Tag: TDS

Reduction in TDS rate on fees for technical services u/s Section 194J of the Income Tax Act Reduction in TDS rate u/s Section 194J  Section 194J of the Income Tax Act provides that a person other than an individual or a HUF who is responsible for paying to …

TDS to be deducted by Individual/HUF u/s 194M on payment exceeding 50 lakhs to contractors and professionals even for personal work w.e.f. 01.09.2019 At present, under Income Tax Act, there is no provision placing a liability on an individual or Hindu undivided family (HUF) to deduct tax at …

Income Tax Department has issued an advisory for payment of monthly rent over Rs. 50000/- ITD has cautioned individuals/HUFs (except those liable tax audit u/s 44AB(a) and (b), paying rent to a resident in excess of Rs. 50000/-. The ITD has advised such payers to deduct TDS @ 5% …

TDS Deduction Requirement for entities whose income is exempt us 10 unconditionally and who are also statutorily not required  to file return u/s 139  F. No. 385/01/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct taxes North Block, New Delhi 29th may, 2017 …

Reimbursement of expenses not “Work” to fall within the ambit of TDS under section 194C ITAT Delhi in a recent judgment has held that reimbursement of respective shares in composite expenses incurred by the group companies is not covered under deduction of tax at source (TDS) liability u/s 194C. Case …

TDS default Proceedings u/s 201/201A can not be initiated unless it is found that deductee has also failed to pay tax directly INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘A’ : NEW DELHI) ITA Nos.5992, 5993 & 5994/Del./2012 (ASSESSMENT YEARS : 2002-03, 2003-04 & 2004-05) The Branch Manager, vs. …

Form 15G 15H for receiving Rent Payments without TDS deduction from 01-06-2016. Budget 2016-17 amendment to section 197A and 194I Enabling of Filing of Form 15G/15H for rental payments The provision of sub-section 194-I of the Income Tax Act, 1961 provides for tax deduction at source (TDS) for …

TDS on payments by broadcasters/TV channels to production houses for production of content, programme for telecasting Circular No.4/2016 F.No.275/07/20 16-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes (CBDT) North Block, New Delhi, the 29th of February, 2016 Sub: Tax Deduction at Source (TDS) on payments …

No TDS on payments by TV channels / newspaper companies to advertising agency for booking/procuring/canvassing advertisements Circular No.5/2016 Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes North Block, New Delhi, the 29th of February, 2016 Sub: Tax Deduction at Source (TDS) on payments by television …