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Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

TDS u/s 194H - Commission - whether the charges deducted by the ...

Income Tax

October 24, 2016

TDS u/s 194H - Commission - whether the charges deducted by the bank for use of swiping machines for sales through credit card is commission or not - No, not TDS u/s 194H is required - AT

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  1. TDS - card swiping machine is used - HDFC Bank collects money from paying bank of the customers who use the credit card and gives credit to the Account of the assessee...

  2. 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

  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. Section 194S : TDS on payment on transfer of virtual digital asset - Deduction of Tax at Source (TDS), Collection of Tax at Source (TCS) / Withholding Tax

  5. TDS u/s 194H - commission or brokerage - amount retained by Banks/ Credit Card Agencies - assessee was not required to deduct TDS on charges retained by Bank / credit...

  6. Credit Cards Services - issuing bank receiving certain commission from the acquiring bank on swiping of credit cards - the appellant is not engaged in any activity of...

  7. 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...

  8. TDS provisions u/s 194H - credit card charges - payments to banks for utilization of credit card facilities are in the nature of bank charges and not commission and,...

  9. Non-deduction of tax u/s 194C – The expenditures were incurred towards greeting cards, stationery, visiting cards, calendars, registers, etc - being a sale and purchase...

  10. TDS u/s 194H - “payment to Gateways” - Non deduction of tds - the “sale made on the basis of a credit card” is the transaction of the merchant establishment and that the...

 

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