Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
TDS credit under section 199 must follow the person who has offered the corresponding income to tax. Where a proprietorship is converted into a partnership firm but clients continue deducting tax under the former proprietor's PAN, the individual proprietor cannot claim credit if the related income was returned by the firm. The firm may seek the credit through rectification for the relevant years, subject to verification that it offered the income and that the credit is otherwise admissible. The material describes denial of credit to the individual while permitting the firm to pursue the corresponding credit.
TDS credit under section 199 must follow the person who has offered the corresponding income to tax. Where a proprietorship is converted into a partnership firm but clients continue deducting tax under the former proprietor's PAN, the individual proprietor cannot claim credit if the related income was returned by the firm. The firm may seek the credit through rectification for the relevant years, subject to verification that it offered the income and that the credit is otherwise admissible. The material describes denial of credit to the individual while permitting the firm to pursue the corresponding credit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4780
Join Channel
TaxTMI 
