Income Tax : Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and complia...
Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Delhi High Court rules CAM charges are contractual payments under Section 194C, not rent under Section 194I, clarifying TDS obliga...
Income Tax : Understand the income tax implications of upfront lease premiums in BOT leases for lessors and lessees, including taxability, TDS,...
Income Tax : Understand Section 194I for TDS on rent, including applicable rates, thresholds, and clarifications for various rent types. Stay i...
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 u...
Income Tax : The dispute concerned deduction of CSR expenditure incurred before Explanation 2 to section 37(1) became applicable. The ITAT held...
Income Tax : The issue was whether compensation paid to flat buyers was capital or revenue expenditure. The Court held it to be revenue expendi...
Income Tax : ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verific...
Income Tax : The Court reaffirmed that lease rent paid for use of land qualifies as “rent” under Section 194I. Revenue’s appeals were dis...
Income Tax : Unexplained cash deposits and rent discrepancies led to rejection of books under section 145(3). However, the Tribunal held that e...
Income Tax : A dispute arose on applicability of the provisions of section 194-I of the Act, on payment of Passenger Service Fees (PSF) by an A...
Income Tax : 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 leas...
Income Tax : Central Government hereby notifies that no deduction of tax shall be made from payments of the nature specified in section 193 or ...
Income Tax : 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...
ITAT Chennai remands Wavoo Real Estate’s tax appeals to AO for fresh adjudication, citing ex-parte assessment and new evidence, with a condition of payment to Legal Aid.
Understand the income tax implications of upfront lease premiums in BOT leases for lessors and lessees, including taxability, TDS, and amortization rules.
Understand Section 194I for TDS on rent, including applicable rates, thresholds, and clarifications for various rent types. Stay informed on recent updates.
Delhi High Court rules Common Area Maintenance (CAM) charges fall under TDS Section 194C (works contract), dismissing Revenue’s appeal for Section 194-I (rent) in a landmark decision.
ITAT Delhi held that incentives in the form of excise duty refund, sales tax remission, sales/ VAT input tax refund received under the Incentive Scheme are capital receipts and hence not chargeable to income tax. Accordingly, ground of the assessee allowed.
The issue involved in the present appeal relates to deduction of TDS in case of payment of External Development Charges [EDC]. Notably, TDS was not deducted by the assessee.
Section 194-I amendment raises rent TDS threshold to Rs. 50,000 per month, effective April 2025.
Finance Bill 2025 proposes new TDS thresholds for various sections, including interest, dividends, and commissions, effective April 1, 2025.
The Surat Bench of ITAT allowed the appeal for statistical purpose which means that ITAT uphold the decision of CIT (A) but without any real impact on the case. It allowed TDS credit of the of Rs.4,50,000/- but in AY 2018-19 whereas it was claimed in AY 2016-17.
Kerala High Court held that lessee is liable to deduct TDS u/s. 194-I of the Income Tax Act, however, there is a dispute for ownership of the property. Then, in such case lessee is directed to deduct TDS and deposit under his TAN as unclaimed challan.
