Home Highlights April 2016 Year 2016 This

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1. 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

2. 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

3. Charges paid to clearing and forwarding agents disallowed u/s 40(a)(ia) – TDS not deducted u/s 194C - mere reimbursement of charges would not require deduction of taxes...

4. TDS liability on transaction charges paid to stock exchange - transaction charges are concerned, the assessee was liable to deduct TDS u/s 194J - AT

5. Assessee Society is not liable to deduct tax at source on account of payments made to the truck owners who are also members of the society - Sec. 194C

6. TDS on lease line charges - there was no requirement to deduct tax at source out of such lease line charges

7. Penalty u/s 271C – reasonable cause - The assessees are partners in a firm – Both the assessees has paid interest to firm without deducting tax at source - No penalty - AT

8. Disallowance u/s 40(a)(ia) - non-deduction of tax at source (TDS) from the payment made towards Harvesting charges - assessee is acting on behalf of the farmers for...

9. Wharfage charges paid to the KPT is not rent and no TDS is liable to be deducted under the provisions of section 194I of the Act.

10. Whether allowing discount to the dealers on SIM Cards and re-charge coupons will attract the provision for tax deducted at source under section 194H - held yes - HC