Income Tax : Section 194H amendment raises TDS threshold for commission or brokerage payments from Rs. 15,000 to Rs. 20,000, effective from Apr...
Income Tax : Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective Apri...
Income Tax : Important TDS rate changes from October 1, 2024, affecting insurance, rent, commissions, mutual funds, and e-commerce. Learn about...
Income Tax : Explore the Supreme Court interpretation of Section 194-H of the Income Tax Act, 1961, analyzing the distinction between commissio...
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 : Understand Section 194H of the Income-tax Act: It mandates a 5% TDS on commission or brokerage payments to residents, soon reducin...
Income Tax : Assessee was not liable to deduct TDS under section 194H as relationship between e-commerce platform and assessee was not of an ...
Goods and Services Tax : Delhi High Court allowed the petition for waiver of mandatory pre-deposit under section 35F of the Central Excise Act, 1944 since ...
Income Tax : ITAT Bangalore remitted the matter back to CIT(A) so that assessee can file necessary documents with regard to disallowance made u...
Income Tax : Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franc...
Income Tax : Gujarat High Court rules in favor of Bharti Airtel Ltd, stating distributor discounts are not subject to TDS under Section 194 of ...
Income Tax : TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Sectio...
Income Tax : Law Related to Tax Deduction at Source (TDS) on payments by television channels and publishing houses to advertisement companies f...
ITAT Jaipur held that being a debatable issue there was a reasonable cause for non-deduction of TDS on specified transactions and accordingly penalty under section 271C of the Income Tax Act not justified.
Ketan Sahebrao Purkar Vs ITO (ITAT Pune) The issue involved in the present appeal is whether on the facts and circumstances of the case, the appellant is liable to deduct tax at source u/s 194H in respect of expenditure claimed to have been debited to Profit & Loss Account under head “commission”. Without delving into […]
ITO Vs Marda Associates (ITAT Kolkata) CIT (A) held that A.0. misunderstood that the benefit/ incentive/additional margin passed on by the appellant through credit notes was in the nature of commission. He further, misunderstood that discount/ additional margin could be given only on the invoice and not post invoice. It is submitted that the commission […]
Delve into Section 194H of the Income Tax Act, exploring its intricacies on tax deduction for commission or brokerage payments. Learn about applicable rates, exemptions, and insights from relevant case laws. Stay informed to ensure accurate compliance.
Explore Section 194H of the Income Tax Act, covering TDS on commission and brokerage payments. Understand key features, tax rates, threshold limits, and obligations of deductors. Delve into relevant case laws for comprehensive insights into the application of Section 194H.
Sale of prepaid sim cards / recharge vouchers by the assessee to distributors cannot be treated as commission / discount to attract the provisions of section 194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act.
Understand TDS on Rent and TDS on Commission with this comprehensive summary. Learn about the provisions, rates, and thresholds for deducting TDS on these payments.
The ambit of a contract of agency and its resultant effect on the classification of difference between the Actual Fare and Net Fare as being a Commission liable to deduction of TDS.
TDS Rate Chart for FY 2023-2024 (AY 2024-2025) – Get complete details on Budget 2023 Amendments, Nature of Payment & Threshold Limits. Tax Deduction at Source (TDS) now at 3 crore limit for co-operative societies.
Oxford University Press Vs DCIT (ITAT Mumbai) a) The assessee had made payment of School support services to various schools / societies for the services rendered by them to the assessee by way of referring the students to the booksellers to purchase the textbooks published by the assessee. b) But for the reference made by […]