Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Transfer pricing benchmarking and receivables adjustments remanded: segmental financials need proper scrutiny, and foreign-currency interest must trac...
The article determines that the applicant institute qualifies as a specified person required to deduct TDS under Section 51 read with Notification No.50/2018 CT because substantial regulatory control (not day to day operational control) by the Central Government exists; Supreme Court precedent overrides administrative circulars. It clarifies that "control" denotes regulatory authority sufficient to trigger notification coverage. On contractual threshold, where supply is continuous and performed in parts, the contract as a whole-aggregating all part invoices-determines the threshold for TDS; separate contracts are assessed individually. Outcome: the institute is liable to deduct TDS.
The article determines that the applicant institute qualifies as a specified person required to deduct TDS under Section 51 read with Notification No.50/2018 CT because substantial regulatory control (not day to day operational control) by the Central Government exists; Supreme Court precedent overrides administrative circulars. It clarifies that "control" denotes regulatory authority sufficient to trigger notification coverage. On contractual threshold, where supply is continuous and performed in parts, the contract as a whole-aggregating all part invoices-determines the threshold for TDS; separate contracts are assessed individually. Outcome: the institute is liable to deduct TDS.
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