section 194H

Budget 2017: Increase 2 crore Turnover limit for section 194A/ 194H/ 194I & 194J

Income Tax - Section 44AB - Increased threshold for presumptive tax cases under section 44AD - Consequential amendments required in section 194A/ 194H/ 194I & 194J...

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TDS Rates Chart for FY 2017-18 / AY 2018-19

Income Tax - 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....

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TDS Rates Chart for FY 2016-17 / AY 2017-18

Income Tax - 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....

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Section 194H: TDS on Commission and Brokerage – FAQs

Income Tax - Any person, (other than individual or a Hindu undivided family) who is responsible for paying, to a resident, any income by way of commission (not being insurance commission referred to in section 194D) or brokerage, shall, deduct income-tax thereon....

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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. In this article we are discussing some of these provisions which makes it clea...

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Section 194H: TDS not applicable on Bank guarantee commission

DCIT Vs. Delta Constructions Ltd. (ITAT Hyderabad) - DCIT Vs. Delta Constructions Ltd. (ITAT Hyderabad) Assessee contends that in order to invoke the provisions of section 40(a)(ia) it has to be shown that the payment made by the assessee is attracted by the provisions of section 194H of the Act i.e., there is liability to deduct tax at source on the ...

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TDS U/s. 194H not deductible on bank guarantee commission

DCIT Vs. PRL Projects & Infrastructure Lt. (ITAT Delhi) - When the bank issues a bank guarantee on behalf of the assessee, all it does is to accept the commitment of making payment of a specified amount to the beneficiary on demand and it is in consideration of this commitment that the bank charges of fee which is termed as ‘bank guarantee commission’...

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TDS U/s. 194H not applicable on Bank Guarantee Commission

Addl CIT Vs Jaypee Agra Vikas Ltd (ITAT Delhi) - The contract of guarantee does not give any rise to principal - agent relationship between the assessee and the bank and, therefore, the consideration received by the bank on account of guarantee commission cannot be reckoned as commission as contemplated under section 194H and accordingly, there wa...

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TDS U/s. 194H not applies on discounts on principal to principal basis

ITO Vs Tarun Sales (ITAT Delhi) - ITO Vs Tarun Sales (ITAT Delhi) Since no dealer or sub-dealer was appointed either by BSNL or by the assessee, for the purpose of marketing the products and/or service of the Bharat Sanchar Nigam Ltd., the entire sales were to customers, either directly or through shopkeepers, who rendered services ...

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TDS on IUC charges paid to foreign / non-resident telecom operators and discount to prepaid distributors

Bharat Sanchar Nigam Ltd. Vs Addl. CIT (ITAT Delhi): ITA No. 920/Del./2017 - Addition on account of discount extended to prepaid distributors Third proviso to section 194H will get attracted only when the nature of payment is “commission or brokerage”. Parties before us agree that majorly the distribution of products by BSNL and MTNL takes place through Public Call Offic...

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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....

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section 194H’s Popular Posts

Recent Posts in "section 194H"

Section 194H: TDS not applicable on Bank guarantee commission

DCIT Vs. Delta Constructions Ltd. (ITAT Hyderabad)

DCIT Vs. Delta Constructions Ltd. (ITAT Hyderabad) Assessee contends that in order to invoke the provisions of section 40(a)(ia) it has to be shown that the payment made by the assessee is attracted by the provisions of section 194H of the Act i.e., there is liability to deduct tax at source on the bank guarantee […]...

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TDS U/s. 194H not deductible on bank guarantee commission

DCIT Vs. PRL Projects & Infrastructure Lt. (ITAT Delhi)

When the bank issues a bank guarantee on behalf of the assessee, all it does is to accept the commitment of making payment of a specified amount to the beneficiary on demand and it is in consideration of this commitment that the bank charges of fee which is termed as ‘bank guarantee commission’...

Read More

TDS U/s. 194H not applicable on Bank Guarantee Commission

Addl CIT Vs Jaypee Agra Vikas Ltd (ITAT Delhi)

The contract of guarantee does not give any rise to principal - agent relationship between the assessee and the bank and, therefore, the consideration received by the bank on account of guarantee commission cannot be reckoned as commission as contemplated under section 194H and accordingly, there was no requirement to deduct TDS on this p...

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TDS U/s. 194H not applies on discounts on principal to principal basis

ITO Vs Tarun Sales (ITAT Delhi)

ITO Vs Tarun Sales (ITAT Delhi) Since no dealer or sub-dealer was appointed either by BSNL or by the assessee, for the purpose of marketing the products and/or service of the Bharat Sanchar Nigam Ltd., the entire sales were to customers, either directly or through shopkeepers, who rendered services to the customers. ...

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TDS on IUC charges paid to foreign / non-resident telecom operators and discount to prepaid distributors

Bharat Sanchar Nigam Ltd. Vs Addl. CIT (ITAT Delhi): ITA No. 920/Del./2017

Addition on account of discount extended to prepaid distributors Third proviso to section 194H will get attracted only when the nature of payment is “commission or brokerage”. Parties before us agree that majorly the distribution of products by BSNL and MTNL takes place through Public Call Office franchisees since this was an infrastr...

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Secret reference fees paid by diagnostic centre to Doctors is liable to TDS

M/s. Parco Diagnostics & Research Centre Pvt. Ltd. Vs The Deputy Commissioner of Income-tax(TDS), (ITAT Cochine)

he payment made by the assessee as referral fees is directly proportionate or percentage of an amount received by the assessee for providing CT scan and MRI scan and such payment comes within the term 'Commission or Brokerage'....

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No penalty for non deduction of TDS on sale of SIM Cards/recharge coupons at discounted rate

Vodafone Cellular Limited Vs. Additional Commissioner of Income Tax, TDS Range (ITAT Pune)

Tribunal held that sale of SIM Cards/recharge coupons at discounted rate to distributors is not commission and therefore, not liable to TDS provisions u/s. 194H of the Act. Once, the substratum for levy of penalty has eroded there is no question for sustaining the penalty....

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Budget 2017: Increase 2 crore Turnover limit for section 194A/ 194H/ 194I & 194J

Section 44AB - Increased threshold for presumptive tax cases under section 44AD - Consequential amendments required in section 194A/ 194H/ 194I & 194J...

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TDS Rates Chart for FY 2017-18 / AY 2018-19

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....

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Posted Under: Income Tax |

Discount on Property Purchased from Broker is Capital Receipt

Ms. Vandana Guliani Vs Income Tax Officer (ITAT Delhi)

ITAT Delhi held that any receipt directly and intimately linked with the procurement of capital asset is in the nature of capital receipt and not a revenue receipt. So such brokerage cannot be taxed in the hand of property buyer. ...

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