The provision of 269SS and 269T has been enacted in order to prevent the increase in black money and to stop tax evasion. It ensures that the taxpayer does not give any false explanation for his unaccounted money.
Since the time the transfer pricing (TP) provisions were first introduced in India in 2001 and the concept of the arm’s length price introduced, taxpayers have been grappling with issues arising from the requirement to use the arithmetic mean to defend the arm’s length nature of their transactions.
Sec 194-IA deals with TDS on sale of immovable property. Under this section TDS is to be deducted @1% on sale of immovable property at the time of credit of such sum to the account of the transferor or at the time of payment of such sum whichever is earlier.
Learn how to respond to a notice u/s 139(9) for a defective income tax return. Get step-by-step guidance on filing the response and resolving the issues.
ALWPG5809L All India UNIQUE 10 Alphanumeric Number allotted by the Income Tax Department. PERMANENT ACCOUNT NUMBER which does not change with change of address or station or change of Assessing Officer, etc. How to Apply for PAN ? ♣ Apply only in “Form 49A (in the case of Indian Citizen/Indian Companies/Entities incorporated in India/Unincorporated entities […]
Once the e-Filed returns are processed and outstanding tax demand available in e-Filing portal, assessee is facilitated to submit the response against outstanding tax demand raised by CPC/AST. In this article we have discussed how a Taxpayer can submit online response against such Income Tax Demands :-
On verification of Form No. 26AS, if there is any inconsistency between the TDS details as provided by the deductor and TDS details available with the Government records (i.e. mismatch) then the deductee should intimate the same to the deductor. Mismatch in tax credit status of a deductee is because of : Non-quoting of PAN […]
SEBI, vide circular dated June 09, 2020, has eased out the conditions related to Fast Track Further Public Offer (FPO) as contained in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)
The Supreme Court on 6 th July 2020 in the case of Aruna Oswalvs Pankaj Oswal has categorically held that dispute about inheritance of shares is a civil dispute and the same cannot be decided in proceedings under Section 241/ 242 of Companies Act, 2013. The brief facts of the case are that Late Abhey […]
Fast Track Mergers The introduction of the concept of fast track mergers or FTMs has led to a significant change in the M&A landscape. Prior to the introduction of FTM vide section 233 and Rule 25 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 there was one unified merger process for all companies. This process […]
