Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Income Tax | S.194C & S.194LA Would Not Apply When TDR Certificates Are Issued In Lieu Of Compensation: Bombay High Court
Income TaxRERA & Property Act
The Bombay High Court has ruled that Sections 194C and 194LA of the Income Tax Act would not apply when "TDR certificates are issued in lieu of compensation." The court's decision provides a significant relief to landowners and developers. The ruling clarifies that the issuance of TDR certificates is not a payment for a contract or land, and therefore, no tax is to be deducted at source. This judgment is a crucial precedent for the real estate sector.
