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ITAT Chandigarh held that tax authorities cannot enforce any demand on the deductee if the amount of TDS deducted by the dedutor is not deposited with the Government.
TDS on salary income of a non-resident individual shall be deducted u/s 192 of the Income Tax Act, 1961 at the applicable slab rates. Tax liability for the whole year shall be calculated on the prospective salary income of the non-resident and such determined tax shall be then deducted from the payment to be made of salary, in twelve monthly installments.
Interest on TDS is not interest paid on income tax per se and the disallowance thereof, is unwarranted and interest paid for delayed deposit of TDS cannot be equated to penalty or breach of law.
Shri Gopinathan Vs ITO (ITAT Chennai) It is not the case of the Department that the Assessing Officer has omitted to consider the claim of expenses and thereby passed the rectification order under section 154 of the Act. In this case assessment was reopened under section 147 of the Act and during the course of […]
Disallowance u/s 40(a)(ia) cannot be made if recipient has offered payment made by assessee as income in their hands. The Assessing Officer is directed to verify above facts and if it is found that payee has already offered above amount as income in their return of income, disallowance u/s.40(a)(ia) made by Assessing Officer would not survive.
ITAT Delhi held that TDS provisions are not applicable in case of commission paid to bank and commission paid to partners. Accordingly, disallowance u/s 40(a)(ia) unsustainable.
Understand TDS implications on society redevelopment transactions. Explore FAQs and clarifications on TDS under Sections 194IA and 194IC, covering applicable amounts, deposit procedures, NRI considerations, and more. Stay informed to navigate TDS in society redevelopment agreements.
ITAT Bangalore held that expression expenditure also includes loss and therefore the difference between the price at which the shares are issued to the employees and the market value of the shares would be expenditure incurred for section 37(1) of the Income Tax Act
Understand TDS applicability in development agreements with insights into Sections 194IC and 194IA of the Income Tax Act. Explore the criteria, exceptions, and analysis for effective compliance.
Anand And Anand appeal success against ACIT order. ITAT Delhi ruling on TDS provisions. Key legal insights by Anand Bhattacharya, tax expert.