Home Highlights January 2015 Year 2015 This

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1. TDS u/s 195 - Usance charges were paid or were payable to a non resident supplier - Since in the present case, the assesses imported the raw material for its consumption...

2. Interest u/s 2(28A) - Taxability and TDS u/s 195 - discounting bills of exchange and promissory note - discounting charges did not amount to interest and was not subject...

3. TDS u/s 195 - usance interest on delayed payment to its holding company - The assessees being responsible for paying to the non-residents usance interest which was...

4. Nature of 'Usance Interest' – The nexus of interest was only with the period from which the purchase price of the raw material became due viz., the date of bill of...

5. TDS u/s 195 - payment to abroad (USA / UK) of communication charges, commission charges, legal and professional charges, marketing & selling charges and business...

6. Interest on short payment of advance tax – failure on the part of payer to deduct TDS u/s 195(2) - no interest u/s 234B - AT

7. TDS u/s 194A - non deduction of tds on payment of hire charge - The payment of hire charges does not fall under the term interest as defined in section 2(28A) of the Act...

8. TDS u/s 195 - disallowance u/s 40(a)(i) - AO has invoked Explanation-2 to Sec.195(1) as inserted by Finance Act, 2012 w.r.e.f. 01.04.1962. However, the assessee could...

9. TDS u/s 195 - payment to non-resident for the purpose of testing charges FTS paid to KEMA Netherlands and CESI, Italy, TDS is, therefore, deductible u/s 195 - AT

10. TDS u/s 194A - Addition u/s 40(a(ia) - TDS on factoring charges - In the nature of interest or not - The transaction entered into by the assessee is with M/s SBI Global...

11. TDS u/s 195 - Demand u/s 201(1) and interest charged u/s 201(1A) - the year-end provisions made by the assessee included “Commission payable to non-residents”, which is...

12. Deduction of TDS - Interest u/s 2(28A) - Refund amount with interest to the flat purchasers/Petitioners as per the decree of the High Court - such a relationship does...

13. TDS u/s 195 - Disallowance of reimbursement of mobilization and demobilization expenses - there was no legal obligation u/s 195(1) on the assessee to deduct tax at...

14. TDS u/s 195 - interest income accrued in the hands of the foreign entity - There was no expenditure accrued during the previous year and also claimed and hence, the...

15. TDS u/s 195 - charter payments (hire charges) to Foreign Shipping Companies - the amount paid by the assessee to the FSC on time charter agreement would not amount to...