AO was not justified in imposing penalty under section 271(1)(c) on assessee without specifying the grounds in the penalty notice as the same could not be construed as a mere technical error
Commission paid to non-resident agent was not liable to tax under the provisions of act when the services were rendered outside India, payments were made outside India and there was no permanent establishment or business connection in India, therefore, assessee was not required to deduct TDS u/s 195(2).
Since Department had correct address of assessee and sending notice for reassessment at incorrect address drawing a presumption of service of notice was rendered assessment proceedings as invalid.
CBDT notifies ‘Odisha Electricity Regulatory Commission’, Bhubaneswar,’ under clause (46) of section 10 of the Income-tax Act, 1961 vide Notification No. 28/2019 Dated 26th March, 2019.
GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 Tale Fax : 011-23092791 NEENA KUMAR, IRS MEMBER, CBDT & Special Secretary to the Government of India F.No. D.01380/0212018-1T(B) New Delhi, dated. 26th March. 2019 Dear Pr. Chief Commissioner of Income Tax, Subject: Achieving budget collection target for […]
When TDS returns/statements had been filed by assessee for each quarter online and orders had been served upon assessee online for payment of the late fees, assessee was not justified in contending that it had not received any communication in respect of late fee imposed under section 234E neither any such communication came to the knowledge prior to the notice of outstanding demand issued by DCIT (TDS).
1. Source- Press Release on the recommendation of the 34th Meeting of the GST Council on operational details on the earlier recommendations on real estate sector. 2. GST Rates for Real Estate Sector to be effective from 1st April, 2019 Affordable housing properties: Effective GST rate of 1% withoutITC Residential properties outside affordable segment: Effective […]
If you have been doing business internationally, whether as a small business owner with customers and suppliers overseas, or as a private investor with properties or other form of asset outside of India, then you must have fully understood by now that the cost of transferring money is nothing but marginal. Transferring money internationally through […]
Viacom 18 Media Pvt. Ltd. Vs Asst. Director of Income Tax (ITAT Mumbai) Assessee is liable to deduct TDS on the transponder fees paid to non-resident Facts – Assessee has leased transponder on satellites owned by Measat, Malaysia and rentals were paid to Measat on monthly basis. As per transponder lease agreement, taxes, if any, […]
A Roadmap for a Global Asset Registry- Measuring and tackling inequality: Curbing tax avoidance, tax evasion, corruption and illicit financial flows.
