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While dismissing the appeal filed by the revenue, the Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that interest under section 234B is not leviable in respect of payments to the non-resident assessee being subject to tax deduction at source under Section 195 of the Income Tax Act 1961.
It was held that the payment made for annual maintenance contracts would not fall under the category of fee for technical services within the meaning of provisions of section 194J of the Act.
M/s. Google India Private Ltd. Vs. Addl. CIT (ITAT Bangalore); TDS on royalty payments under section 195(2): Applicability of DTAA cannot be determined suo-moto by AO without there being any application
Facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of manufacturing and export of plain and studded Gold and Silver jewellery. It filed its return of income on 29.09.2010 declaring taxable income of Rs.2,83,03,490/-. During the course of assessment proceedings, the Assessing Officer observed that the assessee has debited expenses under the head Foreign Agency Commission amounting to Rs.62,12,609/-.
In the instant case, the deductee has filed the return of income on 14.12.2012 and the long term capital gains resulted into capital loss which resulted into nil demand. According to the assessee, there was no tax payable by the deductee on the transaction of sale of immovable property. When there is no tax payable by the deductee on sale of land, there is no question of charging interest u/s 201(1A) of the Act, as per instruction No.2 of 2014 dated 26.2.2014 and the circulars are binding on the Departmental officers. Therefore, we hold that there is no case for charging interest u/s 201(1A) of the Act as per instruction No.2 of 2014 and accordingly, the orders of the lower authorities are set aside and the appeal of the assessee is allowed.
ITAT held that that the payment made by the assessee to ICC amounting to Rs. 4.56 crore as `Rights fee’ is not in the nature of `Royalty’ or `Fees for technical services’ covered u/s 9(1)(vi) or 9(1(vii) of the Act and as such the assessee was not obliged to deduct tax at source on this payment. Ex consequenti, the provisions of section 40(a)(i) are not attracted.
By way of this appeal, the assessee appellant has challenged correctness of learned CIT(A)’s order dated 10th Jul 2012, in the matter of assessment under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the assessment year 2009-10.
TDS Rates Chart for Financial Year 2017-18/ Assessment Year 2018-19 vide Finance Act 2017 i.e Budget 2017-18. We have updated the TDS rate chart considering the amendments made by Finance Act, 2017.
The existing provisions of section 204 of Act, has defined the meaning of ‘person responsible for paying’ to include employer, company or its principal officer or the payer. Further clause (iii) of section 204 of the Act, inter alia, provides that in the case of credit or payment of any sum chargeable under the provisions of this Act
TDS Rate Chart: TDS/TCS Rates Chart for Financial Year 2016-17/ Assessment Year 2017-18 vide Finance Act 2016 i.e Budget 2016-17.
