TaxTMI 
TaxTMI 
Shares held by the partners but assigned to firm - who is eligible to avail the credit of TDS deducted on shares
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....hares held by the partners but assigned to firm - who is eligible to avail the credit of TDS deducted on shares <br>News and Press Release<br>Dated:- 27-4-2008<br><BR>Relevant Provisions: Section 199....
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.... of the Income Tax Act, 1961 - Credit for tax deducted. Facts of the Case: The assessee held several equity shares of limited companies from which dividend income was received. Officer declined to g....
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....ive credit of TDS from dividend income to the assessee on the ground that the shares belonged to the firm and accordingly held that that the firm is entitled to the credit of the TDS amount. Issue: ....
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....To whom the credit of TDS is to be given Held: Honorable HC found that despite the shares belong to the firm but dividend is taxable in the hands of assessee (partner) and therefore, the partner is ....
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....eligible to avail the credit of TDS, not the firm. (Full text of judgment - visit 2008 -TMI - 3708 - BOMBAY HIGH COURT)<BR> News - Press release - PIB....