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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

TDS on bank guarantee commission - section 194H - It is not a ...

Income Tax

February 8, 2012

TDS on bank guarantee commission - section 194H - It is not a "commission" as understood in common parlance. Hence not liable to tax deduction and the question of interest under 201(1A) does not arise. .... - AT

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  2. TDS on the bank guarantee commission - section 194H is not applicable to the payments made to bank since it is not in the nature of “commission”, as it is understood in...

  3. TDS liability on Bank guarantee commission u/s 194A - Assessee in present case paid commission to bank not as an agent - there was no need to deduct TDS on the Bank...

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  8. TDS u/s 194H - Addition u/s 40(a)(ia)- assessee has paid Bank Guarantee Commission to Scheduled Banks approved by RBI - In the present case it is one of the banking...

  9. 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...

  10. Liquidation Proceedings - Invocation of Bank Guarantee - there is no material to show that any fraud was played by the Corporate Debtor in obtaining Bank Guarantee from...

  11. Commission income belonged to the HUF or assessee - Referring to TDS Certificate issued by Ajnara India Ltd. showing TDS on commission paid to HUF of the assessee and...

  12. 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

  13. 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

  14. Classification - VAT - Commissioner of Taxes is directed to adopt the twin test for determining the classification, meaning thereby the common parlance test such as the...

  15. Accrual of income - Deferred Bank Guarantee Commission - he commission income arising from the guarantee given on behalf of the customer has been recognized by the...

 

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