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Income Tax - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

TDS U/s 194H - payment of bank guarantee, brokerage - The ...

Income Tax

March 1, 2016

TDS U/s 194H - payment of bank guarantee, brokerage - The relation between the assessee and the bank is not principal and agent, the commission of bank guarantee is not covered by the explanation (i), therefore, no TDS is liable to be deducted - AT

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  2. 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.

  3. TDS u/s 194H - assessee is not required to deduct tax at source under section 194H of the Act in respect of bank guarantee commission/charges paid to banks.- AT

  4. 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

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  6. Tax liability - Banking and other financial services - Merely because the remuneration is designated as 'brokerage' and because the recipient of that 'brokerage' is a...

  7. TDS u/s 194H - advertisement agencies - what is liable for TDS is commission of brokerage and not the incentives given on the basis of principal to principal relations - HC

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  9. 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

  10. RCM - payment of guarantee fee towards receipt of Bank Guarantees - These are not the guarantees provided by a corporation for it’s subsidiaries but are pure bank...

 

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