Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
TDS credit on rental income from jointly owned property is ordinarily governed by section 199 and rule 37BA, which provide credit to the deductee and require prescribed declarations and reporting for transfer to another person assessable on the income. Where the entire TDS was deducted and reported against one co-owner's PAN, no transfer declaration was furnished, and the other co-owners neither claimed credit nor objected to that co-owner's claim, the entire credit should be allowed to that co-owner. Procedural requirements cannot permit the Revenue to retain TDS where no other person seeks the unclaimed credit.
TDS credit on rental income from jointly owned property is ordinarily governed by section 199 and rule 37BA, which provide credit to the deductee and require prescribed declarations and reporting for transfer to another person assessable on the income. Where the entire TDS was deducted and reported against one co-owner's PAN, no transfer declaration was furnished, and the other co-owners neither claimed credit nor objected to that co-owner's claim, the entire credit should be allowed to that co-owner. Procedural requirements cannot permit the Revenue to retain TDS where no other person seeks the unclaimed credit.
Note: It is a system-generated summary and is for quick reference only.
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