Income Tax : Learn about Section 197 of the Income Tax Act, which allows for certificates for deduction at a lower rate. Explore eligibility, a...
Corporate Law : Allahabad HC rules no prior sanction needed for FIR against a public servant. Analysis of recent judgment in Ranjeet vs State of U...
Income Tax : Explore the impact of the Finance Act, 2023 on non-resident and not ordinarily resident individuals in India. Changes in tax deduc...
Company Law : According to u/s 149(9) of companies act, an independent director shall not be entitled to any stock option and receive any remune...
Income Tax : Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, i...
Income Tax : Budget 2024 extends the scope for lower deduction/collection certificates under Sections 197 and 206C, effective from October 2024...
Income Tax : Whether or not a permanent establishment existed in a State during a given period must be determined on the basis of the circumsta...
Income Tax : Among the documents seized contained information pertaining to the Assessee and AO recorded his satisfaction that those documents ...
Income Tax : Patna High Court rules on TDS application under Section 197, stating pending tax demand does not justify summary rejection by Asse...
Income Tax : Patna High Court rules that an Assessing Officer cannot summarily reject Section 197 applications based on pending tax demands. Or...
Income Tax : Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed n...
Income Tax : Get details on new Income Tax Notification exempting specific payments to International Financial Services Centre (IFSC) Units fro...
Section: 197 of the Companies Act, 2013 Remuneration to Key Managerial Personnel 1. Maximum ceiling for payment of Managerial Remuneration Section 197 of the Companies Act, 2013 prescribed the maximum ceiling for payment of managerial remuneration by a public company to its managing director whole-time director and manager which shall not exceed 11% of the […]
TAX DEDUCTION AT SOURCE (TDS) In order to ensure better tax compliance and ensuring the timely payment of tax to the Government treasury, a mechanism has been established by making it mandatory for certain persons responsible for making payment of some expenses to deduct tax from such payment and deposit it to the Government account. […]
Actions to be taken by the deductor on receipt of the certificate: Please validate the PAN of the deductee submitting the certificate. The Certificate should be valid for the PAN, Section and Rate which has been mentioned in the statement filed. Check that the certificate is valid for the relevant Financial Year.
With the advent of time, all the processes ranging from our day to day life to corporate models (work from home as observed recently), everything is becoming digital. There were the days when the process of applying Nil/lower withholding certificate (or order) under section 197 of the Income-tax Act, 1961 (‘the Act’) was manual. The […]
