section 194I

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

Section 194I of Income Tax Act, 1961 – TDS on Rent

Income Tax - Section 194I was inserted vide the Finance Act, 1994. The present article covers the important section 194-I of the Income Tax Act, 1961, which deals with the provisions of ‘TDS on Rent’. Meaning of the term ‘Rent’ –  Before going into the nitty-gritty of the provisions of section 194-I of the Income Tax Act, 1961, first [&hel...

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

Changes in Income tax & GST applicable from 01st April 2019

Income Tax - The new financial year has just begun, and there has been a lot of changes in tax laws. So, in the article, we aim to discuss few changes, relevant to most of the taxpayers. We are covering the changes made in Income tax Act and GST.  A. Changes in Income tax Act 1. Rebate u/s […]...

Read More

Executive Summary of Finance Bill, 2019 ‐ Direct Taxes

Income Tax - Finance Bill,2019 has proposed amendments to  Standard deduction, Notional Income of two self-occupied property, Interest on capital borrowed for acquisition / construction of two self occupied  House properties, Exemption under Section 54, Interest on capital borrowed for acquisition / construction of two self occupied  House properti...

Read More

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....

Read More

Section 194I: Rent for use of Land includes lease, sub-lease, tenancy payment

CIT (TDS) Vs Jaypee Sports International Ltd. (Allahabad High Court) - CIT (TDS) Vs Jaypee Sports International Ltd. (Allahabad High Court) Word ‘rent’ means any payment by whatever name called under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land and came to the conclusion that lease money or annual rent is rent ...

Read More

Machinery rent cannot be taxed as Income from House Property for TDS deduction under wrong head

Heritage Hospitality Ltd. Vs DCIt (ITAT Hyderabad) - AO’s opinion that since TDS made u/s. 194-I, incomes are to be assessed under head ‘income from house property’ can not be accepted. Moreover, even if assessee has let out property but, when the Memorandum of Association permits the business of letting out of properties as such, the income can...

Read More

TDS not deductible on Payment of Wharfage Charges

M/s. Angre Port (P) Ltd. Vs ITO (ITAT Pune) - M/s. Angre Port (P) Ltd. Vs ITO (ITAT Pune) Wharfage charges are charged from the assessee and in such case, we hold that there is no use of land but even if it was held that there is any use of land, then the same was incidental but such payments could not be treated as […]...

Read More

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...

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 ...

Read More

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...

Read More

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...

Read More

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....

Read More

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...

Read More

Recent Posts in "section 194I"

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 |

Section 194I of Income Tax Act, 1961 – TDS on Rent

Section 194I was inserted vide the Finance Act, 1994. The present article covers the important section 194-I of the Income Tax Act, 1961, which deals with the provisions of ‘TDS on Rent’. Meaning of the term ‘Rent’ –  Before going into the nitty-gritty of the provisions of section 194-I of the Income Tax Act, 1961, first [&hel...

Read More
Posted Under: Income Tax | ,

Section 194I: Rent for use of Land includes lease, sub-lease, tenancy payment

CIT (TDS) Vs Jaypee Sports International Ltd. (Allahabad High Court)

CIT (TDS) Vs Jaypee Sports International Ltd. (Allahabad High Court) Word ‘rent’ means any payment by whatever name called under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land and came to the conclusion that lease money or annual rent is rent within the meaning of section 194-I [&he...

Read More

Machinery rent cannot be taxed as Income from House Property for TDS deduction under wrong head

Heritage Hospitality Ltd. Vs DCIt (ITAT Hyderabad)

AO’s opinion that since TDS made u/s. 194-I, incomes are to be assessed under head ‘income from house property’ can not be accepted. Moreover, even if assessee has let out property but, when the Memorandum of Association permits the business of letting out of properties as such, the income cannot be brought to tax as ‘income from ...

Read More

TDS not deductible on Payment of Wharfage Charges

M/s. Angre Port (P) Ltd. Vs ITO (ITAT Pune)

M/s. Angre Port (P) Ltd. Vs ITO (ITAT Pune) Wharfage charges are charged from the assessee and in such case, we hold that there is no use of land but even if it was held that there is any use of land, then the same was incidental but such payments could not be treated as […]...

Read More

TDS Rate Chart for the FY-2019-2020

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
Posted Under: Income Tax |

Changes in Income tax & GST applicable from 01st April 2019

The new financial year has just begun, and there has been a lot of changes in tax laws. So, in the article, we aim to discuss few changes, relevant to most of the taxpayers. We are covering the changes made in Income tax Act and GST.  A. Changes in Income tax Act 1. Rebate u/s […]...

Read More
Posted Under: Income Tax | ,

Executive Summary of Finance Bill, 2019 ‐ Direct Taxes

Finance Bill,2019 has proposed amendments to  Standard deduction, Notional Income of two self-occupied property, Interest on capital borrowed for acquisition / construction of two self occupied  House properties, Exemption under Section 54, Interest on capital borrowed for acquisition / construction of two self occupied  House properti...

Read More

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

Browse All Categories

CA, CS, CMA (4,288)
Company Law (5,004)
Custom Duty (7,381)
DGFT (3,997)
Excise Duty (4,257)
Fema / RBI (3,832)
Finance (4,009)
Income Tax (30,752)
SEBI (3,191)
Service Tax (3,470)

Search Posts by Date

September 2019
M T W T F S S
« Aug    
 1
2345678
9101112131415
16171819202122
23242526272829
30