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Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Deduction of tax at source u/s. 195 - it is proved that assessee ...

Income Tax

June 8, 2015

Deduction of tax at source u/s. 195 - it is proved that assessee is merely a trader of software products of the foreign company - payment made is not in the nature of 'royalty'. - AT

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  3. Interest u/s 234B is not chargeable since ECB interest received by the assessee from the borrowers was subject to tax deduction at source u/s 195 - AT

  4. TDS u/s 195 - assessee has purchased shrink wrap software or off-shelf software, which is copyrighted article and not purchased any copyright and hence the same is not...

  5. 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

  6. Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT

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  9. TDS u/ s 195 - Assessee Company was not liable to deduct the tax at source on the bank guarantee commission paid to a foreign bank - AT

  10. Denial of input tax credit - cancellation of the few traders with retrospective effect - failure to prove the actual purchase of the goods - credit was rightly denied - HC

 

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