Understand taxation of immovable property sale by non-residents with insights from Income Tax Department. Explore capital gains calculation, deductions, TDS requirements, and repatriation rules for a seamless property transaction.
ITAT Delhi held that without pointing out any specific defect in the audited books of accounts, AO cannot and should not make any estimated addition. Accordingly, such estimated addition deleted.
Bombay High Court held that benefit of exemption under notification no. 12/2017- Central Tax (Rate) dated 28.06.2017 available to loading, unloading, packing, storage or warehousing of “agricultural produce” namely “tea”.
Assessee-company was engaged in the business of providing unsecured short-term loans to its customers/borrowers in India via its Digital Application based platform called the ‘CashBean‟.
Since the claim for refund could not be withheld merely because the Department, pursuant to the deposit, issued the SCN and was proposing to demand GST.
Bharatiya Sakshya Adhiniyam, 2023 received assent of President on 25th December, 2023 and It shall come into force on such date as Central Government may, by notification in Official Gazette, appoint.
Bharatiya Nagarik Suraksha Sanhita, 2023 received the assent of the President on the 25th December, 2023. It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Bharatiya Nyaya Sanhita, 2023 received the assent of the President on the 25th December, 2023. It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Sanhita.
TDS on Cash Withdrawals – Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank, or post office shall be required to deduct tax at source from any sum paid in cash from one or more accounts maintained by the recipient. The tax shall be deducted at the rate of 2% or 5% as the case may be
U.P. Tax Bar Association requests Finance Minister for extension of GST Annual Return filing deadline due to ongoing proceedings and extensive engagements. Urgent relief sought until March 31, 2024.
