section 194I - Page 3

Activity of Mere Hiring of Machineries and Equipments does not attract TDS: Allahabad HC

CIT­ Vs M/S Jai Prakash Enterprises Ltd. (Allahabad High Court)

Taking of machinery and equipment on hire would not amount to a contract for carrying out any work as contemplated in section 194C of Act.The said contract i.e. taking of machinery and equipment on hire also cannot be treated with a contract for supply of labour. ...

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No TDS on Long term Lease Rent / Interest / other Payments for Plot Lease paid to GNOIDA

Rajesh Projects (India) Pvt. Ltd Vs CIT (TDS) (Delhi High Court)

This common judgment will dispose of a batch of writ petitions. They were heard together as they involve identical questions of fact and law as to the correct interpretation of Section 194-I of the Income Tax Act [hereafter the Act]....

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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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Posted Under: Income Tax | ,

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 |

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 this regard....

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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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One time upfront payment- Sale or Lease Payment?

M/s.Foxconn India Developer (P) Ltd. Vs ITO (Madras High Court)

The Hon'ble Madras HC in the above cited case held that the one time upfront payment made by assessee lessee to lessor for the acquisition of leasehold rights over an immovable property for a long duration of time say 99 years could not be taken to constitute rental income at the hands of the lessor because the dominant intention of leasi...

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

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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Posted Under: Income Tax | ,

Enabling of Filing of Form 15G/15H for rental payments

The provision of sub-section 194-I of the Act, inter alia, provides for tax deduction at source (TDS) for payments in the nature of rent beyond a threshold limit. The existing provisions provide threshold of Rs. 1,80,000 per financial year for deduction of tax under this section. ...

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Posted Under: Income Tax |

Lease Premium Paid to CIDCO is a Capital Expenditure, Thus Not Liable to TDS

ITO (TDS) Vs M/s Progressive Civil Engineers Private Limited (ITAT Mumbai)

In the Case of Income Tax Officer (TDS) Vs. M/s Progressive Civil Engineers Private Limited, ITAT Mumbai held that Lease Premium payment made to CIDCO is to acquire capital asset being long term holding rights along with right to construct and therefore it is capital expenditure in nature....

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