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Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

AO was not justified in treating the payment of incentives to ...

Income Tax

June 24, 2014

AO was not justified in treating the payment of incentives to the dealers as well as to another distributor, as payment of commission liable to TDS under section 194H of the Act - AT

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  1. Section 194S : TDS on payment on transfer of virtual digital asset - Deduction of Tax at Source (TDS), Collection of Tax at Source (TCS) / Withholding Tax

  2. The amount of discount offered to prepaid distributor was in nature of commission and liable to tax deduction at source under Section 194H - AT

  3. Payments to overseas subsidiary towards sub contracting charges will not be liable for deduction of tax at source u/s 195 as there is no income chargeable to tax in India - AAR

  4. TDS u/s 194H - Commission payment made to NPCI - the payment made to NFS could not be considered as commission or brokerage liable for deduction at source.

  5. Denial of deduction u/s 54F - Compensation received treated as income from undisclosed source – The gains arising on the transfer of such asset is liable to be treated...

  6. TDS u/s 194H - Supply of SIM card and recharge coupon - expenditure claimed under the head "dealer's scheme and incentives" - The amount is in the nature of...

  7. Application u/s 197 - reduction of withholding tax - petitioner had sought a certificate, at “NIL” rate of tax - request to issue certificate at lower was rejected -...

  8. Business Auxiliary Service - target incentives not liable to service tax - AT

  9. Service tax liability - the target incentives received by the authorized dealer cannot be subjected to service tax under the category of "BAS" - AT

  10. TDS u/s 194J OR 194I - Applicability of Tax Deduction at Source on payments towards internet & communication charges - lease line charges - No TDS liability

 

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