commissioning are required to be carried out by a contractor to satisfy the customer that the work has been executed in a proper manne
Sections 194C(6) and Section 194C(7) are independent of each other, and cannot be read together to attract disallowance u/s 40(a)(ia) read with Section 194C of the Act; and If the assessee complies with the provisions of Section 194C(6), no disallowance u/s 40(a)(ia) of the Act is permissible, even there is violation of the provisions of Section 194C(7) of the Act.
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.
