Articles by Sahil Dhingra
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Section 40A(2)(b) of Income Tax Act, 1961
Section 40A(2) of the Income Tax Act lays down provisions for the disallowance of certain payments to relatives. Let us discuss persons covered u/s 40A(2)(b).
Section 50B & Rule 11UAE
Slump sale means the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to the individual assets and liabilities in such sales.
Section 56(2)(X): Taxation of Gift
Gift received by any person or persons is taxed in the hands of the recipient under the head Income from other sources and at normal tax rates under Section 56(2)(x) of the Income-tax Act, 1961.
Overview of Form 35 for CIT(A) - Rule 45 of the Income Tax Rules
The Provisions relating to the form of appeal to Commissioner (Appeals) are contained under Rule 45 of the Income Tax Rules. As per the said rule 45, an appeal to the Commissioner of Income Tax (Appeals) needs to be made in Form No. 35.
Guidelines for applicability of Section 194Q
Section 194Q of the IT Act, which has been effective since 1st July 2021 has created a lot of confusion among taxpayers and professionals. Let us understand the guidelines for the applicability of the section.
Difference in Business Connection & Permanent Establishment
Section 9 of the Income Tax Act, 1961 explains the concept of Business Connection, while Article 5 of DTAA explains the concept of Permanent Establishment. Let us understand the difference between the two.
Consequences of not filing the ITR
Default in filing the Return of Income within the prescribed due date results in a fee or penalty. In this article, we discuss various fees and penalties u/s 234F, 270A, and 276CC.
A Brief On Equalisation Levy
India first introduced an equalisation levy in 2016, when it charged 6% of consideration for online advertisement services, earned by non-residents from an Indian resident carrying on a business.
Section 194-O | An analysis
According to Section 194O, an e-Commerce operator is required to deduct TDS for facilitating any sale of goods or providing services through an e-Commerce participant.
Applicability of Form 15CA & 15CB
Form 15CA is a declaration of remitter used as a tool for collecting information in respect of payments that are chargeable to tax in the hands of the recipient NRI. Form 15CB is a kind of certification regarding rates and the right kind of tax paid by you.
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