Interest received on delayed compensation - TDS and interest ...

Assessee pays taxes on delayed compensation interest for five parties; TDS certificate issued in assessee's name.

November 13, 2019

Case Laws Income Tax AT

Interest received on delayed compensation - TDS and interest belong to 5 parties - TDS certificate was issued in the name of the assessee and accordingly the assessee has paid the taxes due on such income on behalf of all other parties. - it is immaterial whether other parties have paid the taxes on such income.

View Source

← Previous Next →

Interest received on delayed compensation - TDS and interest ...

Assessee pays taxes on delayed compensation interest for five parties; TDS certificate issued in assessee's name.

November 13, 2019

Case Laws Income Tax AT

You may also like:

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:...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

TDS u/s 194A OR 194C - short deduction of TDS - compensation paid by the assessee for breach of contract u/s.40(a)(ia) - If at all there is shortfall in TDS deducted by...

The case involved a dispute over short collection of TDS due to lower TDS certificates with different TANs issued by deductees. The Central Processing Centre (CPC)...

Liability to pay interest on delayed payment of VAT - The assessee was required to pay the tax payable in accordance with the provisions of Section 14 of the HVAT Act...

Tax deducted at source (TDS) credit against enhanced compensation received under Land Acquisition Act. Petitioner's application for revised tax return rejected based on...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Disallowance on account of interest paid on delayed payment of TDS - as the tax deducted at source (TDS) is not in the nature of the income tax which is required to be...

The appeal was made regarding the incorrect charge of interest u/s 234B of the Act in an order passed u/ss 254, 143(3), and 153A. The issue was whether the assessee...

Liability of Insurance Company to deduct income tax at source (TDS) on the interest paid on the compensation paid under Motor Vehicles Act, 1988 - the interest paid...

TDS u/s 194LA - compensation amount paid on account of acquisition of land - High Court concluded that, after looking at from any angle, as long as the award is made...

Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

Penalty u/s 271C - assessee did not remit the TDS on the due date - Only because of these hardships there was delay in remitting the TDS. Therefore, there is reasonable...

The case involves TDS issues u/s 194A, 194H, and 194J concerning surplus interest retained by NBFCs. The assessee, a bank, purchased loans from NBFCs with a tripartite...

Quick Updates: