Advance payment received of Business receipts – Accrual of ...

Case Laws Income Tax

November 1, 2013

Advance payment received of Business receipts – Accrual of income - just because the amount was covered by the TDS as per the provisions of section 194C, the same cannot be considered as income - AT

View Source

← Previous Next →

Advance payment received of Business receipts – Accrual of ...

Case Laws Income Tax

November 1, 2013

You may also like:

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

Interest u/s 234B - Shortfall in payment of advance tax - TDS was not deducted on the income received by the payer - prior to the financial year 2012-13, the amount of...

Taxability of amount on which TDS credit has been claimed - Merely because TDS has been deducted, advances cannot be treated as income - as the assessee has claimed TDS...

Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization...

Levy of service tax - negative debtors - advance payment received from their clients (and accounted under the head ‘debtors’ indicating negative) - The tribunal held...

Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

Assessment of income - receipt basis or accrual basis - income received in advance in the nature of interest income on discounting of bills against letter of credit - if...

The assessee, following the mercantile system of accounting, had treated Annual Maintenance Charges (AMC) collected in advance from customers for lift maintenance as a...

TDS u/s 194IA - payment for land advance - non-deduction of TDS in violation of Section 40(a)(ia) - the provisions of Section 40(a)(ia) are applicable only to the...

Mall upkeep and promotional fees received by the assessee - amount of maintenance charges received were business receipts assessable under the head 'business income'.... - HC

The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

Accrual of income - Money received under Marketing Assistance Programme [“MAP”] - It is also surprising that the AO chose to treat only the difference between the...

Accrual of income - taxability of advances received - Merely because an amount has been entered into in assessee’s book, is not conclusive proof that income has accrued - AT

Levy of GST - time of supply - Mobilization Advance received - On reading the Receipt voucher no RTGS 223033 dated 8-2-21, the recipient deducted TDS under Section 51...

Accrual of income – claim of credit for the tax deducted (TDS) does not make the assessee “bound” to pay tax on the receipts, unless such receipts constitute income in...

Quick Updates: