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Pani

Latest Posts by Pani

FAQs on Vivad Se Vishwas – Questions Unanswered- Part II

May 6, 2020 10950 Views 0 comment Print

PREAMBLE The Direct Tax Vivad se Vishwas Act, 2020 (DTVSV) received the assent of the Hon President of India on 17-3-2020. The CBDT had in Circular No 7/2020 dated 4-3-2020 clarified on 55 questions. The DTVSV Rules were announced on 18-3-2020 prescribing the forms and procedures and the website was developed and the portal was […]

TDS on Cash Withdrawals 194N–Clarifications Required On Crucial Issues

April 6, 2020 10965 Views 6 comments Print

THE FINANCE ACT, 2020, received the assent of the President on the 27th March, 2020 substituted the following in place of the existing provisions of section 194N, which was introduced as a deterrent for cash transactions. 1.0 STATUTORY PROVISION For section 194N of the Income-tax Act, the following section shall be substituted with effect from […]

TCS on Sale Of Goods Section 206C(1H) – Judicial Review

April 2, 2020 13188 Views 2 comments Print

The provisions of TCS u/s 206(1H) were to take effect from 1-4-2020 vide the The Finance Bill as introduced, but as it became law, it is effective from 1st Oct 2020.

Judicial Review of Direct Tax Vivad se Vishwas Bill, 2020

February 11, 2020 2574 Views 1 comment Print

In the statement of objects and reasons in introducing the Direct Tax Vivad se Vishwas Act, 2020, the FM said that over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the number of appeals that are filed is much higher than the number of appeals that are disposed.

Section 194N: TDS on cash withdrawals

July 9, 2019 73044 Views 38 comments Print

Relevant Part of Union Budget 2019 Speech on Levy TDS of 2% on cash withdrawal under Section 194N The Finance Minister made a statement in the House of Parliament that to continue to provide momentum to the buoyancy in direct taxes through deepening and widening of the tax base, promoting less cash economy, proposed. 126. […]

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