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        <title>Tax Updates - Daily Update</title>
        <link>https://www.taxtmi.com</link>
        <description>One stop solution for Direct Taxes and Indirect Taxes and Corporate Laws in India</description>
        <category>Business/Tax/Law/GST/India/Taxation/Policies/Legal/Corporate Tax/Personal Tax/Vat Law/Legal Information/Tax Information/Legal Services/Tax Services</category>
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        <ttl>60</ttl>
        <item>
<title>Wholly for charitable or religious purposes</title>
<link>https://www.taxtmi.com/manuals?id=8054</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Wholly for charitable or religious purposes, for purposes of Part B relating to non-profit organisations under the Income-tax Act, 2025, includes activities undertaken wholly for charitable purposes, wholly for religious purposes, or wholly for both charitable and religious purposes. The expression encompasses each of these exclusive-purpose categories within the applicable non-profit organisation framework.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
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        </item>
        <item>
<title>Value</title>
<link>https://www.taxtmi.com/manuals?id=8053</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Value means the value of any benefit or facility granted or provided free of cost or at a concessional rate. For specified NPO-related purposes under the Income-tax Act, 2025, the recipient is a related person. Under the Income-tax Act, 1961, the term applies to persons identified under the relevant categories of section 13(3).]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specified provision</title>
<link>https://www.taxtmi.com/manuals?id=8052</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[For Part B concerning NPOs, "specified provision" encompasses section 12A, section 12AA, section 12AB, and section 10(23C) of the Income-tax Act, 1961, together with section 332. The definition establishes the statutory references included within that expression for the Part B NPO framework.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Residual Income</title>
<link>https://www.taxtmi.com/manuals?id=8051</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8051</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[For Part B applicable to NPOs, residual income is computed from total income determined without applying that Part, after deducting regular income and specified income. The resulting balance constitutes residual income for the NPO framework.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Registered Non-profit Organisation</title>
<link>https://www.taxtmi.com/manuals?id=8050</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[A registered non-profit organisation is a person with valid registration under a specified provision for the purposes of Part B. The status applies only while that registration remains uncancelled.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Registration</title>
<link>https://www.taxtmi.com/manuals?id=8049</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Registration for Part B concerning NPOs includes provisional registration, provisional approval and approval recognised under the specified income-tax registration and exemption framework, including registration under section 332. It excludes approval relating to the specified donor-deduction regime and approval under section 354.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Commercial Activity</title>
<link>https://www.taxtmi.com/manuals?id=8048</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Commercial activity for purposes of Part B concerning NPOs includes trade, commerce, business, and services connected with trade, commerce or business, where a cess, fee or other consideration is received. Its characterisation is unaffected by the use, application or retention of the resulting income.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Donation</title>
<link>https://www.taxtmi.com/manuals?id=8047</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Donation under Part B of the Income-tax Act, 2025 means any voluntary contribution received by a registered non-profit organisation from any person.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Deduction or collection at source and advance payment (General) - Section 390 (New) / Section 190 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8005</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8005</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 390 prescribes payment of income-tax through deduction or collection at source, advance tax, and direct payment where tax on a non-monetary perquisite is paid instead of deducted. These mechanisms apply independently of subsequent assessment and do not affect the underlying charge of income-tax. Tax deposited with the Central Government is treated as paid on behalf of the relevant person and is creditable against that person's tax liability. The modes are additional to other recovery mechanisms, while rules may govern entitlement to credit and the tax year of allowance.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specified Undertaking</title>
<link>https://www.taxtmi.com/manuals?id=8030</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Specified undertaking, for TDS and TCS purposes under section 402(40) of the Income-tax Act, 2025, adopts the meaning assigned in section 2(i) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002. The term is defined by statutory cross-reference only for that limited application, with no corresponding definition under the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Specified Company</title>
