Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Accrual of income - Deferred Bank Guarantee Commission - he ...

Income Tax

August 12, 2017

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 assessee over the life of the bank guarantee. - No addition.

View Source

 


 

You may also like:

  1. Nature of interest income - Appropriate taxable head of income - Because except its subsidiary, the assessee has not given Bank Guarantee to anybody else, which can...

  2. TDS u/s 194H - bank guarantee commission - whether the bank guarantee commission is not in the nature of commission paid to an agent but it is in the nature of bank...

  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...

  4. Estimation of income - “real income/commission income” - Unexplained deposits in bank account - the assessee is engaged in the business of “cheque discounting” in order...

  5. Revenue or Capital expenditure - Bank guarantee for commission paid for securing timely repayment of the deferred credit facilities for buying machinery for its running...

  6. TDS u/s 195 - TDS on the bank guarantee commission paid to a foreign bank - no income can be said to have accrued or arisen in India to the VTB bank u/s 4, 5 and 9 of...

  7. 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...

  8. Encashment of Bank Guarantees during CIRP period - scope of moratorium u/s 14 of IBC - If bank guarantee is beyond the mentioned amount in the bank guarantee, if the...

  9. 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...

  10. Refusal of the Bank to invoke the Bank Guarantee - Adjudicating Authority has taken the view that since CIRP proceedings were continuing the Bank Guarantee cannot be...

  11. Accrual of income - with the Assessee not having claimed the benefit of Section 32AB of the Act, the question of treating lease rental as income on accrual basis did...

  12. 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...

  13. Accrual of income - accrue or arise - Although, earning of income is a necessary pre-requisite for accrual of income, mere earning of income without right to receive the...

  14. IBC - Invoking Bank Guarantee - Corporate Debtor has issued bank guarantee for ensuring the price of goods. The bank guarantee is irrevocable and unconditional and...

  15. 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...

 

Quick Updates:Latest Updates