Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
Effective 1 October 2026, the TDS compliance framework extends to consideration for transfer of immovable property where a resident individual or HUF must deduct tax under section 393(2). Rules 215, 218 and 219 now require the relevant TDS certificate, deposit and statement reporting for such transactions. Form 132 and Form 141 are amended to cover property transfers involving non-resident sellers and resident individual or HUF buyers. New Schedule E in Form 141 requires property, buyer, seller, consideration, instalment and tax-deduction details. Non-resident seller reporting requires contact details, overseas address, tax residency certificate and tax identification information, including where PAN is unavailable.
Effective 1 October 2026, the TDS compliance framework extends to consideration for transfer of immovable property where a resident individual or HUF must deduct tax under section 393(2). Rules 215, 218 and 219 now require the relevant TDS certificate, deposit and statement reporting for such transactions. Form 132 and Form 141 are amended to cover property transfers involving non-resident sellers and resident individual or HUF buyers. New Schedule E in Form 141 requires property, buyer, seller, consideration, instalment and tax-deduction details. Non-resident seller reporting requires contact details, overseas address, tax residency certificate and tax identification information, including where PAN is unavailable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
