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...
In the present article we will briefly take up the Annual Information Statement covering the Rent received category. AIS information category – Rent received- The broad categories of information covered in AIS is divided into 50 categories. One such category is ‘Rent received’. Notably, the information under the category of ‘Rent received’ will be figure-out […]
TDS on payment towards lease line charge was liable to deduct under section 194J as against under section 194I as lease line services were standard automatic services which were availed by any telecom service provider for the transmission of data and was not under any exclusive arrangement.
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.
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 […]
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 […]
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.
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 of High Court in assessee’s own case
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 […]
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 ?
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?
