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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Credit of TDS can be given only in the hands where income ...


TDS Credit Allocated to Joint Venture Member Where Income Is Taxed, Not the Joint Venture Itself.

August 22, 2016

Case Laws     Income Tax     HC

Credit of TDS can be given only in the hands where income therefrom is subjected to tax. If accrual of income in respect of the receipts received dejure by joint venture is shifted to a member of the joint venture through an overriding title, then credit of TDS in respect of such receipts should be considered in the hands of that member of the joint venture in whose hands such income is found assessabl - HC

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