Home Highlights January 2014 Year 2014 This

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1. TDS u/s 194I of the Income Tax Act - Lease premium - lumpsum payment - assessee has capitalized the lease premium in its books of accounts and treated the same as...

2. TDS u/s 194I - non deduction of TDS on the amount paid to the lessor towards lease premium - the lease premium to CIDCO is capital expenditure to acquire land with...

3. TDS u/s 194I or 194C - storage charges paid by assessee - TDS @ 20% - The ITAT concluded that assessee is liable to deduct Tax at Source u/s 194C - The High court...

4. 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:...

5. TDS u/s 195 - addition u/s 40(a)(i) - Since, there was clear law by the decision of Hon'ble Supreme Court, the assessee has made payment without deducting tax at source....

6. Mismatch of credit of TDS due to non-payment of TDS - benefit of tax deducted at source by the employer - Non deposit of TDS by the employer - Reference of Section 205...

7. Credit of the tax deducted at source (TDS) as TDS deducted by the employer - mis-match of tax deducted u/s 192 and the amount reflected in Form 26AS - The Court...

8. TDS u/s 194I premium paid for acquiring lease - payment for acquiring leasehold land is a capital expenditure - not liable for TDS u/s 194I - AT

9. TDS u/s 194I or 194J - payment made by the assessee to M/s. Sify Ltd. towards internet charges - the said amendment was made by Finance Act, 2012 w.r.e.f. 01.6.1976....

10. TDS u/s 195 not deducted on payment to Everest Global Inc. for software training services as source of income located outside India and payment made for services outside...

11. Rate of TDS - Non-availability of PAN - Benefit of treaty - in case of payments made to non-residents, the assessee was entitled to deduct taxes at source at the rates...

12. TDS u/s 194C - Non deduction of TDS on payments to shipping companies and CFS Agents - Addition u/s 40(a)(ia) - payments made by the assessee to shipping companies/CFS...

13. TDS u/s 194I - lease premium paid to Mumbai Metropolitan Regional Development Authority (“MMRD") - lump sum lease premium or one-time upfront lease charges, which are...

14. Addition u/s 40(a)(ia) - TDS u/s 194C - Freight charges paid - Liability for deducting tax at source for payments made to individual contractors above the monetary...

15. TDS u/s 194C or 194I - car rent expenses incurred by assessee - variation in threshold limit - the assessee has deducted TDS u/s. 194I in respect of one of the lessor,...