<link>https://www.taxtmi.com/manuals?id=8029</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA["Specified company" for the identified TDS and TCS purposes under the Income-tax framework for 2025 is confined to a company falling within section 2(h) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002. For the relevant Schedule IV entry, it covers any company except a domestic company operating cruise ships in India that elects taxation under the prescribed cruise-ship tax provisions. The 1961 framework similarly adopts the same company definition.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Charitable Purpose</title>
<link>https://www.taxtmi.com/manuals?id=8046</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Charitable purpose includes relief of the poor, education, yoga, medical relief, environmental and heritage preservation, and advancement of general public utility. Under the Income-Tax Act, 1961, general public utility ceases to be charitable if it involves trade, commerce, business, or related services for consideration, unless the activity is undertaken in actual pursuit of that object and its aggregate receipts remain within the prescribed share of total receipts.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Recovery of tax arrear in respect of non-resident from his assets- Section 422( New) / Section 173 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8045</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8045</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Tax chargeable on income covered by section 9(2), where the recipient is a non-resident, may be recovered in the name of the non-resident or an agent liable as a representative assessee. Recovery may be made by deduction under Chapter XIX-B. Tax arrears may also be recovered from assets of the non-resident situated in India or subsequently brought into India.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Recovery by suit or under other law not affected - Section 421 ( New) / Section 232 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8044</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8044</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 421 of the Income-tax Act, 2025 preserves recovery under other laws for debts due to the Government and does not limit such remedies. The Government's right to institute a civil suit for recovery of arrears due from an assessee also remains unaffected. The provision continues the position under section 232 of the Income-tax Act, 1961, allowing statutory recovery processes, other debt-recovery laws, and suit-based recovery to operate in parallel.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Tax clearance certificate- Section 420 (New) / Section 230 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8043</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8043</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 420 establishes a tax-clearance framework for departure from India. Subject to notified exceptions, non-domiciled persons entering for business, profession or employment and deriving Indian-source income require an employer or income-payer undertaking before obtaining a no-objection certificate. Domiciled persons must furnish prescribed travel and identification particulars, while tax clearance certificates may be required only with recorded reasons and prior approval. Ship or aircraft owners and charterers who permit departure without the required certificate may become personally liable, deemed assessees in default, and subject to tax recovery.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Recovery of penalties, fine, interest and other sums- Section 419 (New) / Section 229 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8042</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8042</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Recovery of interest, fines, penalties and any other sums payable under the Income-tax Act, 2025 follows the same recovery mechanism applicable to arrears of tax. Section 419 covers these non-tax liabilities within the collection and recovery framework for unpaid tax arrears. It corresponds to section 229 of the Income-tax Act, 1961 and retains the same scope, covered amounts and mode of recovery.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Recovery of tax in pursuance of agreements with foreign countries - Section 418 ( New) / Section 228A (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8041</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8041</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 418 provides reciprocal assistance for recovery of income-tax under agreements with foreign countries. Foreign tax claims concerning a resident in India or a person having property in India may be sent through the Board to the jurisdictional Tax Recovery Officer for recovery as a Section 413 certificate, with collections remitted after recovery expenses. Indian tax arrears may similarly be pursued abroad where the defaulter resides or owns property in a treaty country, subject to the relevant agreement.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Recovery through State Government - Section 417 (New) / Section 227 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8040</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8040</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Income-tax recovery may be entrusted to a State Government for an area under Article 258(1) of the Constitution. The State Government may require the tax to be collected as an addition to municipal tax or a local rate, by the same person and in the same manner used for recovering that local levy. Section 417 of the Income-tax Act, 2025 retains the framework previously contained in section 227 of the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Certificate by Tax Recovery Officer and validity thereof- Section 413 (New)/ Section 222, 224 (old)</title>
