Home Highlights November 2014 Year 2014 This

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1. Non-deduction of TDS on transaction charges on payment made to Stock Exchanges - transaction charges are in the nature of payments made for facilities provided by the...

2. TDS on Transaction charges paid to the stock exchanges u/s 194J - liable to deduct tax at source while crediting the transaction charges to the account of the stock...

3. Charges paid to Stock Exchange viz. VSAT charges, lease line charges, Transaction charges are in the nature of reimbursement of charges paid by the Members of Stock...

4. TDS u/s 194J - transaction charges paid by a member of the Bombay Stock Exchange to transact business of sale and purchase of shares - whether amounts to payment of a...

5. TDS u/s 194I - TDS liability on payment development charges, lease charges and other charges paid to RIICO - the development charges can not be considered as rent - AT

6. Stock Broking service - Valuation - inclusion of Misc. charges, turnover charges, Trade Guarantee Fund (TGF), Investor's Protection Fund (IPF), Stamp duty, Stock...

7. TDS liability - Factoring/discounting charges cannot be treated as interest for the purpose of 194A - HC

8. TDS liability on wheeling charges - "wheeling charges" did not amount to "fees for technical services" within the meaning of Section 194J - No tds liability - SC

9. TDS u/s 195 - Usance charges were paid or were payable to a non resident supplier - Since in the present case, the assesses imported the raw material for its consumption...

10. Stock broker which requires multiple registrations to operate on more than one stock exchange(s) or a single registration will suffice for all the stock exchanges -...

11. TDS u/s 194C or 194I - short deduction of TDS - CAM charges Maintenance Charges along with Rent - the CAM charges paid by the assessee did not form part of the actual...

12. Section 14A disallowance restricted to 2% of exempt income due to inapplicability of Rule 8D for the relevant assessment year. TDS disallowance u/s 40(a)(ia) upheld for...

13. The applicant is required to pay GST on the charges paid to Indian Railways for various services received, as the applicant is the recipient of these services from...

14. TDS u/s 194J OR 194I - Applicability of Tax Deduction at Source on payments towards internet & communication charges - lease line charges - No TDS liability

15. Short deduction / collection of Security Transaction Tax (STT) - Liability of National Stock Exchange (NSE) - On occasions where client codes for institutional trades...