Final Order Under Section 144C(3) Should Be Based On Draft Order
Any review by the AO at a later stage, at the time of the final assessment order, will be unlawful as no further hearings take place after the draft assessment order, or no directions are received by the AO regarding any variations pertaining to the subject matter.
Newly Introduced Form 10-IE
A new Form 10-IE has been introduced by inserting Rule 21AG as a part of the Income Tax (22nd Amendment) Rules, 2020.
Tax consequence on the transfer of Indian property to NRI under Will
Tax treatment in case of transfer of Indian property to an NRI under Will.
Section 194Q – TDS to be applicable from 1 July 2021 on sale of goods exceeding Rs 50 Lakhs
TDS to be applicable from 1 July 2021 on sale of goods exceeding Rs 50 Lakhs at the rate of 0.1% on a sum exceeding Rs 50 Lakhs.
