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Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Omission of sections 194K and 194L. - TDS - Bill seeks to omit ...

Bill

March 2, 2016

Omission of sections 194K and 194L. - TDS - Bill seeks to omit section 194K relating to income in respect of units and section 194L relating to payment of compensation on acquisition of capital asset, of the Income-tax Act with effect from 1st June, 2016.

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  2. Omission of sections 62 and 63 of Customs Act, 1962 - To omit the provisions regarding Control over warehoused goods and Payment of rent and warehouse charges

  3. 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 -...

  4. 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

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

  6. TDS u/s 195 - withholding demands under section 201 - A tax withholding liability, particularly under section 195, is a vicarious liability and its survival entirely...

  7. Omission of section 9 of Customs Act 1962 - Power to declare places to be warehousing stations omitted.

  8. Computation of deduction u/s 80IA - eligible business shall be treated as the only source of income- Assessee is eligible to deduction without adjustment of loss of other unit.

  9. TDS u/s 195 - section 195 itself is quite explicit in its language while providing withholding of tax in respect of any payment, which is chargeable to tax in India....

  10. Deletion made on non-deduction of tax u/s 40(a)(ia) - TDS u/s 192 - reimbursement of salary to the deputed personnel would not attract deduction of tax at source - AT

 

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