<link>https://www.taxtmi.com/manuals?id=8036</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8036</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 413 establishes recovery of tax arrears through a certificate specifying arrears due from an assessee in default. Recovery may proceed by attachment and sale of movable or immovable property, or appointment of a receiver. Proceedings may be pursued simultaneously with other recovery modes, and the assessee cannot dispute the certificate's correctness or validity during recovery proceedings. The Tax Recovery Officer may cancel the certificate or rectify clerical or arithmetical errors. Specified property transferred without adequate consideration to close family members is also available for recovery.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Stay of proceedings in pursuance of certificate and amendment or cancellation thereof - Section 415 ( New) / Section 225 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8038</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8038</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 415 governs the stay of tax recovery proceedings under a recovery certificate and the consequential amendment or cancellation of that certificate. The Tax Recovery Officer may grant additional time for payment of tax arrears, during which recovery remains stayed. If the outstanding demand is reduced through appellate or other proceedings, recovery of the reduced portion must be stayed while further proceedings remain pending. Once those proceedings become conclusive, the recovery certificate must be amended or cancelled to reflect the reduced tax liability.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Tax Recovery Officer by whom recovery is to be Effected - Section 414 (New) / section 223 (old)</title>
<link>https://www.taxtmi.com/manuals?id=8037</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8037</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Section 414 identifies the Tax Recovery Officer competent to recover tax arrears under a recovery certificate, based on the assessee's business location, residence, or location of movable or immovable property. Where property lies in more than one recovery jurisdiction, the originating officer may transfer the original certificate, or a certified copy for part of the demand, to the officer having jurisdiction over that property. Transfer may occur where full recovery is not possible locally or is needed for expeditious or effective recovery. The receiving officer recovers the amount as if the certificate had been drawn up by that officer.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Other modes of recovery Section 416( New) / Section 226 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8039</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8039</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Alternative tax recovery mechanisms allow recovery of arrears through salary deductions, directions to debtors or persons holding money for the assessee, court-held funds, and authorised distraint and sale of movable property. Third-party notices may attach money when due or held, extend to jointly held money, and bind recipients unless they validly object that no amount is due or held. Non-compliance may result in treatment as an assessee in default, while payment after notice to the assessee can create personal liability. Protected salary remains exempt from deduction.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Penalty Payable when tax in default - Section 412 (New) / Section 221 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8035</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8035</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Penalty for default in payment of tax may be imposed in addition to tax arrears and applicable interest, including further amounts for a continuing default. The aggregate penalty cannot exceed the tax arrears. Before levy, the assessee must receive a reasonable opportunity of being heard, and penalty is barred where good and sufficient reasons for the default are established. Payment of tax before levy does not remove penalty exposure. If a final order wholly reduces the underlying tax amount, the penalty must be cancelled and any amount paid refunded.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Refund under TDS / TCS</title>
<link>https://www.taxtmi.com/manuals?id=8012</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8012</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[TDS/TCS refunds differentiate between deductee or collectee claims and restricted deductor or collector claims. A deductee or collectee claims TDS/TCS credit through the return of income and receives refund where credit exceeds final tax liability. A deductor may claim refund electronically in Form No. 139 only for eligible excess deposits under Chapter XIX-B, including duplicate payments, computational errors, or incorrect challan payments. Processing verifies deposits, statements, challans, credit availability, and claim correctness.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Form for furnishing certificate of accountant- Rule 221(New) / Rule 31ACB and Rule 37J (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8011</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8011</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Accountant-certification for TDS and TCS defaults enables a person responsible for deduction or collection of tax to avoid being treated as an assessee in default under section 398(2). Form No. 149 applies to non-deduction or short deduction of tax, and Form No. 150 applies to non-collection or short collection of tax. The applicable form must be furnished to the Director General of Income-tax (Systems) or an authorised person. Rule 221 consolidates the earlier separate TDS and TCS certification framework into one provision.