High Court of Bombay at Goa Allows Tax Appeals in LC Charges TDS Case — LC Charges Paid to Indian Banks Not Subject to TDS Under Section 195(1) of Income Tax Act, 1961. Payments to Indian banks for opening letters of credit for import of goods are not payments to non-residents and do not attract TDS provisions.
2 Nov 2020The case involves three tax appeals filed by India Furniture Products Limited against the Commissioner of Income Tax, Goa, concerning the assessment y...
