section 194H

TDS Rate Chart for AY 2020-21/FY 2019-20

Income Tax - TDS Rate Chart or TDS Rate Table For Assessment year 2020-21 (AY) / Financial Year (FY) 2019-20 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after consideri...

Read More

Commission or brokerage [Section 194H]

Income Tax - Any person who is responsible for paying any income by way of commission (other than insurance commission) or brokerage to a resident shall deduct income tax at the rate of 5% under Section 194H of Income Tax Act, 1961. However, an individual or HUF whose total sales, gross receipts or turnover from the business or […]...

Read More

Section 194H – TDS on Commission or Brokerage

Income Tax - The provisions of section 194H of the Income Tax Act, 1961 governs the TDS deductible on commission or brokerage income. The present article briefs the basic provisions of section 194H of the Income Tax Act; explains the meaning of commission / brokerage; provides TDS deduction rate and time of deduction of TDS and also provides the [&he...

Read More

TDS Rate Chart for the FY-2019-2020

Income Tax - TDS Rate Chart for the Financial Year (FY) -2019-2020 / TDS Rate Chart for the Assessment Year (AY) -2020-2021. Article Prescribes Nature of Payment on which TDS is deductible, Section under which TDS is deductible, Basic amount per annum on which TDS is not deductible, TDS rate if PAN is not deductible. TDS rates are […]...

Read More

Don’t Take TDS Lightly

Income Tax - Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961....

Read More
Sorry No Post Found

TDS not dedutible on charges paid to Banks for providing payment gateway

PCIT Vs Make My Trip India Pvt. Ltd. (Delhi High Court) - Services provided by the payment gateway is such that the charges collected by it has to be necessarily treated as fees and not as a commission. The payment in fact is made by one principal to another and it is only being facilitated by the payment gateway by providing a service....

Read More

Discount under product distribution scheme to buy assessee’s product is not a commission for TDS U/s. 194H

CIT Vs Intervet India Pvt.Ltd. (Bombay High Court) - CIT Vs Intervet India Pvt.Ltd. (Bombay High Court)  The Assessee had undertaken sales promotional scheme viz. Product discount scheme and Product campaign as discussed herein above under which the Assessee had offered an incentive on case to case basis to its stockists/dealers/agents. An amount of ...

Read More

No TDS u/s 194H on commission paid to banks on processing of credit card transactions

Pr. CIT Vs Hotel Leela Venture Ltd. (Bombay High Court) - Bank guarantee commission was not in the nature of commission paid to an agent but it was in the nature of bank charges for providing one of the banking service, therefore, the charge collected by bank for such service did not amount to commission within the meaning of section 194H and such commissi...

Read More

Commission to Sahayak for collecting milk liable for TDS u/s 194C

DCIT Vs M/s. Maahi Milk Producer Co. Ltd. (ITAT Rajkot) - 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...

Read More

No TDS u/s 194H on bank charges for credit card payments

Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai) - Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Payments towards bank charges for credit card payments were not liable for TDS under section 194H as the same was not a commission. Held:  Assessee had made payments towards bank charges for credit card payments . AO made the additions as ass...

Read More

TDS on payments for procuring or canvassing for advertisements

Circular No. 05/2016- Income Tax - (29/02/2016) - Law Related to Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies for procuring or canvassing for advertisements....

Read More

Recent Posts in "section 194H"

TDS not dedutible on charges paid to Banks for providing payment gateway

PCIT Vs Make My Trip India Pvt. Ltd. (Delhi High Court)

Services provided by the payment gateway is such that the charges collected by it has to be necessarily treated as fees and not as a commission. The payment in fact is made by one principal to another and it is only being facilitated by the payment gateway by providing a service....

Read More

TDS Rate Chart for AY 2020-21/FY 2019-20

TDS Rate Chart or TDS Rate Table For Assessment year 2020-21 (AY) / Financial Year (FY) 2019-20 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after consideri...

Read More
Posted Under: Income Tax |

Discount under product distribution scheme to buy assessee’s product is not a commission for TDS U/s. 194H

CIT Vs Intervet India Pvt.Ltd. (Bombay High Court)

CIT Vs Intervet India Pvt.Ltd. (Bombay High Court)  The Assessee had undertaken sales promotional scheme viz. Product discount scheme and Product campaign as discussed herein above under which the Assessee had offered an incentive on case to case basis to its stockists/dealers/agents. An amount of Rs.70,67,089/- was claimed as a deductio...

Read More

Commission or brokerage [Section 194H]

Any person who is responsible for paying any income by way of commission (other than insurance commission) or brokerage to a resident shall deduct income tax at the rate of 5% under Section 194H of Income Tax Act, 1961. However, an individual or HUF whose total sales, gross receipts or turnover from the business or […]...

Read More

Section 194H – TDS on Commission or Brokerage

The provisions of section 194H of the Income Tax Act, 1961 governs the TDS deductible on commission or brokerage income. The present article briefs the basic provisions of section 194H of the Income Tax Act; explains the meaning of commission / brokerage; provides TDS deduction rate and time of deduction of TDS and also provides the [&he...

Read More
Posted Under: Income Tax |

No TDS u/s 194H on commission paid to banks on processing of credit card transactions

Pr. CIT Vs Hotel Leela Venture Ltd. (Bombay High Court)

Bank guarantee commission was not in the nature of commission paid to an agent but it was in the nature of bank charges for providing one of the banking service, therefore, the charge collected by bank for such service did not amount to commission within the meaning of section 194H and such commission could not be disallowed under section...

Read More

Commission to Sahayak for collecting milk liable for TDS u/s 194C

DCIT Vs M/s. Maahi Milk Producer Co. Ltd. (ITAT Rajkot)

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 provisio...

Read More

No TDS u/s 194H on bank charges for credit card payments

Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai)

Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Payments towards bank charges for credit card payments were not liable for TDS under section 194H as the same was not a commission. Held:  Assessee had made payments towards bank charges for credit card payments . AO made the additions as assessee made payment  without deduction [...

Read More

TDS u/s.194H not deductible on credit card commission retained by banks

ACIT Vs The Indian Hotels Company Ltd. (ITAT Delhi)

ACIT Vs Indian Hotels Company Ltd. (ITAT Delhi) It was the submission of the assessee that credit card commission was out of the realm of section 194H of the Act since there was no principal-agent relationship between the merchant establishment and the bank and, therefore, the provisions relating to tax deduction at source were not [&hell...

Read More

TDS not deductible on Payment Gateway Charges paid to Banks

Pr. CIT Vs Make My Trip India Pvt. Ltd. (Delhi High Court)

Pr. CIT Vs Make My Trip India Pvt. Ltd. (Delhi High Court) Central Government, by notification dated 31stDecember, 2012 has notified that no TDS shall be made on the following payments to the banks listed in the Second Schedule to the Reserve Bank of India Act: (i) bank guarantee commission; (ii) cash management service charges; […...

Read More

Browse All Categories

CA, CS, CMA (4,375)
Company Law (5,170)
Custom Duty (7,494)
DGFT (4,051)
Excise Duty (4,279)
Fema / RBI (3,902)
Finance (4,053)
Income Tax (31,258)
SEBI (3,249)
Service Tax (3,483)

Search Posts by Date

December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031