Tax on accreted income 1) Notwithstanding anything contained in this Act, where in any previous year, a specified person has— (a) converted into any form which is not eligible for grant of registration under section 12AA or section 12AB, or approval under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; (b) merged […]
Tax on income from securitisation trusts (1) Notwithstanding anything contained in this Act, any income accruing or arising to, or received by, a person, being an investor of a securitisation trust, out of investments made in the securitisation trust, shall be chargeable to income-tax in the same manner as if it were the income accruing
Securitisation trust to be assessee in default If any person responsible for making payment of the income distributed by the securitisation trust and the securitisation trust does not pay tax, as referred to in sub-section (1) of section 115TA, then, he or it shall be deemed to be an assessee in default in respect of the
Interest payable for non-payment of tax Where the person responsible for making payment of the income distributed by the securitisation trust and the securitisation trust fails to pay the whole or any part of the tax referred to in sub-section (1) of section 115TA, within the time allowed under sub-section (2) of that section, he or
F. No. CBIC- 20006/15/2023-GST Government of India Ministry of Finance Department of Revenue Central Board Indirect Taxes & Customs, GST Policy Wing New Delhi, dated 14 th June, 2023 To, All the Principal Chief Commissioners / Chief Commissioners / Principal Commissioners /Commissioners of Central Tax All the Principal Directors General/ Directors General of Central Tax
Problem: Fake registrations and bogus invoices are causing revenue loss to the government. Fraudsters obtain fake GST registrations and issue invoices without any actual supply of goods or services, passing on fake input tax credit to recipients. Modus operandi: Fraudsters misuse the identities of others to obtain GST registration. They use forged documents like electricity
Tax on distributed income to investors (1) Notwithstanding anything contained in any other provisions of the Act, any amount of income distributed by the securitisation trust to its investors shall be chargeable to tax and such securitisation trust shall be liable to pay additional income-tax on such distributed income at the rate of— (i) twenty-five
Unit Trust of India or Mutual Fund to be an assessee in default If any person responsible for making payment of the income distributed by the specified company as referred to in clause (h) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002) or a
Interest payable for non-payment of tax Where the person responsible for making payment of the income distributed by the specified company as referred to in clause (h) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002) or a Mutual Fund and the specified company or
In recent years, concerns about environmental sustainability have taken centre stage on the global platform. Innovative solutions are being explored as we grapple with the urgent need to combat climate change and reduce greenhouse gas emissions. One such solution gaining traction is the implementation of a carbon tax. In this blog, we will delve into
CA Bhuvnesh Kumar Goyal
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