TDS Under S.194-H Income Tax Act Won't Apply To Business Transactions Where Assessee Is Not Responsible For Paying Income : Supreme Court

29 Feb 2024 6:57 AM GMT

In a significant development, the Supreme Court recently held that under Section 194-H of the Income Tax Act, 1961, cellular mobile service providers are not liable to deduct tax at source on income/profit component in payments received by their franchisees/distributors from third parties/customers. “…we hold that the assessees would not be under a legal obligation to deduct tax...