Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government account u/s 206C(7) of Income Tax Act. This aligns interest rate with provisions for late deposit of tax deducted at source (TDS) u/s 201(1A). Amendment effective from April 1, 2025 to address difficulty faced by collectee due to late payment of TCS to government.
Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government account u/s 206C(7) of Income Tax Act. This aligns interest rate with provisions for late deposit of tax deducted at source (TDS) u/s 201(1A). Amendment effective from April 1, 2025 to address difficulty faced by collectee due to late payment of TCS to government.
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