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Furnishing of information for payment to a non-resident, not being a company, or to a foreign company - Rule 220 (New) / Rule 37BB (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8010</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8010</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[For payments chargeable to tax, Form No. 145 must be furnished in Part A where aggregate payments during the tax year do not exceed Rs. 5 lakh; in Part B where payments exceed that threshold and an Assessing Officer's certificate or order is obtained; or in Part C where payments exceed the threshold and an accountant's certificate in Form No. 146 is obtained. Non-chargeable payments require disclosure in Part D, subject to specified exemptions. Authorised dealers and eligible IFSC Units must furnish quarterly remittance statements within 15 days after the relevant quarter.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Time and mode of payment to Government account of tax deducted or collected at source or tax paid under section 392(2)(a) - Rule 218 (New) / Rule 30 (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8009</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8009</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Rule 218 prescribes deadlines and modes for depositing TDS, TCS, and tax payable under section 392(2)(a). Government offices follow separate same-day or monthly deposit requirements, while other deductors and collectors must meet March and monthly deadlines. Specified deductions may be deposited through a challan-cum-statement within 30 days with Form No. 141. Government offices depositing without challans must furnish Form No. 137, communicate the Book Identification Number, and obtain an Account Office Identification Number. Challan and challan-cum-statement payments may be subject to electronic remittance requirements.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Conditions under section 397(2)(c) for non applicability of deduction of tax at higher rate, in case of non-residents - Rule 217 (New) / Rule 37BC (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8008</link>
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<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Higher-rate TDS for non-residents without PAN is inapplicable where prescribed information and documents are furnished to the deductor. The relaxation covers interest, royalty, fees for technical services, dividends, and payments on transfer of capital assets. Required particulars include contact and overseas address details, a Tax Residency Certificate where available under residence-jurisdiction law, and a Tax Identification Number or government-issued unique identification number. The higher-rate mechanism is also inapplicable where the non-resident is not required to obtain PAN.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Application for allotment of a tax deduction and collection account number - Rule 216 (New) / Rule 114A (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8007</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8007</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Rule 216 governs applications for allotment of a Tax Deduction and Collection Account Number (TAN). Government entities must apply in Form No. 134, while all other applicants must use Form No. 135. Applications must be made before tax is deducted or collected; where no prior application has been made, an application is required within 30 days from the end of the relevant month. Supporting documents must establish identity, address, and date of birth or incorporation, as applicable.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Tax to be deducted at source - Section 393 (New) / Section {193-197A} (Old)</title>
<link>https://www.taxtmi.com/manuals?id=8006</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8006</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Tax deduction at source under section 393 applies to specified payments based on the recipient, payment type, threshold, rate and timing prescribed in the applicable Table. Resident payments generally attract deduction on the whole amount after the threshold is crossed, while non-resident payments have no threshold unless specifically prescribed. Specified exemptions cover designated exempt persons, certain Offshore Banking Unit interest and payments connected with the New Pension System Trust. Eligible recipients may furnish a nil-tax declaration subject to stated conditions, and payers or depositories must submit it within the prescribed quarterly timeline. Suspense-account credits are treated as credits to the payee.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Administrator</title>
<link>https://www.taxtmi.com/manuals?id=8013</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8013</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Administrator denotes the Administrator identified under section 2(a) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002. Under the Income-tax Act, 2025, this meaning applies for tax deduction at source and tax collection at source purposes. Under the Income-tax Act, 1961, the same expression carries the meaning assigned by clause (a) of section 2 of that enactment.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Seller</title>
<link>https://www.taxtmi.com/manuals?id=8027</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8027</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[For TDS/TCS purposes, seller under the Income-tax Act, 2025 includes governments, local and statutory bodies, companies, firms and co-operative societies for specified goods. Individuals and Hindu undivided families qualify when their preceding-tax-year business turnover or professional receipts exceed the prescribed thresholds. A person selling an overseas tour programme package is separately treated as a seller. Earlier collection-on-sale provisions applied a higher business-turnover threshold, subject to notified exclusions, while retaining entity-based and turnover-based eligibility for specified goods collections.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>User Account</title>
