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Parnika Shah

Latest Posts by Parnika Shah

No TDS liability on year end provisions if payees not identified & provision revered next year

May 23, 2023 3753 Views 0 comment Print

Karnataka HC held that no TDS liability would arise on year end provisions which were revered next year if they payees were not identified.

No Tax on Transformation to Digital Gold

May 23, 2023 1788 Views 0 comment Print

Explore the tax implications of converting physical gold to Electronic Gold Receipts (EGRs) in India, with insights on the latest Budget 2023 amendments. Discover how to invest in EGRs and the significance of the government’s move.

DTAA overrides Section 206AA TDS rate

May 22, 2023 3393 Views 0 comment Print

Section 206AA cannot be understood to override the charging Sections 4 and 5 of the Act. It has further held that the provision in Section 206-AA has to be read down to mean that where the deductee i.e., the overseas resident business concern conduct sits operation from a territory, whose Government has entered into a DTAA with India, the rate of taxation would be as dictated by the provisions of the treaty.

Section 112(1)(c)(iii) to override benefits available under section 48 to Non-Residents

May 22, 2023 3252 Views 0 comment Print

The company sold unlisted shares of an Indian private limited company and filed its return with NIL income and declared long-term capital losses after applying proviso 1 to section 48 of the Income Tax Act (Act).

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June 2024