Home Highlights July 2013 Year 2013 This

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1. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

2. TDS u/s 194C or 194I - default u/s. 201(1) - short deduction of TDS - Payment of common area maintenance charges (CAM charges) - the payments made towards CAM charges...

3. Tax deducted at source (TDS) issue related to agency services payments. Assessee demonstrated Form No. 3CD and Annexure D, showing TDS deducted u/s 194C on payments to...

4. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

5. TDS u/s 194C - Non deduction of TDS on payment to the persons who were not the owner of the vehicle - The Tribunal interpreted the term "owns" in section 194C(6) to...

6. 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...

7. Liability to deduct TDS u/s 194C - cinecasting/distribution of movies would be outside the purview of section 194C of the Income Tax Act, 1961 requiring tax deduction at...

8. Procedural lapses by third parties should not deprive taxpayers of TDS credit when they have acted in good faith and declared income. Section 205 bars direct tax...

9. The High Court held that the capital grant subsidy or viability gap funding provided by the National Highways Authority of India (NHAI) to its Concessionaires for...

10. TDS u/s 194I or 194C - storage charges paid by assessee - TDS @ 20% - The ITAT concluded that assessee is liable to deduct Tax at Source u/s 194C - The High court...

11. The ITAT held that when the principal amount of income subjected to tax deducted at source (TDS) bears an element of uncertainty and irrecoverability, the TDS deposited...

12. The ITAT ruled on various tax issues. Regarding TDS u/s 195, payments for bare-boat charter hire were not subject to tax in India due to DTAA with Belgium. TP adjustment...

13. The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of the...

14. TDS u/s 195 - reinsurance premium ceded to non-resident reinsurer is not taxable in India under the Income Tax Act, 1961 or under DTAA between India and respective...

15. TDS disallowance u/s 40(a)(i) for non-deduction on overseas payments towards patent fees, reimbursement of official fees and professional fees, treating such payments as...