TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Tax Rule Requires Contractors to Report Construction Contracts Over 50,000 with Detailed Information Within One Month</h1> The amendment introduces section 285A to the Income-tax Act, mandating contractors to provide detailed information about construction contracts exceeding fifty thousand rupees to the Income-tax Officer within one month of contract formation. Non-compliance allows the Commissioner to impose a daily fine up to fifty rupees, not exceeding twenty-five percent of the contract's total value. The Commissioner must send a copy of the fine order to the relevant Income-tax Officer.
TaxTMI 
