Tag Archives: Section 195

Payment for purchase of software is not royalty/ fees for Technical Services, hence no TDS u/s 195

Held AO/DRP have erred in treating the acquisition of software under the head ‘fee for technical services/royalty’ requiring the assessee to pay the tax on the same. [para 30] IN THE ITAT DELHI BENCH ‘I-1’ SAIC India (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 7(1), New Delhi KULDIP SINGH, JUDICIAL MEMBER AND N. K.… Read More »

Apply for non deduction of TDS u/s 195 even if person was subjected to concealment penalty

A person can apply for non-deduction of TDS u/s 195 even if he has been subjected to concealment penalty [TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. SO 1655(E) [NO.31/2016 (F.NO.370142/3/2016-TPL)], DATED… Read More »

Interest on refund of excess TDS Depoisted u/s 195 can’t be denied : CBDT

SECTION 244A, READ WITH SECTION 195, OF THE INCOME-TAX ACT, 1961  PAYMENT OF INTEREST ON REFUND OF EXCESS TDS DEPOSITED UNDER SECTION 195 CIRCULAR NO.11/2016 [F.NO.279/MISC./M-140/2015-ITJ], DATED 26-4-2016 The procedure for refund of tax deducted at source under section 195 of the Income tax Act, 1961, to the person deducting the tax is delineated in… Read More »

Payment for Online access to E learning programs In india is royalty liable for TDS u/s 195

AUTHORITY FOR ADVANCE RULINGS (INCOME-TAX), NEW DELHI SkillSoft Ireland Ltd., In re JUSTICE V. S. SIRPURKAR, CHAIRMAN AND A.K. TEWARY, MEMBER A.A.R. NO. 985 OF 2010 JULY  20, 2015 Nageshwar Rao, Advocate, Pankaj Agarwal, CA and Aniket D. Agrawal, Advocate for the Applicant. K.V. Arvind, SC,Smt. Sukhvinder Khanna, CIT-DR and Sachin Dhania, DCIT-DR for the… Read More »

CA Certificate not required for certain remittances: Govt

CA Certificate not required for certain remittances: Govt Press Information Bureau Government of India Ministry of Finance 07-August-2015 17:45 IST Modifications in Foreign Exchange Regulations Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Remittance Scheme (LRS) for resident individuals for further liberalizing the existing guidelines. Accordingly, all… Read More »

Tax on Sale of Property by NRI in India

Long-term capital gain from sale of house property by NRI isn’t tax free and is liable to TDS under Sec. 195 IT/ILT : Resident-firm which buys house property from NRI cannot escape consequences of non-deduction of TDS u/s 195 from payments to NRI-vendor by claiming that long-term capital gains from sale of house property by… Read More »