The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the one-time non-refundable upfront charges paid for the acquisition of the leasehold rights are not ‘rent’ for the purpose of TDS under Section 194I of the Income Tax Act, 1961. The assessee had purchased land from UPSIDC which was a lease hold […]
The post One-Time Non-Refundable Upfront Charges paid for Acquisition of Leasehold Right not subject to TDS: ITAT follows CBDT Circular [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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