Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
This notification amends the Income-tax Rules, 1962, introducing changes related to tax collection at source u/s 206C of the Income-tax Act, 1961. The key amendments are: (1) Requiring furnishing of particulars regarding amounts received or debited where tax was not collected or collected at a lower rate due to notifications u/s 206C(12). (2) Allowing credit for tax collected at source to be given to the person in whose hands the collectee's income is assessable, subject to the collectee filing a declaration. (3) Mandating the collector to issue TCS certificate in the name of the person to whom credit is given. (4) Introducing a new code in Form 27EQ for reporting cases of non-collection or lower collection due to notifications u/s 206C(12).
This notification amends the Income-tax Rules, 1962, introducing changes related to tax collection at source u/s 206C of the Income-tax Act, 1961. The key amendments are: (1) Requiring furnishing of particulars regarding amounts received or debited where tax was not collected or collected at a lower rate due to notifications u/s 206C(12). (2) Allowing credit for tax collected at source to be given to the person in whose hands the collectee's income is assessable, subject to the collectee filing a declaration. (3) Mandating the collector to issue TCS certificate in the name of the person to whom credit is given. (4) Introducing a new code in Form 27EQ for reporting cases of non-collection or lower collection due to notifications u/s 206C(12).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4784
Join Channel
TaxTMI 
