Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Income Tax: Section 194M mandates individuals or Hindu undivided families to deduct 5% TDS on payments made to residents for contract work, commissions, brokerage, or professional fees. The proposed amendment reduces this TDS rate from 5% to 2%, effective October 1, 2024.
Income Tax: Section 194M mandates individuals or Hindu undivided families to deduct 5% TDS on payments made to residents for contract work, commissions, brokerage, or professional fees. The proposed amendment reduces this TDS rate from 5% to 2%, effective October 1, 2024.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