<link>https://www.taxtmi.com/manuals?id=8034</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8034</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[User account means an account of a user registered with an online gaming intermediary. This definition applies for TDS/TCS purposes under the Income-tax Act, 2025, and in relation to tax deduction on online gaming winnings under the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>"User"</title>
<link>https://www.taxtmi.com/manuals?id=8033</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8033</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[User, for TDS and TCS purposes under the Income-tax Act, 2025, means any person who accesses or avails a computer resource of an online gaming intermediary. The same meaning applies under the Income-tax Act, 1961 in relation to online gaming provisions.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>University</title>
<link>https://www.taxtmi.com/manuals?id=8032</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8032</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[University means a University established or incorporated by or under a Central, State or Provincial Act, including an institution declared to be a University under section 3 of the University Grants Commission Act, 1956. Under the Income-tax Act, 2025, this meaning applies to TDS and TCS purposes in connection with section 392(4). The Income-tax Act, 1961 uses materially the same definition for relevant University-related provisions.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Time Deposit</title>
<link>https://www.taxtmi.com/manuals?id=8031</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8031</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Time deposits, for TDS/TCS purposes, mean deposits, including recurring deposits, repayable upon expiry of fixed periods. The definition is stated in the Income-tax Act, 2025 and corresponds to the definition used under the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Special Purpose Vehicle</title>
<link>https://www.taxtmi.com/manuals?id=8025</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8025</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Special purpose vehicle means an Indian company in which a business trust holds controlling interest and the specified shareholding or interest required for the trust's registration. Under the Income-tax Act, 2025, this definition applies for TDS/TCS purposes and refers to requirements prescribed by the governing law. The corresponding Income-tax Act, 1961 definition refers to requirements under applicable registration regulations.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Services</title>
<link>https://www.taxtmi.com/manuals?id=8028</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8028</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[For TDS/TCS purposes, "services" includes fees for technical services and fees for professional services. Under the Income-tax Act, 1961, professional services include services rendered in legal, medical, engineering, architectural, accountancy, technical consultancy, interior decoration and advertising professions, as well as other notified professions. Fees for technical services carry the meaning assigned for income deemed to accrue or arise in India.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>"Scrap"</title>
<link>https://www.taxtmi.com/manuals?id=8026</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8026</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Scrap for TDS/TCS purposes means waste and scrap arising from the manufacture or mechanical working of materials that is definitively unusable as such due to breakage, cutting up, wear, or similar reasons. This meaning under the Income-tax Act, 2025 corresponds to the definition in the Explanation to section 206C of the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Overseas Tour Programme Package</title>
<link>https://www.taxtmi.com/manuals?id=8024</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8024</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Overseas tour programme package covers a tour package offering a visit outside India and including travel, hotel stay, boarding, lodging, or similar or related expenditure. The definition applies for TDS/TCS purposes under the Income-tax Act, 2025, with a corresponding definition under the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Licensor or Lessor</title>
<link>https://www.taxtmi.com/manuals?id=8022</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8022</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Licensor or lessor for TDS/TCS purposes means a person transferring, by lease, licence, contract or otherwise, a whole or partial right or interest in a parking lot, toll plaza, mine or quarry to another person for business use. A public sector company is excluded. No corresponding definition exists under the Income-Tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Licensee or Lessee</title>
<link>https://www.taxtmi.com/manuals?id=8021</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8021</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Licensee or lessee for TDS and TCS purposes means a person, excluding a public sector company, who obtains a lease, licence, contract, right, or interest, wholly or partly, in a parking lot, toll plaza, mine, or quarry from a licensor or lessor for business use. No corresponding definition exists under the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Investor</title>
