Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
CBDT has issued an order under section 119 of the Income-tax Act, 1961, authorizing CCIT, DGIT, or PrCCIT to waive interest charged under section 201(1A)(ii)/206C(7) in cases where taxpayers initiated TDS/TCS payments and amounts were debited from their accounts before the due date, but credited to the government after the due date due to technical glitches beyond taxpayer control. Applications for waiver must be submitted within one year from the end of the financial year for which interest is charged and will be decided within six months. The order is final with no further appeals permitted to the Board. The directive is effective March 28, 2025.
CBDT has issued an order under section 119 of the Income-tax Act, 1961, authorizing CCIT, DGIT, or PrCCIT to waive interest charged under section 201(1A)(ii)/206C(7) in cases where taxpayers initiated TDS/TCS payments and amounts were debited from their accounts before the due date, but credited to the government after the due date due to technical glitches beyond taxpayer control. Applications for waiver must be submitted within one year from the end of the financial year for which interest is charged and will be decided within six months. The order is final with no further appeals permitted to the Board. The directive is effective March 28, 2025.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
