section 194I

Section 194I TDS on Rent – Analysis

Income Tax - What Payment is Covered u/s 194I? Rent includes service charges: - Service charges payable to business Centre’s are covered under the definition of rent, as they cover payments by whatever named called....

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TDS : Some Other Issues

Income Tax - Even after reading major sections related with TDS in detail there are some matter which needs further consideration. Some of them are discussed hereunder:- Person deducting Tax at source under section 194B has been made liable : TO PAY TAX TO THE CREDIT OF THE CENTRAL GOVERNMENT – As per rule 30 of the Income-tax […]...

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TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

Income Tax - Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...

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TDS on Landing and parking charges payable to AAI

Income Tax - Landing and parking charges payable by airlines to Airport Authority of India (AAI) in respect of aircraft are subject to section 194C but not subject to section 194-I, as per the decision of the Hon’ble Supreme Court. In this article, I’m going to discuss whether landing and parking charges payable by airlines to AAI are [&he...

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TDS on Rent under section 194I, 194IB & 194IC

Income Tax - All about TDS on Rent Meaning of Rent ‘Rent’ means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— 1. land; or 2. building (including factory building); or 3. land appurtenant to a building (including factory ...

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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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TDS not applicable on payment of lease financial amounts to lease financial companies

CIT Vs Texas Instruments India Pvt. Ltd. (Karnataka High Court) - Neither Section 194-C nor 194-I of the Act would be applicable to the lease financing of motor vehicles; thus there could have been no disallowance on the ground that there was no tax deduction at source made by the Assessee....

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No TDS to be deducted by Indian Newspaper Society on payment of lease premium

ACIT Vs The Indian News Paper Society (ITAT Delhi) - Indian Newspaper Society was not required to deduct tax at source (TDS) under section 194I in respect of lease premium paid on following the orders dated 27.01.2014 and 20.06.2013 of Co-ordinate Benches of ITAT, Delhi in assessee’s own case; and after due consideration of CBDT Circular dated 13-10...

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TDS on Common area maintenance charges- TDS U/s. 194I or 194C?

Kapoor Watch Company Pvt. Ltd. Vs ACIT (ITAT Delhi) - Kapoor Watch Company Pvt. Ltd. Vs ACIT (ITAT Delhi) Hon’ble Court held that maintenance charges must form a part of the rent while calculating the annual value of property u/s 23(1) of the Act for the purpose of Section 22 of the Act. However, in the present assessee company’s case, the common a...

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No TDS u/s 194I on Payment for Acquisition of Leasehold Rights over Immovable Property

Nagarjuna Oil Corporation Ltd. Vs ACIT (Madras High Court) - The issue under consideration is whether payment for the acquisition of leasehold rights over immovable property is rental income and hence eligible for TDS u/s 194I ?...

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No Section 194I TDS on Rent if Accommodation Services taken on Casual Basis

Dadiba kali Pundole Vs ACIT (ITAT Mumbai) - The issue under consideration is whether the TDS u/s 194I is applicable on the rent if the accommodation services were taken on a casual basis?...

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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"

Section 194I TDS on Rent – Analysis

What Payment is Covered u/s 194I? Rent includes service charges: - Service charges payable to business Centre’s are covered under the definition of rent, as they cover payments by whatever named called....

Read More
Posted Under: Company Law |

TDS : Some Other Issues

Even after reading major sections related with TDS in detail there are some matter which needs further consideration. Some of them are discussed hereunder:- Person deducting Tax at source under section 194B has been made liable : TO PAY TAX TO THE CREDIT OF THE CENTRAL GOVERNMENT – As per rule 30 of the Income-tax […]...

Read More
Posted Under: Company Law |

TDS Rate Chart for FY 2021-22 / AY 2022-23 – Updated

Income Tax TDS Rate Chart for for Financial Year (FY) 2021-22 / Assessment Year (AY) 2022-23 The term ‘TDS’ refers to ‘Tax Deduction at source’. It is a mechanism wherein a person responsible to pay a sum of specified nature shall deduct an amount towards TDS and pay it to the credit of Central Government. […]...

Read More

TDS on Landing and parking charges payable to AAI

Landing and parking charges payable by airlines to Airport Authority of India (AAI) in respect of aircraft are subject to section 194C but not subject to section 194-I, as per the decision of the Hon’ble Supreme Court. In this article, I’m going to discuss whether landing and parking charges payable by airlines to AAI are [&he...

Read More
Posted Under: Company Law |

TDS not applicable on payment of lease financial amounts to lease financial companies

CIT Vs Texas Instruments India Pvt. Ltd. (Karnataka High Court)

Neither Section 194-C nor 194-I of the Act would be applicable to the lease financing of motor vehicles; thus there could have been no disallowance on the ground that there was no tax deduction at source made by the Assessee....

Read More

No TDS to be deducted by Indian Newspaper Society on payment of lease premium

ACIT Vs The Indian News Paper Society (ITAT Delhi)

Indian Newspaper Society was not required to deduct tax at source (TDS) under section 194I in respect of lease premium paid on following the orders dated 27.01.2014 and 20.06.2013 of Co-ordinate Benches of ITAT, Delhi in assessee’s own case; and after due consideration of CBDT Circular dated 13-10-2016 which took into account the orders...

Read More

TDS on Common area maintenance charges- TDS U/s. 194I or 194C?

Kapoor Watch Company Pvt. Ltd. Vs ACIT (ITAT Delhi)

Kapoor Watch Company Pvt. Ltd. Vs ACIT (ITAT Delhi) Hon’ble Court held that maintenance charges must form a part of the rent while calculating the annual value of property u/s 23(1) of the Act for the purpose of Section 22 of the Act. However, in the present assessee company’s case, the common area maintenance charges […]...

Read More

No TDS u/s 194I on Payment for Acquisition of Leasehold Rights over Immovable Property

Nagarjuna Oil Corporation Ltd. Vs ACIT (Madras High Court)

The issue under consideration is whether payment for the acquisition of leasehold rights over immovable property is rental income and hence eligible for TDS u/s 194I ?...

Read More

No Section 194I TDS on Rent if Accommodation Services taken on Casual Basis

Dadiba kali Pundole Vs ACIT (ITAT Mumbai)

The issue under consideration is whether the TDS u/s 194I is applicable on the rent if the accommodation services were taken on a casual basis?...

Read More

TDS on Rent under section 194I, 194IB & 194IC

All about TDS on Rent Meaning of Rent ‘Rent’ means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,— 1. land; or 2. building (including factory building); or 3. land appurtenant to a building (including factory ...

Read More
Posted Under: Company Law |

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