Saturday, December 19, 2020

No TDS under section 194C on reimbursement of freight charges to C&F agent

INCOME TAX : Where assessee-company made payment of certain amount to its Forwarding & Clearing agent (C&F agent) towards reimbursement of freight charges paid by them to carriers, since such payment towards reimbursement had no income element embedded in it, assessee was not liable to deduct tax at source on same

from www.taxmann.com Latest Case Laws https://ift.tt/37xBBMn

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...