Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Section 194D mandates deduction of tax at source (TDS) on insurance commission payments to residents. Currently, the TDS rate is 5% for non-corporate entities. It is proposed to reduce this TDS rate from 5% to 2% for non-corporate recipients, effective April 1, 2025. This amendment aims to rationalize and simplify taxation of capital gains.
Section 194D mandates deduction of tax at source (TDS) on insurance commission payments to residents. Currently, the TDS rate is 5% for non-corporate entities. It is proposed to reduce this TDS rate from 5% to 2% for non-corporate recipients, effective April 1, 2025. This amendment aims to rationalize and simplify taxation of capital gains.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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