Clarification on TDS Applicability: Section 194C for Residents, Section 172 for Non-Resident Shipping Profits. No Overlap.

Clarification on TDS Applicability: Section 194C for Residents, Section 172 for Non-Resident Shipping Profits. No Overlap. https://www.taxtmi.com/highlights?id=53885 TDS u/s 194C OR 195 - Shipping Expenses on account of non deduction of TDS u/s 40(a)(ia) - the area of operation of TDS is confined to payments made to any "resident". On the other hand, section 172 operates in the area of computation of profits from shipping business of non-residents. Thus, there is no overlapping in the areas of operation of these sections. en-us Wed, 01 Jul 2020 16:02:32 +0530 Wed, 01 Jul 2020 16:02:32 +0530 TaxTMI RSS Generator Clarification on TDS Applicability: Section 194C for Residents, Section 172 for Non-Resident Shipping Profits. No Overlap. https://www.taxtmi.com/highlights?id=53885 TDS u/s 194C OR 195 - Shipping Expenses on account of non deduction of TDS u/s 40(a)(ia) - the area of operation of TDS is confined to payments made to any "resident". On the other hand, section 172 operates in the area of computation of profits from shipping business of non-residents. Thus, there is no overlapping in the areas of operation of these sections. Highlights Income Tax Wed, 01 Jul 2020 16:02:32 +0530 https://www.taxtmi.com/highlights?id=53885