Income Tax : Understand TDS on rent under Sections 194-I and 194-IB, including threshold limits, rates, timelines, filing requirements, and PAN...
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 : Section 194-I amendment raises rent TDS threshold to Rs. 50,000 per month, effective April 2025....
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 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 : The ruling clarifies that TDS must be deducted at the time of credit, even if amounts are booked as provisions. Merely claiming th...
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...
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 […]
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 ?
