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Deduction of Tax at Source under Section 194N Restrained

India - July 20 2021 The Kolkata High Court has passed an interim order restraining the deduction of tax at source under section 194N of the Income Tax Act till 30…

Gaurav Goyal, Piyush Milani.

Tax Alert: Latest COVID-19 Related Relaxations and Exemptions Issued by the Government

India - July 13 2021 In view of the prevailing COVID-19 pandemic situation in the country, resulting in hardship and difficulty vis-à-vis complying with various due dates…

Nihar Tank, Preeti Kothari.

Tax Alert: New Rules for Determining Taxability on Reconstitution of Firms

India - July 11 2021 The Central Board of Direct Taxes (CBDT), vide notification dated 2nd July 2021, has inserted a new sub-rule 5 under Rule 8AA of the Income-tax…

Gaurav Goyal.

Tax Alert: Clarifications on Section 194Q-TDS on Purchase of Goods

India - July 6 2021 The Central Board of Direct Taxes (CBDT) introduced a new Section 194Q in Finance Act, 2021, which is effective from 01st July 2021, for withholding…

Nihar Tank, Preeti Kothari.

CBDT Prescribes Methodology for Computation of Fair Market Value in Slump Sale Transactions

India - June 3 2021 Section 50B of the Income-tax Act, 1961 (Act) deals with the provision for computation of capital gains in case of slump sale transactions…

Gaurav Goyal, Piyush Milani.