Income Tax : Understand TDS on rent with this guide. Learn about Section 194IB & 195 of the Income Tax Act, their differences, rates, and compl...
Income Tax : Unravel the complexities of Section 195 in India's Income Tax Act. Explore TDS rates, compliance steps, and strategies for non-res...
Income Tax : Learn about Section 194-IA and essential aspects of TDS when buying property in India. Explore deductor-deductee roles, exemption ...
Income Tax : Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....
Income Tax : Learn about tax procedures and implications when an NRI sells property in India to a resident. Explore how to reduce TDS and obtai...
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...
Corporate Law : Explore the implications of creditors initiating insolvency proceedings against personal guarantors under Section 95(1) of IBC in ...
Income Tax : In a case before ITAT Delhi, it was ruled that payment made overseas for tariff information does not constitute 'FTS', hence no TD...
Income Tax : ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital r...
Income Tax : Understand the grounds of appeal in the case against the final assessment order under the Income Tax Act, 1961, for AY 2017-18, in...
Income Tax : Assessee was incorporated in Japan and was in the business of providing telecommunication services. Assessee provided fixed, mobil...
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...
Income Tax : CBDT Order on issue of certificates for lower rate/nil deduction/collection of TDS or TCS uls 195, 197 and 206C (9) when Assesee w...
ITAT Chennai held that transaction of purchase of own shares by the appellant company is distribution of accumulated profits within the meaning of section 2(22) of the Income Tax Act, 1961. Accordingly, it is treated as dividend u/s. 2(22)(a)/2(22)(d) read with section 115-O of the Act.
Bombay High Court held that subject to doctrine of unjust enrichment, the taxes illegally levied must be refunded.
Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers.
Learn about tax procedures and implications when an NRI sells property in India to a resident. Explore how to reduce TDS and obtain a lower deduction certificate
ITAT Bangalore held that payments received towards interconnectivity utility charges from Indian customers / end users cannot be considered as Royalty to be brought to tax in India under section 9(1)(vi) of the Income Tax Act and also as per DTAA.
ITAT Ahmedabad held that tax deduction at source doesn’t apply to service which are neither availed nor rendered and not even utilized in India. Accordingly, disallowance u/s 40(a)(ia) unjustified.
ITAT Mumbai held that Nostro Account Maintenance Charges are in the nature of bank charges levied on transaction and the same are not subject to tax deduction at source u/s. 195 of the Act. Accordingly, disallowance of the same by invoking provisions of Section 40(a)(i) of the Act unjustified.
ITAT Delhi held that as there is no copyright on live events, the license fees for live and non-live transmission right cannot be taxed as royaty in terms of section 9(1)(vi) of the Income Tax Act. Accordingly, addition deleted.
Delhi High Court held that since no income chargeable to tax arose in the hands of the non-resident, as per the provisions of the Act, there was no obligation to deduct tax at source under Section 195 of the Act. Accordingly, disallowance u/s 40(a)(i) unjustified.
ITAT Delhi held that commission paid to foreign agents for procurement of orders do not fall under Technical, Managerial or consultancy services. Accordingly, TDS not deductible on commission paid to such foreign agents.
