Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization advances, characterized as capital receipts and not revenue, are not subject to immediate taxation. - TDS deducted on such advances should be credited in the year of deduction, not necessarily aligned with the year of income recognition. - AT
Credit for TDS - Whether the Tax Deducted at Source (TDS) on mobilization advance, which is a capital receipt, should be credited in the year of deduction - Mobilization advances, characterized as capital receipts and not revenue, are not subject to immediate taxation. - TDS deducted on such advances should be credited in the year of deduction, not necessarily aligned with the year of income recognition. - AT
Note: It is a system-generated summary and is for quick reference only.
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