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2010 (1) TMI 647 - ITAT, BANGALOREAssessee in default - Survey - TDS - Demand - The assessee as well as Trishul bills their respective clients separately in their names and collect the advertisement charges in their respective names after deduction of TDS - scope of an advertising contract for the purpose of section 194C of the Act - During the course of the consideration of the Finance Bill, 1995, the Finance Minister clarified on the floor of the House that the amended provisions of tax deduction at source would apply when a client makes payment to an advertising agency and not when an advertising agency makes payment to the media, which includes both print and electronic media - The deduction is required to be made at the rate of 1 per cent Whether the advertising agency would deduct tax at source out of payments made to the media - The answer to the question is given in negative - . In the result, the assessee's appeals for the assessment years 2005-06, 2006-07 and 2007-08 are allowed
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