• Customer need not deduct income tax from hotel bill: HC
• CA institute wants RBI to appoint bank auditors
• Bombay High Court has ruled that a customer need not deduct income tax while paying for services provided by a hotel. The court held that Section 194 C of the Income Tax Act, which provides that any person, while making payment to a contractor for any work, must deduct the income tax, could not be extended in the case of payments for hotel services. (BS)
• According to sources, Institute of Chartered Accountants of India (ICAI) is of the view that appointment of auditors for public sector banks must be centralised with the Reserve Bank of India and the autonomy granted to public sector bank managements by the government should be withdrawn as such a system has the potential to undermine audit independence. (BL)
