Income Tax : This guide explains the tax exemptions, concessional tax rates, presumptive taxation schemes, and compliance benefits available to...
Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : This guide explains when Section 206AA requires TDS at a higher rate due to non-furnishing of PAN and the applicable exceptions. I...
Income Tax : Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and complia...
Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Income Tax : Introduction: The Government of India, through the Ministry of Finance’s Department of Revenue, has provided essential updat...
Income Tax : Under the current provisions of Section 206AA, tax is required to be deducted by the deductor at a higher rate as prescribed under...
Income Tax : Rationalisation of With-Holding Tax (WHT) to Encourage Greater Subscription in Indian Debt Securities by Foreign Investors, Encour...
Income Tax : The Finance (No.2) Act of 2009 introduced section 206AA under the Income Tax Act, 1961 (the ITA) to provide that any person who is...
Income Tax : The Finance Act, 2009 introduced new provisions (section 206AA) in the Income-tax Act, 1961 (the Act). As per these provisions any...
Income Tax : The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefo...
Income Tax : The Tribunal held that no TDS demand can survive where tax was duly deposited and PAN became operative within the CBDT-prescribed ...
Income Tax : The Tribunal examined whether tax was short-deducted on remittances to non-resident shareholders. It held that TDS at 11.54%, deri...
Corporate Law : The Court clarified that rental payments for aircraft engines fall under equipment per the India-Netherlands DTAA, and beneficial ...
Income Tax : The Delhi High Court held that TDS for non-residents without PAN should follow DTAA rates, not the 20% rate under Section 206AA. T...
Income Tax : DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of...
Income Tax : 37BC. Relaxation from deduction of tax at higher rate under section 206AA.– (1) In the case of a non-resident, not being a compa...
The Supreme Court ruled that TDS on payments to non-residents cannot exceed treaty-specified rates, even if PAN is not provided, ensuring DTAA provisions prevail over Section 206AA.
The Court clarified that rental payments for aircraft engines fall under equipment per the India-Netherlands DTAA, and beneficial DTAA rates apply for TDS. Section 206AA cannot override these provisions.
The Delhi High Court held that TDS for non-residents without PAN should follow DTAA rates, not the 20% rate under Section 206AA. The ruling confirms treaty provisions override procedural domestic laws.
Supreme Court dismissed SLPs, confirming that DTAA rates override Section 206AA for non-residents without PAN. The case follows the Air India ratio, providing legal finality on TDS obligations.
Gujarat High Court held that since provisions of DTAA would override the provisions of the Domestic Act where the provisions of the DTAA are more beneficial to the assessee. Thus, section 206AA of the Income Tax Act doesn’t override the provisions of 90(2) of the Income Tax Act.
The Tribunal therefore, has rightly affirmed the conclusion arrived at by CIT(Appeals) in deleting the tax demand relatable to difference between 20% and the actual tax rate on which tax was deducted by the respondent assessee in terms of the relevant DTAAS.
Assessee was incorporated in Japan and was in the business of providing telecommunication services. Assessee provided fixed, mobile, wholesale, and associated telecommunication services across the globe.
ITAT Ahmedabad upheld decision of CIT(A), ruling in favor of Nirma Limited. The nature of payments for vessel damage was deemed as reimbursement and capital in nature, not falling under Section 5(2) of the Act. The appeal by Revenue was dismissed, affirming the cancellation of TDS deduction on the payment of USD 4,50,000.
ITAT Jaipur held that requirement of TDS deduction u/s. 194C of the Income Tax Act on payments made to Eco Development Committee remanded back to AO with a direction to relook on various aspects.
Introduction: The Government of India, through the Ministry of Finance’s Department of Revenue, has provided essential updates on PAN-Aadhaar linking. Addressing specific queries from Rajya Sabha member Smt. Phulo Devi Netam, the Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, has shed light on PAN-Aadhaar linkage statistics, inactivation details, consequences, and the […]
