Just a moment...

Top
FeedbackReport
×

By creating an account you can:

Logo TaxTMI
>
Feedback/Report an Error
Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search
  1. Put words in double quotes for exact word search, eg: "income tax"
  2. Avoid noise words such as : 'and, of, the, a'
  3. Sort by Relevance to get the most relevant document.
  4. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  5. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  8. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
    ETCISO Announces the 8th Annual Conclave 2025: Redefining Cyber Leadership for the Digital Age
    Simta Astrix (Diamond Sponsor) Showcases uPVC Windows & Doors at BIG3 Exhibitions 2025
    SBI Life Insurance joins hands with AU Small Finance Bank to make comprehensive insurance solutions accessible across India
    Every patriotic Indian has sought answers on China: Cong after SC raps Rahul
    IIT-Guwahati researchers develop sensor that can help people with voice disabilities communicate
    PAN 2.0 project awarded to LTIMindtree
    Rate of stamp duty in terms of Article 19 of the Schedule I-A of Indian Stamp Act, 1899 as applicable to NCT of Delhi, on certificate or other documen...
    MoUs signed for over Rs 32,000 cr investments at TN Rising investment conclave
    Odoo Community Days 2025 Is Not Just An Event It’s A Business Experience
    Karnataka govt forms Anti-Narcotic Task Force (ANTF) to combat narcotic menace
    India's tea production dips 9 pc to 133.5 million kg in June
    Passengers spot cockroaches onboard AI's San Francisco-Mumbai flight; airline to probe incident
    SC refuses to stay Madras HC order restraining DMK from using OTP verification
    Patrician College of Arts and Science Adyar Chennai Inaugurates Its Silver Jubilee Celebrations with Grandeur
    Woxsen University Claims Its Spot Among India's Best Universities in Outlook-ICARE Rankings 2025
    1GV, Rx Propellant’s Flagship Life Sciences Campus in Genome Valley, Hyderabad, Receives IFC EDGE Advanced Certification
    Union Minister Bhupender Yadav launches Abhishek Ray's iconic novel BAAGH Tiger - The inside story on Global Tiger Day
    India's marine fish catch dips two per cent in 2024, Gujarat leads landings
    Asian markets mostly gain after Wall St tumbles following poor US jobs report
    M3M Foundation Announces Batch 2 of ‘Neev Se Shikhar Tak’: A Transformational Leadership & Mountaineering Initiative for Young Girls

Are you sure you want to delete "My most important" ?

NOTE:

News

Back

All News

Showing Results for : Category : All
Reset Filters
Showing
Records
ExpandCollapse

    News

    Back

    All News

    Showing Results for : Category : AllReset Filters
    Case ID :

    Whether a company can avoid TDS on the ground that the loan has been taken on behalf of directors?

    September 12, 2007

    📋
    Contents
    Summary
    Note

    Note

    Note

    Bookmark

    print

    Print

    In a recent case reported in (2007 -TMI - 1774 - SUPREME COURT OF INDIA  - Income Tax) the assessee has argued that since the loan were take on behalf of the directors, no TDS is required to be deducted by the assessee company.

    In the instant case honorable tribunal (ITAT) has held that,

    "there was no obligation on the part of the assessee-company to comply with the statutory requirements of Section 194A of the Income-tax Act, 1961 (for short, the Act) by deducting tax deductible at source (TDS) on interest paid by it for loans availed of by the assessee and repaid by it with interest on the ground that the loans were meant for the directors of the assessee-company and not for the assessee-company and after recording a finding that the directors had misused the name of the company to avail of the loan."

    Honorable Supreme Court has reversed the order of ITAT and allowed the appeal of the department holding that the company was required to deduct TDS from the Interest Paid u/s 194.

     

     

    Topics

    ActsIncome Tax