Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
Co-operative deduction eligibility excludes refund and commercial-bank interest, while qualifying co-operative investments require entity-wise verific...
Enhanced tax rate on surrendered unexplained income applies prospectively, while cash-deposit telescoping requires verification of available surrender...
The amendment streamlines voluntary liquidation procedure by replacing multiple prescribed forms with forms notified by circular, renaming the stakeholder consultation heading as assistance by stakeholders, and inserting a new claim-management rule requiring stakeholders to submit claims by the public announcement deadline and update them when satisfied. It also requires a liquidator who rejects a claim to record written reasons and communicate admission or rejection within seven days. A new termination framework is added for voluntary liquidation proceedings, requiring the resolution and liquidator's report to state the rationale, treatment of costs, and absence of prejudice or fraud, and providing that termination ends the liquidator's appointment, powers, and further action under the regulations.
The amendment streamlines voluntary liquidation procedure by replacing multiple prescribed forms with forms notified by circular, renaming the stakeholder consultation heading as assistance by stakeholders, and inserting a new claim-management rule requiring stakeholders to submit claims by the public announcement deadline and update them when satisfied. It also requires a liquidator who rejects a claim to record written reasons and communicate admission or rejection within seven days. A new termination framework is added for voluntary liquidation proceedings, requiring the resolution and liquidator's report to state the rationale, treatment of costs, and absence of prejudice or fraud, and providing that termination ends the liquidator's appointment, powers, and further action under the regulations.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
