The CBDT has issued Instruction No. 02/2014 dated 26.02.2014 in which it has referred to the judgements of the Supreme Court inTransmission Corp of A. P. 299 ITR 587 and GE India Technology Pvt. Ltd 327 ITR 456 on the issue of deduction of tax at source u/s 195 while making payments to non-residents. The CBDT has directed AOs u/s 119 that in a case where the assessee fails to deduct TDS u/s 195, the AO cannot treat the whole sum remitted to the non-resident as being chargeable to tax but he has to determine the appropriate proportion of the sum chargeable to tax as mentioned in s. 195(1) for treating the assessee as being in default u/s 201
Subscribe to:
Post Comments (Atom)
Bombay High Court Clarifies Tax Exemption Eligibility for Venture Capital Funds
In a significant ruling, the Bombay High Court has reaffirmed that a Venture Capital Fund (VCF) registered with SEBI is entitled to claim ...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Facts Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK Centrica Plc a...
-
The Tax Audit season has started and it’s the time when the Assessees rush to their Chartered Accountants (CA) to get their Tax Audit d...
-
SREI Infrastructure Finance Ltd vs. ITSC (Delhi High Court) The assessee entered into a scheme of arrangement u/s 391-394 of the Compani...
-
Facts The taxpayer, a partnership firm, derived income from the business of handling and transport of ship containers, customs clearing a...
-
M/s. Alpha Projects Society P. Ltd vs. DCIT (ITAT Ahmedabad) In AY 2005-06, the assessee made payments to contractors & for professi...
-
01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
-
F.No.354/66/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs...
-
M/s. Merilyn Shipping & Transports vs. ACIT (ITAT Visakhapatnam Special Bench) The assessee incurred brokerage expenses of Rs.38....
No comments:
Post a Comment