Tds
This query is : Resolved
16 July 2016
can 201(1A) be levied for non deduction of tds u/s 194BB for the winnings in kind ?
16 July 2016
If any winning is in kind, TDS is applicable on its market value. As such all relevant provisions will be applicable.
16 July 2016
thank you
but why is it not specifically stated so in the question given in practice manual when other related sections like 271c and 276b are specified.
but why is it not specifically stated so in the question given in practice manual when other related sections like 271c and 276b are specified.
17 July 2016
194BB is silent on TDS from prize in kind.
But there is a passing reference in section 194B when prize is partly in cash and partly in kind.
But if paid WHOLLY IN KIND u/s. 194B, 201(1A) cannot be levied. Inference is Karantaka High court decision in Hindustan Lever Ltd which can be read in https://indiankanoon.org/doc/188191320/
But there is a passing reference in section 194B when prize is partly in cash and partly in kind.
But if paid WHOLLY IN KIND u/s. 194B, 201(1A) cannot be levied. Inference is Karantaka High court decision in Hindustan Lever Ltd which can be read in https://indiankanoon.org/doc/188191320/
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- E way bill for tractors
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
