Tag Archives: Section 195

No TDS on Payment made by KPMG India to KPMG International – Mutuality Concept

By | May 17, 2017

IN THE ITAT MUMBAI BENCH ‘L’ Deputy Commissioner of Income-tax, 3(1), Mumbai v. KPMG* JASON P. BOAZ, ACCOUNTANT MEMBER AND PAWAN SINGH, JUDICIAL MEMBER IT APPEAL NO. 2493 (MUM.) OF 2012 CROSS OBJECTION NO. 97 (MUM.) OF 2013 [ASSESSMENT YEAR 2001-02] APRIL  7, 2017 Rajguru M.V., (CIT Sr. DR) for the Appellant. Arvind Sonde, Sr.… Read More »

Payment for purchase of software without any copyright is not royalty, No TDS u/s 195

By | October 20, 2016

Held The assessee has acquired a readymade off – the shelf computer programme to be used in their business and no right was granted to the assessee to utilize the copy right of the programme and, therefore, consideration cannot be treated as royalty. As held by the CIT(A), the payments made by the assessee company… Read More »

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

By | July 27, 2016

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

By | May 7, 2016

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

By | April 27, 2016

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

By | November 12, 2015

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 »

NO TDS liability under Section 195 if Book entry passed reversed Subsequently

By | October 13, 2015

Facts of the Case :- Assessee credited Rs.2,24,96,669/- to the account of Telefonaktiebolaget L.M. Ericsson, Sweden (hereafter ‘TLME’) in the books . The said a mount was credited on account of royalty payable ; however, the said entry was subsequently reversed, as according to the Assessee, the payment of royalty to TLME was not permissible as… Read More »

No TDS on sum paid for services rendered outside india

By | August 20, 2015

No TDS on sum paid for repairing of aircraft where the fees are payable in respect of services utilised in a business or profession carried on by such person outside India or for the purposes of making or earning any income from any source outside India Q; When Assessee  engaged in wet leasing of aircrafts to foreign… Read More »

CA Certificate not required for certain remittances: Govt

By | August 10, 2015

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 »