1.0Law Times Journalhttps://lawtimesjournal.inSneha Mukherjeehttps://lawtimesjournal.in/author/sneha-mukherjee/TDS Collection under section 194 has been stayed by the Calcutta HC until 30th September - Law Times Journalrich600338<blockquote class="wp-embedded-content" data-secret="Nf1RSLWyc2"><a href="https://lawtimesjournal.in/tds-collection-under-section-194-has-been-stayed-by-the-calcutta-hc-until-30th-september/">TDS Collection under section 194 has been stayed by the Calcutta HC until 30th September</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://lawtimesjournal.in/tds-collection-under-section-194-has-been-stayed-by-the-calcutta-hc-until-30th-september/embed/#?secret=Nf1RSLWyc2" width="600" height="338" title="“TDS Collection under section 194 has been stayed by the Calcutta HC until 30th September” — Law Times Journal" data-secret="Nf1RSLWyc2" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript">
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https://lawtimesjournal.in/wp-content/uploads/2021/07/CALCUTTA-HIGH-COURT-2.jpg1200675The Financial Act of 2019 had been implemented from 1st September 2019. According to one of its provisions, the Income Tax Department is empowered to collect the Tax Deducted at Source at the rate of 2% inter alia if a banking company exceeds Rs/- 1 crore in a financial year. Recently, the constitutional validity of the provision has been challenged by a petition before the Hon'ble single bench of Hon'ble Calcutta High Court under Hon'ble Justice Mohammad Nizamuddin.