The Corona Virus (Covid-19) outbreak has impacted lives of citizens, severely impacted the trade, commerce, industry and the entire business community. The Hon Prime Minister took bold initiative and declared health emergency.
In this Article, the Authors briefly deliberated on the issues arising out of FAQs answered by the Board and also fresh questions that need to be answered soon for the tax payers and the administrators to be clear in their approach. The Act is referred to as VsV Act or the Act and the Designated […]
It is proposed to provide for tax collection at source (TCS) on remittance under Liberalised Remittance Scheme of Reserve Bank of India exceeding seven lakh rupees.
WIDENING AND DEEPENING OF TAX BASE BY In order to widen the TCS, the Finance Minister in Para 3.3 made the following in her speech. 3.3 Widening the scope of TCS: It is proposed to provide for tax collection at source (TCS) on remittance under Liberalised Remittance Scheme of Reserve Bank of India exceeding seven […]
The Finance Bill 2019 has finally been passed with the insertion of section 194N – TDS on cash withdrawals. A finer reading of the provisions emerge the following:
The Finance Minister with the view of widening and deepening of tax base proposed to bring in new provision for deduction of tax at source by Individuals and HUFs. Extract of the Memorandum of objects and reasoning reads as follows: B. WIDENING AND DEEPENDING OF TAX BASE Tax Deduction at Source (TDS) on payment by […]
