Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
CBDT Notification No. 36/2025 expands tax collection at source (TCS) provisions under section 206C(1F) of Income Tax Act, 1961, introducing TCS on luxury goods exceeding ten lakh rupees. The notification identifies ten categories of luxury items including wrist watches, art pieces, collectibles, watercraft, sunglasses, bags, shoes, sportswear, home theatre systems, and racing/polo horses. TCS will be levied on sale of individual items meeting the specified value threshold, effective from 22.04.2025. The amendment broadens the existing motor vehicle TCS provision to encompass a wider range of high-value luxury goods, aiming to capture additional tax revenue from premium consumer transactions.
CBDT Notification No. 36/2025 expands tax collection at source (TCS) provisions under section 206C(1F) of Income Tax Act, 1961, introducing TCS on luxury goods exceeding ten lakh rupees. The notification identifies ten categories of luxury items including wrist watches, art pieces, collectibles, watercraft, sunglasses, bags, shoes, sportswear, home theatre systems, and racing/polo horses. TCS will be levied on sale of individual items meeting the specified value threshold, effective from 22.04.2025. The amendment broadens the existing motor vehicle TCS provision to encompass a wider range of high-value luxury goods, aiming to capture additional tax revenue from premium consumer transactions.
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