Income Tax : Explore Section 194I of the Income Tax Act for tax deductions on rent payments. Learn rates, exemptions, and important clarificati...
Income Tax : Explore legal perspectives and judicial precedents regarding Tax Deducted at Source (TDS) applicability on Common Area Maintenance...
Income Tax : Learn about TDS on rent under the Income-tax Act – rates, applicability, exemptions, and procedures. Understand how to comply wi...
Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...
Income Tax : Gain a comprehensive understanding of Tax Deducted At Source (TDS) provisions under the Income Tax Act, 1961. Explore key sections...
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 : Explore implications of Bombay High Court's ruling on TDS deduction under Section 194I for 'Transit Rent'. Get insights into judgm...
Income Tax : Bombay High Court rules storage tanks not land or building, impacting TDS deductions on storage charges. A pivotal decision for ta...
Income Tax : ITAT Delhi allows Oravel Stays' appeal against CIT(A)'s order, removing disallowance under section 40(a)(ia) for not deducting TDS...
Income Tax : Explore the ITAT Delhi order in Paramount Restaurants' appeal against National Faceless Appeal Centre's decision on TDS deduction ...
Income Tax : ITAT Delhi decision on TDS under section 194C for CAM charges. Explore Liberty Retail Revolutions Ltd. vs ACIT case details, analy...
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...
Yum Restaurants India (P) Ltd Vs ACIT (ITAT Delhi) The undisputable fact in this case is that while the lease rentals are paid based on a fixed percentage on the net revenue, the Common Area Maintenance (CAM) charges are based on the per sq. ft. area. The observation of the ld. CIT(A) is that the […]
Navigate TDS on Rentals with clarity on Section 194I, 194IB, and 194IC. Learn about rates, applicability, and differences between sections. Stay compliant and informed in rental transactions.
Kamal Jafferali Wadhwania Vs ITO (ITAT Mumbai) Section 194I is applicable only in case of rent may be on plant and machinery (@ the rate of 2%) and for the use any land or building or land appurtenant to a building. In this case assessee is paying a rent/lease charges for the office premises which […]
Section 194A provision provides that obligation cast under Section 194IA is qua each transferee and not qua aggregate consideration.
The assessee gave additional discount to parties on account of godown rent paid by the said parties. According to the assessee, the customers did not take the delivery of the goods in their own godown after the purchase and the goods would continue to be at the godown of the assessee till the customer sells the goods to the other parties.
Punabhai G. Pardava Vs ITO (ITAT Rajkot) Assessee contended that the disallowance should be restricted to the tune of 30% of the rent paid under the provisions of section 40(a)(ia) read with section 194-I of Income Tax Act. The amendment was brought by the Finance Act (No. 2) 2014 effective from 1-4-2015 whereas the year […]
Explore the updated Income Tax TDS Rate Chart for FY 2022-23 / AY 2023-24. Comprehensive guide covering TDS rates on various incomes as per the Income-tax Act. Stay informed to ensure accurate tax deductions.
IF car is hired not to perform specific services and charges are not paid on the basis of specific uses but the same is hired for availability of car for particular time or period without specification of particular services and charges paid on fixed basis then such hiring should be considered as rental contract under the provision of section 194I of the Act.
In absence of there being any payment of rent or even deemed rent by the Respondents to OPTCL there was no obligation under Section 194-I of the IT Act to deduct TDS from the wheeling charges paid to OPTCL.
ThoughtWorks Technologies (India) Private Limited Vs DCIT (ITAT Bangalore) As per clause 4 of the agreement between the assessee and the First Leasing (lessor) the asset shall remain the exclusive property of the lessor (First Leasing) at all times. It further provides that the lessee at no time during the lease period can capitalize the […]
