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...
Monetary Limit under section 194J & 194C are unchanged for Individual or HUF, it is still Rs 1 crore instead of Rs 5 crores With Finance Act, 2020, tax audit total sales, turnover or gross receipts limit in case of Business has been changed to Rs 5 Crores instead of Rs 1 Crore earlier. Provided […]
Art-E-Mide Construction Pvt. Ltd. Vs DCIT (ITAT Kolkata) AO noted that the assessee has paid consolidated salary (contract pay) of Rs. 8,39,960/-. Since it was shown as contractual payment made by the assessee of Rs. 8,39,960/- according to AO, Section 194C of the Act was attracted and therefore, the assessee was bound to deduct the […]
Balaji Prasanna Travels Vs ACIT (ITAT Bangalore) It is observed that as agreed by and between the assessee and the cab owners, a vehicle was to be provided by the assessee to the parties and thus, the assessee was to bear the vehicle expenses actually incurred by the said cab owners and which will be […]
1. INTRODUCTION The term TDS refers to tax deducted at source. The concept of TDS was introduced with an aim to collect tax from source itself. It fulfills dual purpose of Govt. i.e. advance receipt of tax and requirement to regulate person making certain payments or receiving any sum. Govt. is using TDS as its […]
The Tax deducted at source (TDS) is covered under chapter XVII of the Income Tax Act, 1961. There are number of sections & subsections under which TDS has to be deducted but the important which are most used by the assessee are given below:
As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor. This new subsection 6 of 194-C makes such transport contractor to compulsorily provide PAN to the Deductor, failing to which TDS will be made by Deductor as per 194C.
The issue under consideration is whether the payments made to C & F agents which is outright reimbursement of freight charges having no element of profit is liable to deduct tax at source under Section 194C of IT Act?
Disallowance made by AO under section 40(a)(ia) for non deduction of TDS on discount/rebate allowed to dealers/distributors on sale of products was not justified as there was no element of work as defined under clause (iv) of Explanation to section 194C and AO had not brought on record any material for deduction of TDS under section 194H that the dealers/distributors were simply acting as intermediaries to facilitate sale of products to end users so as to infer a principal–agent relationship.
Shree Choudhary Transport Company Vs ITO (Supreme Court) 1. As to whether Section 194C of the Act does not apply to the present case? Whether the appellant had specific and identified trucks on its rolls or had been picking them up on freelance basis, the legal effect on the status of parties had been the […]
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 […]
