Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
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 4782
Join Channel
TaxTMI 
