News

The Article discusses Proposed modifications to Rule 11 UA

CBDT to modify Income Tax Rule 11UA on Valuation of Shares

It has been decided that any payments made by an individual using their overseas debit or credit cards up to Rs 7 lakh per financial year will be exempt from TCS.

No 20% TCS on international Debit or Credit cards Transactions upto Rs 7 lakh: CBDT

TCS on Foreign Remittance: MOF releases FAQs clarifying the covered Transactions

Articles

TCS Rate of 5% is applicable upto 30th June 2023. TCS Rate of 20% is applicable w.e.f. 1st July 2023.

20% TCS on Credit Card Transactions: Understanding Key Points and Implications

The Income Tax Department has decided to discontinue their old helpline number from the helpline register w.e.f. 01/06/2023.

Income Tax Department to discontinue its Old Helpline Number: Click to Know New Numbers

Judgement

Income Tax Penalty of Rs. 3,80,900 levied on Non-Filing of SFT; ITAT affirms same

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CBDT to modify Income Tax Rule 11UA on Valuation of Shares

No 20% TCS on international Debit or Credit cards Transactions upto Rs 7 lakh: CBDT

TCS on Foreign Remittance: MOF releases FAQs clarifying the covered Transactions

20% TCS on Credit Card Transactions: Understanding Key Points and Implications

Income Tax Department to discontinue its Old Helpline Number: Click to Know New Numbers

Income Tax Penalty of Rs. 3,80,900 levied on Non-Filing of SFT: ITAT affirms same