Tag Archives: Tax Deduction at Source

No penalty & interest for non deduction of TDS if deductee-payee having no tax liability

There cannot be any dispute that an assessee who is having losses cannot be compelled to pay the income-tax, as the Income-tax Act does not provide for such a situation,… Read more »

Banks suggest reintroduction of deduction u/s. 80CCF & increase in 194A TDS limit

Existence of Efficient Financial Markets is Paramount for Achieving Economic Growth: FM The Union Finance Minister Shri P .Chidambaram said that existence of efficient financial markets i.e. both banks and… Read more »

Grossing up in absence of PAN should be at rates in force and not at 20%

As regards the grossing up u/s 195A of the Income-tax Act is concerned, we find that the provision reads as under: [In a case other than that referred to in… Read more »

TDS not applicable on service rendered by Tenants Association to members even if the same is for remuneration

On the facts of the present case, we have noted that there is no finding by any of the authorities below that services are rendered to non-members. There is a… Read more »