Brokerage commission benchmarking and investment advisory comparability depend on functional differences, economic circumstances and the services prov...
Bad-debt recoveries already included in assessed income cannot be taxed again through a separate adjustment. Reconciliation with the tax audit report, profit and loss account and subsequent scrutiny assessment is needed to establish whether duplication occurred. Foreign tax credit claimed in the return and supported by Form 67 requires verification against the scrutiny assessment and credits already granted; eligible credit may then be allowed under section 90 or 91 read with rule 128, without duplication. TDS and TCS credits require reconciliation with Form 26AS, the return and the scrutiny assessment so that any eligible balance is allowed without duplicate credit.
Bad-debt recoveries already included in assessed income cannot be taxed again through a separate adjustment. Reconciliation with the tax audit report, profit and loss account and subsequent scrutiny assessment is needed to establish whether duplication occurred. Foreign tax credit claimed in the return and supported by Form 67 requires verification against the scrutiny assessment and credits already granted; eligible credit may then be allowed under section 90 or 91 read with rule 128, without duplication. TDS and TCS credits require reconciliation with Form 26AS, the return and the scrutiny assessment so that any eligible balance is allowed without duplicate credit.
Note: It is a system-generated summary and is for quick reference only.
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