Payment made against redemption of preference.
Can TDS deductible for this payment, If yes , then which sec.
2 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 17 May 2024
There is no TDS implication as far as I am aware.
Rajkumar Gutti
(590 Points)
Replied 18 May 2024
In my recent reading,there is a supreme court decesion in Anarkali Sarabhai v/s CIT ( 1997) Taxman 509 ( SC) , Preference shares are movable property and goods, hence redemption of preference share is treated as sales, hence purshaser are required to deduct tds u/s 194Q , if turnover exceed 50 Lacs.
please see is it right?
please see is it right?
Recent Topics
- Loan on MF/Stocks advice
- New regime taxation
- Capital gains offset against property in parents n
- Labour Cess entry in books of accounts
- Do I need to pay GST on rent?
- Is Jal Jeevan Mission ISA Awareness Activity
- Rejections in and Debit note in tally Prime
- Regarding Rule 86B
- How to account Sale of Fixed Asset
- Gain and Loss
Related Threads
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
