Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Section 206AA read with Rule 114AAA(3) applied where the seller's PAN was inoperative on the date of property purchase because it was not linked with Aadhaar, so higher TDS was prima facie attracted. However, the Tribunal held that the buyer should not bear higher TDS if evidence shows the seller disclosed the transaction in her return and paid due taxes, following the principle underlying section 40(a)(ia) and section 201(1). The demand was therefore not finally sustained and the matter was remitted for de novo verification of the seller's tax disclosure and payment.
Section 206AA read with Rule 114AAA(3) applied where the seller's PAN was inoperative on the date of property purchase because it was not linked with Aadhaar, so higher TDS was prima facie attracted. However, the Tribunal held that the buyer should not bear higher TDS if evidence shows the seller disclosed the transaction in her return and paid due taxes, following the principle underlying section 40(a)(ia) and section 201(1). The demand was therefore not finally sustained and the matter was remitted for de novo verification of the seller's tax disclosure and payment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
