Venture capital entities granted TDS credit entitlement, not investors, per Income Tax Commissioner ruling.

Venture capital entities granted TDS credit entitlement, not investors, per Income Tax Commissioner ruling. https://www.taxtmi.com/highlights?id=55030 Entitlement for TDS credit - venture capital undertakings - proportionate share of contributors - deduction of TDS by the deductors on behalf of the assessee or not? - CIT (A) has rightly pointed out that the deduction of TDS by the deductors was on behalf of the assessee. Since, the information furnished by the deductors to Income Tax authorities refers to the assessee only and not to the investors, the AO was required to give credit to the assessee. - AT en-us Tue, 06 Oct 2020 12:20:20 +0530 Tue, 06 Oct 2020 12:20:20 +0530 TaxTMI RSS Generator Venture capital entities granted TDS credit entitlement, not investors, per Income Tax Commissioner ruling. https://www.taxtmi.com/highlights?id=55030 Entitlement for TDS credit - venture capital undertakings - proportionate share of contributors - deduction of TDS by the deductors on behalf of the assessee or not? - CIT (A) has rightly pointed out that the deduction of TDS by the deductors was on behalf of the assessee. Since, the information furnished by the deductors to Income Tax authorities refers to the assessee only and not to the investors, the AO was required to give credit to the assessee. - AT Highlights Income Tax Tue, 06 Oct 2020 12:20:20 +0530 https://www.taxtmi.com/highlights?id=55030