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Income Tax - Highlights / Catch Notes

Home Highlights December 2018 Year 2018 This

TDS u/s 194A - addition on account of Letter of Credit (LC) ...


TDS Not Applicable on LC Discount Charges u/s 194A; Reimbursement to Suppliers Exempt from TDS Liability.

December 27, 2018

Case Laws     Income Tax     HC

TDS u/s 194A - addition on account of Letter of Credit (LC) discount charges u/s 40(a)(ia) - the assessee has not made payment of interest to the bank or to the supplier and the amount credited to the suppliers’ account is towards reimbursement of expenses incurred by the suppliers - No TDS liability.

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