Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Discussions Forum
Home Forum Income Tax This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

TDS on Liquidated/Contractual damages, Income Tax

Issue Id: - 116712
Dated: 16-9-2020
By:- ROHIT GOEL
TDS on Liquidated/Contractual damages

  • Contents

Dear Sir,

As per facts of our client's case, they had entered into agreement with a power company for supply of solar power. The client had assured the power co. that whatever surplus power would be generated by the plant, the client would ensure that the power co. could supply same to the Grid and earn incomes.

However, the client could not obtain necessary approvals as a result of which the power co. suffered losses. Now as per the contract, the client has to pay compensation to the power co. My question is whether TDS would be deductible on this compensation/liquidated damages?

Post Reply

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 17-9-2020
By:- Ganeshan Kalyani

In my view, TDS is not applicable.


2 Dated: 18-9-2020
By:- YAGAY andSUN

There are plehthora of judgment on this matter.

Income Tax Appellate Tribunal - Kolkata

Eros Fashion Pvt Ltd., Kolkata vs Assessee on 20 November, 2015 = 2015 (11) TMI 1820 - ITAT KOLKATA


1

Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||