section 194I

TDS On Payment of Rent More Than Rs. 50,000 Per Month By Individuals/ HUFs

Income Tax - There is an existing provision for deduction of TDS (deduction of tax at source) under section 194-I in the Income Tax Act, 1961 for individuals/HUFs, wherever tax audit is applicable....

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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....

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TDS Rate Chart for AY 2019-20 / FY 2018-19

Income Tax - TDS Rate Chart or TDS Rate Table For Assessment year 2019-20 (AY) / Financial Year (FY) 2018-19 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...

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TDS on Power Transmission & Wheeling Charges u/s 194J, 194I & 194C

Income Tax - 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???...

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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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Section 194-I: Increase TDS on rental income exemption limit of Rs. 1,80,000

Income Tax - As per the provisions of section 194-I, the tax is to be deducted at source @10% in respect of income by the way of rent for any use of land or building or furniture or fixture etc....

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Wharfage Charges is not Rent: TDS not deductible U/s. 194I

M/s. MCC PTA India Corp.Pvt. Ltd. Vs ACIT (ITAT Kolkata) - M/s. MCC PTA India Corp. Pvt. Ltd. Vs ACIT (ITAT Kolkata) Section 35 of Major Ports Act 1963 empowers the Board to execute works providing appliances which includes wharves, quays, docks, stages, jetties, piers and other works within or without the port limits and also moorings and cranes, scales an...

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TDS U/s. 194I deductible on lease rent Paid to Noida Authority

M/s. New okhla industrial development authority  Vs Commissioner of income tax (Supreme Court of India) - The High Court has read the relevant clauses of the lease deed and has rightly come to the conclusion that payment which is to be made as annual rent is rent within the meaning of Section 194­I, we do not find any infirmity in the aforesaid conclusion of the High Court. The High Court has rightly ...

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TDS on payment to Carrier under contracts for transporting petroleum products in business is deductible U/s. 194C and not U/s./ 194I

Commissioner of Income Tax Vs M/s Indian Oil Corporation Ltd. (Uttarakhand High Court) - Assessee is obliged to deduct tax on the payment made by it to the Carrier under the contracts for transporting the petroleum products in the business in which the respondent assessee is engaged. On the one hand, it is the case of the appellant Department that the case of the respondent assessee fal...

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TDS was not applicable on Hiring of Vehicles prior to Amendment in Sec 194-I

The Commissioner Of Income Tax-1 Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court) - CIT Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court) Section 194C of the Act speaks of any payment made to any resident, referred to as a contractor, for carrying out any work including supply of labour, in pursuance of a contract between the contractor and a specified person. He...

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TDS on hired vehicles u/s 194I or under 194C ?

CIT Vs Pioneer Peresonalised Holidays (P.) Ltd (Kerala High Court) - Hiring of vehicles does not fall within the ambit of Section 194C of the Act. From 01.06.2007 definitely deduction would have to be made at source even for hiring of vehicles as Section 194-I of the Act stands amended to bring in such transactions also....

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Section 194I not applicable on remittance of Passenger Service Fees: CBDT

Circular No. 21/2017-Income Tax - (12/06/2017) - A dispute arose on applicability of the provisions of section 194-I of the Act, on payment of Passenger Service Fees (PSF) by an Airline to an Airport Operator. The Honourable High Court of Bombay in CIT vs. Jet Airways (India) Ltd.' declined to admit the ground relating to applicability of provisio...

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TDS on lump sum lease premium paid for long term lease

Circular No. 35 of 2016-Income Tax - (13/10/2016) - The issue of whether or not TDS under section 194-I of the Act is applicable on 'lump sum lease premium' or 'one-time upfront lease charges" paid by an assessee for acquiring long-term leasehold rights for land or any other property has been examined by CBDT in view of representations received in th...

