Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
The ITAT held that the payments made by the assessee towards various promotional schemes like Gold Coin Scheme, Atoot Rishtey Scheme, and Foreign Scripts to dealers are not liable for tax deduction at source (TDS) u/s 194H of the Income Tax Act. The relationship between the assessee and dealers is that of seller and buyer, not principal and agent. Therefore, these payments do not constitute commission payments attracting TDS u/s 194H. However, the ITAT confirmed the disallowance of expenditure u/s 40(a)(ia) for non-deduction of TDS u/s 194C on payments made towards EPF, PF, and ESI contributions on behalf of labor suppliers or contractors.
The ITAT held that the payments made by the assessee towards various promotional schemes like Gold Coin Scheme, Atoot Rishtey Scheme, and Foreign Scripts to dealers are not liable for tax deduction at source (TDS) u/s 194H of the Income Tax Act. The relationship between the assessee and dealers is that of seller and buyer, not principal and agent. Therefore, these payments do not constitute commission payments attracting TDS u/s 194H. However, the ITAT confirmed the disallowance of expenditure u/s 40(a)(ia) for non-deduction of TDS u/s 194C on payments made towards EPF, PF, and ESI contributions on behalf of labor suppliers or contractors.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