<link>https://www.taxtmi.com/manuals?id=8020</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8020</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Investor, for specified TDS/TCS purposes under the Income-tax Act, 2025, means a holder of securitised debt instruments, securities, or security receipts issued by a securitisation trust. Under the Income-tax Act, 1961, the same meaning applies to a person holding these instruments or receipts, including for income from securitisation trusts and related tax deduction provisions.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Designated Person</title>
<link>https://www.taxtmi.com/manuals?id=8019</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8019</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Designated person for TDS/TCS purposes includes governments, local authorities, statutory corporations, companies, co-operative societies, specified authorities, registered societies, trusts, universities, foreign entities and firms. It also covers otherwise excluded individuals, Hindu undivided families, associations of persons and bodies of individuals whose business turnover or professional receipts exceeded the prescribed threshold in the preceding tax year.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Computer Resource</title>
<link>https://www.taxtmi.com/manuals?id=8018</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8018</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Computer resource for income-tax purposes adopts the meaning assigned under section 2(1)(k) of the Information Technology Act, 2000. The Income-tax Act, 2025 applies this cross-referenced meaning to computer resources, internet and online games. The Income-tax Act, 1961 similarly applies the meaning through provisions concerning online-game taxation and assessment procedure, maintaining alignment with the Information Technology Act definition.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Buyer</title>
<link>https://www.taxtmi.com/manuals?id=8017</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8017</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Buyer for TDS/TCS purposes is defined transaction-wise. For purchase of goods, it covers a person exceeding the prescribed business turnover threshold in the preceding tax year, subject to exclusions for notified persons. For specified goods, it includes persons obtaining goods or rights to receive them, while excluding designated public-sector, governmental, foreign-state, club and personal-consumption retail purchasers. Separate definitions apply to motor-vehicle sales, Liberalised Remittance Scheme remittances and overseas tour programme packages, with specified exclusions for governmental bodies, local authorities, passenger-transport public sector companies and notified persons.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Authorised Dealer</title>
<link>https://www.taxtmi.com/manuals?id=8016</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8016</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Authorised dealer means a person authorised by the Reserve Bank of India under the Foreign Exchange Management Act, 1999 to deal in foreign exchange or foreign security. This definition applies for TDS/TCS purposes under the Income-tax Act, 2025 and correspondingly under the relevant tax-collection provision of the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Agricultural Land</title>
<link>https://www.taxtmi.com/manuals?id=8014</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8014</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Agricultural land is defined differently for income-tax withholding purposes depending on the relevant transaction. For transfer-of-property withholding, agricultural land in India excludes land in specified urban areas. For compensation on acquisition, agricultural land in India includes land situated in those areas. Under the Income-tax Act, 2025, this distinction applies to the respective TDS/TCS categories, determining the treatment of urban-area agricultural land.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>An incorrect claim apparent from any information in the statement</title>
<link>https://www.taxtmi.com/manuals?id=8015</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8015</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[An incorrect claim apparent from information in a TDS/TCS statement includes a claim based on an entry inconsistent with another entry in the same statement. It also includes a claim using a tax deduction or tax collection rate not in accordance with applicable income-tax provisions. The Income-tax Act, 2025 applies this definition jointly to TDS and TCS, whereas the Income-tax Act, 1961 contains separate equivalent definitions for TDS and TCS statements.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
        <item>
<title>Online Gaming Intermediary</title>
<link>https://www.taxtmi.com/manuals?id=8023</link>
<guid isPermaLink="true">https://www.taxtmi.com/manuals?id=8023</guid>
<pubDate>Tue, 15 Sep 2026 12:12:10 +0530</pubDate>
<description><![CDATA[Online gaming intermediary means an intermediary offering one or more online games. This definition applies for TDS/TCS purposes under the Income-tax Act, 2025 and is also used in relation to section 194BA of the Income-tax Act, 1961.]]></description>
<category>Income Tax</category>
<category>Manuals</category>
<category>TaxLaws</category>
<category>TaxTMI</category>
        </item>
<item>
<title>TMI Updates - Newsletter dated: September 15, 2026</title>
<link>https://www.taxtmi.com/newsletter?id=09/15/2026</link>
<guid isPermaLink="true">https://www.taxtmi.com/newsletter?id=09/15/2026</guid>
<description><![CDATA[Newsletter for tax updates and legal information]]></description>
<category>Daily Updates</category>
<category>Tax</category>
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