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No TDS on Payment to Tirupati Balaji Mandir U/s. 193 & 194A

Notification No. 81/2016-Income Tax - (09/09/2016) - Central Government hereby notifies that no deduction of tax shall be made from payments of the nature specified in section 193 or section 194A or section 194-I of the said Act to the Tirumala Tirupati Devasthanams, Tirupati, Andhra Pradesh....

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Deduction of Tax at source on Service Tax on professional and technical fees

F. No.275/73/2007-IT(B) - (30/06/2008) - Circular No. F. No.275/73/2007-IT(B) Service Tax component to be considered for deducting tax on any sum paid as professional and technical fees under section 194J The Central Board of Direct Taxes (CBDT) has clarified that the payments made under section 194I differ significantly from payments mad...

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Recent Posts in "section 194I"

TDS On Payment of Rent More Than Rs. 50,000 Per Month By Individuals/ HUFs

There is an existing provision for deduction of TDS (deduction of tax at source) under section 194-I in the Income Tax Act, 1961 for individuals/HUFs, wherever tax audit is applicable....

Read More
Posted Under: Income Tax |

Wharfage Charges is not Rent: TDS not deductible U/s. 194I

M/s. MCC PTA India Corp.Pvt. Ltd. Vs ACIT (ITAT Kolkata)

M/s. MCC PTA India Corp. Pvt. Ltd. Vs ACIT (ITAT Kolkata) Section 35 of Major Ports Act 1963 empowers the Board to execute works providing appliances which includes wharves, quays, docks, stages, jetties, piers and other works within or without the port limits and also moorings and cranes, scales and all other necessary needs and [&hellip...

Read More

TDS U/s. 194I deductible on lease rent Paid to Noida Authority

M/s. New okhla industrial development authority  Vs Commissioner of income tax (Supreme Court of India)

The High Court has read the relevant clauses of the lease deed and has rightly come to the conclusion that payment which is to be made as annual rent is rent within the meaning of Section 194­I, we do not find any infirmity in the aforesaid conclusion of the High Court. The High Court has rightly held that TDS shall be deducted on the p...

Read More

Don’t Take TDS Lightly

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
Posted Under: Income Tax |

TDS on payment to Carrier under contracts for transporting petroleum products in business is deductible U/s. 194C and not U/s./ 194I

Commissioner of Income Tax Vs M/s Indian Oil Corporation Ltd. (Uttarakhand High Court)

Assessee is obliged to deduct tax on the payment made by it to the Carrier under the contracts for transporting the petroleum products in the business in which the respondent assessee is engaged. On the one hand, it is the case of the appellant Department that the case of the respondent assessee falls under Section 194-I of the Income Tax...

Read More

TDS was not applicable on Hiring of Vehicles prior to Amendment in Sec 194-I

The Commissioner Of Income Tax-1 Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court)

CIT Vs. M/s. Pioneer Personalized Holidays Pvt. Ltd (Kerala High Court) Section 194C of the Act speaks of any payment made to any resident, referred to as a contractor, for carrying out any work including supply of labour, in pursuance of a contract between the contractor and a specified person. Here, the contract if at all, […]...

Read More

TDS Rate Chart for AY 2019-20 / FY 2018-19

TDS Rate Chart or TDS Rate Table For Assessment year 2019-20 (AY) / Financial Year (FY) 2018-19 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 |

TDS on hired vehicles u/s 194I or under 194C ?

CIT Vs Pioneer Peresonalised Holidays (P.) Ltd (Kerala High Court)

Hiring of vehicles does not fall within the ambit of Section 194C of the Act. From 01.06.2007 definitely deduction would have to be made at source even for hiring of vehicles as Section 194-I of the Act stands amended to bring in such transactions also....

Read More

TDS on Power Transmission & Wheeling Charges u/s 194J, 194I & 194C

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???...

Read More
Posted Under: Income Tax |

Section 194-I: Increase TDS on rental income exemption limit of Rs. 1,80,000

As per the provisions of section 194-I, the tax is to be deducted at source @10% in respect of income by the way of rent for any use of land or building or furniture or fixture etc....

Read More
Posted Under: Income Tax |

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