CORPORATE AND PROFESSIONAL UPDATES 26TH MAY 2018
Direct Tax: Mumbai ITAT rules that assessee (a stock broking company) cannot be held liable to deduct TDS u/s 194A on borrowing fees paid to National Securities Clearing Corporation Ltd. [‘NSCCL’, a SEBI approved intermediary], if it is found that at the time of payment, assessee was unaware of the identity of the lenders (ultimate …