When a transporter having more than 100 Cr of Turnover purchases Diesel from Indian Oil Corporation Ltd and receives Petro Cards of the same amount is he liable to deduct tax at source u/s 194Q of the Act ?

A transporter having more than 100 Cr of Turnover purchases  Diesel from Indian Oil Corporation Ltd.It makes advance payments to the Co and in return receives Petro Cards of the same amount.The no. of Petro Cards and value charged to each card is as per the requirement of the transporter. The driver of the individual truck is buying diesel from any  dealer of the IOC  located on his allotted route by swiping the Petro  Card on the POS machine kept at the pump.The pump owner hands over a machine generated slip of the quantity of diesel filled and amount thereof.…

► Read Answer

  Whether the assessee is liable to deduct tax at source on reimbursement of expenses ?

An Indian company has engaged a foreign company to keep some employees selected by Indian Company to keep on its ( foreign company ) pay rolls . The foreign company shall take payment from Indian company towards salary and other out of pocket expenses of employee and pay to employees, it shall also take care of local labour laws compliances and shall get % of the the total payments as its fees. What shall be treatment of this payment in hands of Indian Company - whether it shall FTS or payment of business profits for determining if withholding tax to…

► Read Answer

  What is the situation of TDS deducted by the income tax department on section 28 of land acquisition act 1894 ?

sir after mahenderpal's narang case what is the situation of TDS deducted by the income tax department on section 28 of land acquisition act 1894

► Read Answer