Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Payers using Form No. 121 must enable declarations in paper or electronic form, verify them electronically where applicable, and allot a 26-character Unique Identification Number to each declaration received. The UIN is composed of a running sequence number beginning with "D", the relevant tax year, and the payer's TAN; paper declarations must be digitised and placed in the same sequence, which resets for each TAN at the start of every tax year. The payer must furnish Part B of Form No. 121, with the declaration details and UIN, within the prescribed timelines on the income-tax e-filing portal, and also include the particulars in the quarterly tax deduction statement even where no tax was deducted.
Payers using Form No. 121 must enable declarations in paper or electronic form, verify them electronically where applicable, and allot a 26-character Unique Identification Number to each declaration received. The UIN is composed of a running sequence number beginning with "D", the relevant tax year, and the payer's TAN; paper declarations must be digitised and placed in the same sequence, which resets for each TAN at the start of every tax year. The payer must furnish Part B of Form No. 121, with the declaration details and UIN, within the prescribed timelines on the income-tax e-filing portal, and also include the particulars in the quarterly tax deduction statement even where no tax was deducted.
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