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...
As per the circular no. 723 dated 19.09.1995 states that where the provisions of Section 172 are to apply, the provisions of Section 194C and 195 relating to tax deduction at source are not applicable.
Tax deduction at source is considered as a major tool to curb tax evasion and Governments have, wherever possible, introduced TDS provisions in tax laws both in direct taxation and indirect taxation. In this article the author is trying to throw light on some practical and procedural issues in Income Tax – TDS.
Article compiles TDS Rate Chart For Financial Year 2020-21 and Assessment Year 2021-22 along with Due date of Payment of TDS and mode of Payment of TDS. Article explains Section under which TDS is deductible and TDS Rate Applicable. Article Covers Change in TDS Applicable from 01.04.2020 which was proposed by Union BUdget 2020 which […]
Where a vehicle was provided by assessee to the concerned parties and assessee was to bear the vehicle expenses actually incurred by the cab owners which will be reimbursed by the parties concerned, reimbursement of actual expenses incurred by assessee could not be treated as payment subject to TDS under section 194C.
Payments made to dealers for providing services to ultimate customers in lieu of free service coupons surrendered by them were not in the nature of reimbursement of expenditure incurred by dealers but in the nature of payment of consideration pursuant to a contract, as per which dealer provided such services to ultimate customers, accordingly, assessee was obligated to have deducted tax under section 194C from payments towards service coupons to its dealers.
In the given case, the respondent assessee has filed its return of income for the assessment year 2013-14. The Principal Commissioner of Income Tax invoked power of revision under Section 263 of the Act, 1961 on the ground that without deducting TDS on the export freight, the assessee company had paid export freight to Inter Ocean Shipping and Logistic Services.
Amending definition of ‘work’ in section 194C of the Act Section 194C of the Act provides for the deduction of tax on payments made to contractors. The section provides that any person responsible for paying any sum to a resident for carrying out any work (including supply of labour for carrying out any work) in […]
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???
The present article briefly covers the important provisions relating to TDS section 194C of the Income Tax Act along with the Frequently Asked Question.
In this article, we look at transactions that require TDS deduction and the TDS rates for AY 2020-21. In some transaction, the person making payment is required to deduct tax at source (TDS) while making payment.
