The due date for deposit of TDS by buyers of property has been extended from 7 days to 30 days by CBDT. As per section 194IA, buyers of property have to deduct 1% TDS when paying the sale consideration to the seller, if the amount of such consideration exceeds Rs. 50 lacs. Previously, TDS… Continue reading Due Date for TDS Deposit on Sale of Property has been Extended.
For establishing unique identification of every single person, UIDAI (Unique Identification authority of India) on behalf of government of India created a centralised database for collecting the biometric and demographic data of residents, and issued a unique 12- digit number known as AADHAR Number. Aadhar is a proof of identity and address, valid for lifetime.… Continue reading AADHAR (UIDAI)
Income arising from the transfer of unlisted shares will now only be taxable under the head “Capital Gain” in order to maintain consistency and uniformity across all such transactions. Earlier, it used to be a matter of confusion for both the taxpayers and the Income Tax Department so as to whether to treat it… Continue reading CBDT Gives a Direction on Taxability of Unlisted Shares