Section 197

Liability to deduct section 194R TDS on Benefit or Perquisite in Business or Profession

Income Tax - Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite....

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Section 197 Certificate For TDS Deduction at Lower Rate

Income Tax - (1) What is Section 197 of Income Tax Act, 1961? Section 197 of the Income Tax Act, 1961 allows the taxpayer the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). In order to apply for this you need to submit Form 13 to the assessing officer. Also, this section strikes a delicate balance […]...

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Lower Tax Deduction Certificate: How to Apply

Income Tax - Section 197 of Income Tax Act, 1961 contains the provisions for Lower Deduction Certificate. Generally, where the actual income tax liability on the income of the assessee is less than the TDS which has been deducted by the payer as per Chapter-XVII, then it may cause a major problem of working capital management for the […]...

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Remuneration of KMPs | Section 197 & 198 | Companies Act, 2013

Income Tax - Section: 197 of the  Companies Act, 2013 Remuneration to Key Managerial Personnel 1. Maximum ceiling for payment of Managerial Remuneration Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company to its managing director whole-time director and manager which shall n...

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TDS Provisions related to Small Businesses & Covid 19 Relief

Income Tax - TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. [&he...

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Withholding certificate at a low tax rate cannot be rejected for demand due to pending rectification applications

Jones LNG Lasalle Property Consultants (India) Private Limited Vs DCIT (Delhi High Court) - Withholding certificate at a low tax rate rejected for huge outstanding demand, although same were due to pending rectification applications...

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Section 197(1)TDS certificate – Difference of opinion – SC refers matter to Large Bench

National Petroleum Construction Company Vs DCIT (Supreme Court of India) - National Petroleum Construction Company Vs DCIT (Supreme Court of India) Indira Banerjee, J. Leave granted. 2. This appeal is against the judgment and final order dated 20th December 2019 passed by High Court of Delhi dismissing the Writ Petition being Writ Petition (C) No.8527 of 2019 filed by the ...

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Section 197 certificates must be preceded by an order

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (TDS) (Bombay High Court) - Tata Teleservices (Maharashtra) Ltd. Vs DCIT (Bombay High Court) Before issuance of certificates under section 197 of the Act, the same must be preceded by an order. That order must disclose reasons and is an order passed in exercise of quasi-judicial powers. Such an order can be assailed in revisio...

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HC Set Aside Order Rejecting Application for Lower or Nil TDS Deduction Certificate

Vijaykumar Satramdas Lakhani Vs CBDT and Ors. (Bombay High Court) - The issue under consideration is whether the AO's order for rejecting the application for issuance of a certificate for lower deduction or nil deduction u/s 197 is justified in law?...

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Recent Posts in "Section 197"

Withholding certificate at a low tax rate cannot be rejected for demand due to pending rectification applications

Jones LNG Lasalle Property Consultants (India) Private Limited Vs DCIT (Delhi High Court)

Withholding certificate at a low tax rate rejected for huge outstanding demand, although same were due to pending rectification applications...

Read More

Section 197(1)TDS certificate – Difference of opinion – SC refers matter to Large Bench

National Petroleum Construction Company Vs DCIT (Supreme Court of India)

National Petroleum Construction Company Vs DCIT (Supreme Court of India) Indira Banerjee, J. Leave granted. 2. This appeal is against the judgment and final order dated 20th December 2019 passed by High Court of Delhi dismissing the Writ Petition being Writ Petition (C) No.8527 of 2019 filed by the Appellant against the refusal of the [&h...

Read More

Liability to deduct section 194R TDS on Benefit or Perquisite in Business or Profession

Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite....

Read More
Posted Under: Income Tax |

Section 197 Certificate For TDS Deduction at Lower Rate

(1) What is Section 197 of Income Tax Act, 1961? Section 197 of the Income Tax Act, 1961 allows the taxpayer the facility of NIL or Lower tax rate deduction of TDS (or TDS exemption). In order to apply for this you need to submit Form 13 to the assessing officer. Also, this section strikes a delicate balance […]...

Read More
Posted Under: Income Tax |

Lower Tax Deduction Certificate: How to Apply

Section 197 of Income Tax Act, 1961 contains the provisions for Lower Deduction Certificate. Generally, where the actual income tax liability on the income of the assessee is less than the TDS which has been deducted by the payer as per Chapter-XVII, then it may cause a major problem of working capital management for the […]...

Read More
Posted Under: Income Tax |

Section 197 certificates must be preceded by an order

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (TDS) (Bombay High Court)

Tata Teleservices (Maharashtra) Ltd. Vs DCIT (Bombay High Court) Before issuance of certificates under section 197 of the Act, the same must be preceded by an order. That order must disclose reasons and is an order passed in exercise of quasi-judicial powers. Such an order can be assailed in revision under section 264 of the […]...

Read More

HC Set Aside Order Rejecting Application for Lower or Nil TDS Deduction Certificate

Vijaykumar Satramdas Lakhani Vs CBDT and Ors. (Bombay High Court)

The issue under consideration is whether the AO's order for rejecting the application for issuance of a certificate for lower deduction or nil deduction u/s 197 is justified in law?...

Read More

Remuneration of KMPs | Section 197 & 198 | Companies Act, 2013

Section: 197 of the  Companies Act, 2013 Remuneration to Key Managerial Personnel 1. Maximum ceiling for payment of Managerial Remuneration Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company to its managing director whole-time director and manager which shall n...

Read More
Posted Under: Income Tax |

TDS Provisions related to Small Businesses & Covid 19 Relief

TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. [&he...

Read More
Posted Under: Income Tax |

Lower or nil rate tax deduction certificate- Duty of deductor

Actions to be taken by the deductor on receipt of the certificate: Please validate the PAN of the deductee submitting the certificate. The Certificate should be valid for the PAN, Section and Rate which has been mentioned in the statement filed. Check that the certificate is valid for the relevant Financial Year....

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Posted Under: Income Tax |

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