Income Tax : The amendment explicitly includes manpower supply services under contractual provisions, making 1–2% TDS applicable instead of 1...
Income Tax : ITAT rulings clarify that deduction of tax under Section 194J does not automatically classify income as professional income under ...
Income Tax : Businesses are seeking a cap on dividend taxation for resident shareholders to address double taxation concerns. The proposal aim...
Income Tax : The Bombay High Court ruled on a hospital's TDS obligations for consultant doctors and equipment maintenance contracts, upholding ...
Income Tax : Indian freelancers, consultants, and creators face tax scrutiny over TDS mismatches and the use of presumptive taxation provisions...
Income Tax : From October 2024, payments under Section 194J (professional fees) will be excluded from TDS under Section 194C (payments to contr...
Income Tax : Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax ...
Income Tax : A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India and it is been requested that...
Income Tax : It is suggested that the TDS limit for payment of professional or technical fees under section 194J may be increased from Rs. 3000...
Income Tax : On the issue of retrospective amendment, Union Finance Minister, Shri Pranab Mukherjee has said that he had given a commitment in ...
Income Tax : ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional in...
Income Tax : ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 2...
Income Tax : The case examines whether estimated expense disallowances can be made without rejecting books of account. ITAT held such additions...
Income Tax : ITAT Delhi held that Advertisement, Marketing & Promotion expense [AMP expense] incurred by Make My Trip wholly and exclusively fo...
Income Tax : ITAT Mumbai held that no TDS is liable to be deducted when payment is made for serving food in a restaurant in the normal course o...
Income Tax : Law Relating to Tax Deduction at Source (TDS) on payments by broadcasters or television channels to production houses for product...
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...
Where assessee had hired the services for various works such as storage of data, scanning of documents, processing charges, call center operations, etc. and the same were basically clerical services of repetitive nature of work therefore, work outsourced was in the nature of clerical work and was rightly deducted under section 194C.
Manne Hareesh Vs ITO (ITAT Hyderabad) During the course of scrutiny assessment proceedings, it was observed by the Ld. AO that the assessee has debited in his P & L Account an amount of Rs. 2,40,000 towards Accounting Charges. On query, it was explained by the assessee that the outstanding amount of Rs. 2,40,000 was […]
Even though amendment was given a retrospective effect but by that time assessee had already done the transactions without complying section 194J for payment made towards data line charges, therefore, assessee could not be held to have violated the provisions of section 194J, because the law cannot possibly compel a person to do something which is impossible to perform.
TDS Rate Chart or TDS Rate Table For Assessment year 2020-21 (AY) / Financial Year (FY) 2019-20 In the case of a person other than a company (Resident and Non-Resident) i.e. Individual, HUF, BOI, AOP, Artificial Judicial Persons. Partnership Firm (Including LLP) and for domestic company and Foreign Companies. TDS Rates are after considering the […]
Principal Sri Sathya Sai College for Women Vs ITO (ITAT Jaipur) Assessee college has issued appointment letters to teachers/ lecturers/ staff members from time to time to whom salary was paid. The monthwise salary sheet was also prepared by the college on the basis of the attendance register of the employees. The salary was paid […]
CIT Vs M/s. Reliance Life Insurance Co Ltd (Bombay High Court) Assessee had hired the services for various works such as storage of data, scanning of documents, processing charges, call centre operations etc. Looking to the nature of services outsourced, it was held that the same were basically clerical services of repetitive nature of work […]
In the absence of any material to establish that the affiliated colleges/centres were rendering services of professional or technical nature in the matter of conducting the University’s examination, we are of the opinion that the Tribunal has not committed any error of law in holding that the tax was not deductable on such reimbursement under Section 194J(b) of the Act.
Tax Deduction at Source (TDS) on payment by Individual/HUF to contractors and professionals under new section 194M At present there is no liability on an individual or Hindu undivided family (HUF) to deduct tax at source on any payment made to a resident contractor or professional when it is for personal use. Further, if the […]
Pr. CIT Vs DLF Commercial Projects Corporation (Delhi High Court) Neither the provisions of section 194C nor section 194J obliges the person making the payment to deduct anything from contractual payments such as those made for reimbursement of expenses, other than what is defined as “income”. The law thus obliges only amounts which fulfil the […]
CIT Vs Saifee Hospital Trust (Bombay High Court) The Assessing Officer held that services of catering rendered by M/s Monginis is technical service and therefore, deduction of tax at source by the respondent has to be under Section 194J of the Act. However, in appeal both the Commissioner of Income Tax (Appeals) (CIT(A)) as well […]
