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Step-son falls within the ambit of relative for Gift – Section 56(2)

February 6, 2016 9927 Views 0 comment Print

Samta Kamal Drolia Vs ITO (ITAT Ahmedabad) Assessee has received Rs. 2.20 Lakh from His Step Father and contended that he received the amounts in gift. The ld.AR has rejected the explanation of the assessee on the ground that the assessee is step-son of Donor, therefore, their relationship does not fall within the ambit of […]

Assessee cannot legally collect TCS from buyers who furnishes section 206C(1A) declaration

August 14, 2014 3030 Views 0 comment Print

Assessee cannot be treated as assessee in default for not collecting TCS from such buyers from whom the assessee received declaration as per provisions of section 206C(1A) of the Act.

Compliance of provisions of Finance Act concerning TDS and Surcharge

January 19, 2004 873 Views 0 comment Print

The Department of Post is doing an agency work on behalf of the Ministry of Finance, Department of Economic Affairs. Several queries have been received from various Circles regarding deduction of TDS and Surcharge.

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