Income Tax : When a resident buys unlisted shares from a non-resident, TDS must be deducted on gross consideration under Section 195, subject t...
Income Tax : Payments for sports sponsorship that grant global trademark usage can be split as royalty. Courts upheld withholding where tradema...
Income Tax : When only one spouse pays for a jointly owned property, TDS liability rests with the paying spouse. Builders’ insistence on both...
Income Tax : Buyers must deduct TDS under Section 195 on amounts paid to NRI sellers, deposit by the 7th of the following month, and not rely o...
Income Tax : Section 194-IA mandates 1% TDS on immovable property purchases from resident sellers if consideration or stamp duty value is ₹50...
Income Tax : Direct & Indirect Taxes : Monthly Updates Date & Time – 3rd December 2022 (Time:11 a.m to 12:30 p.m) Tax Guru is Organiz...
Income Tax : Clarification on certain procedural and technical issues regarding the Income Disclosure Scheme, 2016 (IDS) under section 119 of t...
Income Tax : Finance Act, 2012 extended the obligation to withhold taxes to non- residents irrespective of whether the non-resident has -...
Income Tax : Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Re...
Income Tax : The Supreme Court judgement on Vodafone tax case seems to have opened a Pandora's box with exporters too expressing reservation on...
Income Tax : The Tribunal held that absence of a clear charge in the penalty notice makes the proceedings invalid. It ruled that failure to spe...
Income Tax : The Tribunal held that commission paid to foreign agents for services rendered outside India is not taxable in India. Consequently...
Income Tax : Bombay High Court held that application for NIL withholding tax certificate rightly rejected since matter of taxability of fees fo...
Income Tax : The Tribunal held that consultancy payments for architectural services were not FTS since no technical knowledge was made availabl...
Income Tax : The Tribunal rejected the Revenue’s argument that taxpayers must seek AO determination under Section 195(2) in all cases. It hel...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : it has been decided that no such request for Form 15E for certificates under section 195(2) & 195(7) for a particular Financial Ye...
Income Tax : CBDT vide notification No. 18/2021-Income Tax, Dated: March 16, 2021 inserted new rule 29BA. Application for grant of certificate ...
Income Tax : Clarification on orders dated 31.03.2020 and 03.04.2020 issued under section 119 of the Income-tax Act, 1961 (the Act) by CBDT vid...
Income Tax : In case of pending applications for lower/nil rate of TDS/TCS for F.Y. 2019-20, the Assessing Officers have been directed to dispo...
Sub: Deduction of tax at source under Section 195 read with Sections 201 of the Income-tax Act, 1961 relating to payment made to a non-resident-reg. Section 195 of the Income-tax Act (hereafter referred to as ‘the Act’) provides that any person, responsible for paying to a non-resident not being a company or to a foreign company, any sum chargeable under the provisions of this Act, shall at the time of credit of such income to the account of the payee or at the time of payment thereof, whichever is earlier,
It is not in dispute that Mrs. Shyamala Vijai and Mrs. Poornima Shivaram were entitled to half share each over the property that was sold to the appellant. In fact, as we have already seen, the sale deed clearly acknowledges the receipt of sale consideration of Rs.1 .20 crore by both the vendors
Case of the assessee is covered by sub-clause (b) of clause 2 of Circular No. 7 dated 23-10-2007 and it is also covered by clause 2(b) of Circular No. 790 dated 20.04.2000. In para 2.1 of Circular 7 dated 23-10-2007, it is clearly provided that once the amount already remitted in pursuance
It was contended by the ld. counsel for the assessee that since the AO has passed an order u/s. 195(2) of the Act allowing the assessee to issue shares without tax deduction at source, the issue of shares made by the assessee on 30.03.2004 and 30.09.2004 cannot be the subject-matter of proceedings u/s. 201(1) & 201(1A) of the Act.
In this case Payment was made for reimbursement of the permission granted to the assessee for using trade mark ‘Wool, New Zealand’. Such payment cannot be said to be fee for technical services. Even otherwise also, in the light of the detailed discussions made in paragraph nos. 13, 14 and 15 of this order, such reimbursement of expenses are not subject to TDS. Accordingly, no disallowance is warranted. The addition of Rs. 2,88,135/- is deleted.
The service which is rendered by the Google is generation of certain text on the search engine result page. This is a wholly automated process. There is no dispute that in the services rendered by the search engines, which provide these advertising opportunities, there is no human touch at all. The results are completely automated and, as evident from the screenshots we have reproduced earlier in this order, these results are produced in a fraction of a second- 0.27 seconds in the screenshot reproduced earlier.
In respect of a taxpayer to whom the double taxation avoidance agreement applies, the provisions of the Indian Income-tax Act shall apply to the extent they are more beneficial to that taxpayer. In other words, if the provisions of DTAA are more beneficial to the taxpayer, then the provisions of DTAA would prevail over the Indian Income-tax Act. Since the DTAA is silent about the surcharge and education cess for the purpose of deduction of tax at source, this Tribunal is of the considered opinion that the taxpayer may take advantage of that provision in the DTAA for deduction of tax. The CIT(A) has only deleted the tax component to the extent of surcharge and education cess at the rate applicable under the DTAA. Therefore, this Tribunal do not find any infirmity in the orders of lower authority. Accordingly the same are confirmed.
The Finance Minister of India presented his last Union Budget 2013 (The Budget)amidst rough financial environment. The Budget proposals comein light of the current challenging economic scenario.It is clear that Indian economy is not insulated from the global slowdown. The Indian downtrend has forced the Finance Minister to recommend slew of fiscal/monetary measures to revive the economy.
It is one of the emerging challenges for the Entities availing service through import of services to calculate actual amount of Service Tax under reverse charge mechanism of Finance Act and also to calculate the amount of TDS to be deposited under section 195 of Income tax Act, 1961. Due to involvement of both Direct […]
In the instant case also services were provided by the assessee outside India and for this business the services of non-residents were utilized to whom technical fee in question was paid. No good reason could be shown by the DR as to why the aforesaid decision of the Tribunal is not applicable in the instant case and why the said decision should not be followed in the instant case. We, therefore, following the above decision, hold that the services of non-residents to whom the technical fee of Rs. 74,63,768/- was paid by the assessee were utilized for the business which was carried out outside India for earning income from a source outside India. Therefore, the grounds of appeal of the assessee are allowed.
