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...
The Central Government issued Notification No. 67/2025 under sections 197A and 80LA of the Income Tax Act 1961, exempting specified IFSC units from tax deduction at source on various payments. The exemption applies to seven categories of IFSC entities including BATF service providers, broker-dealers, finance companies, fund management entities, recognised clearing corporations, depositories, and stock exchanges for specific payment types under sections 194A, 194C, 194H, 194I, and 194J. Payees must furnish Form No. 1 declaration for ten consecutive assessment years claiming section 80LA deduction. The notification becomes effective July 1, 2025, promoting IFSC operations through TDS relief.
The Central Government issued Notification No. 67/2025 under sections 197A and 80LA of the Income Tax Act 1961, exempting specified IFSC units from tax deduction at source on various payments. The exemption applies to seven categories of IFSC entities including BATF service providers, broker-dealers, finance companies, fund management entities, recognised clearing corporations, depositories, and stock exchanges for specific payment types under sections 194A, 194C, 194H, 194I, and 194J. Payees must furnish Form No. 1 declaration for ten consecutive assessment years claiming section 80LA deduction. The notification becomes effective July 1, 2025, promoting IFSC operations through TDS relief.
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