Govt. notifies provisions of FATCA entered with USA
Govt. notifies provisions of FATCA entered with USA; effective from August 31, 2015
Daily Archives: October 3, 2015
FAQs on Charitable Institutions and Income Tax
Charitable Institutions and Income Tax act 1961 Q.1 Are NGOs and other charitable and non-profit organizations entitled to claim tax exemption under income tax law in India? Are donors who contribute to such organizations also entitled to any tax deduction? Ans. Yes, such exemption is available to, (i) public charitable trusts or other legal obligations, [Section 11/ 12A]… Read More »
No TDS on purchase of negative rights of films
Whether Payment made to purchase negative rights of films on perpetual basis attract TDS under section 194J ? Summary of the Case on TDS on purchase of negative rights of films: Section :194J, read with section 40(a)(ia), of the Income-tax Act, 1961 Subject :Deduction of tax at source on Fees for professional or technical services (Film… Read More »
Form No 15G and Form No 15H can be E filed
Form No 15G and Form No 15H KEY CHANGES: -Form No 15G and Form No 15H can be e filed -Payee to Specify no of Form No 15G and Form No 15H filed during the year – Payer/Deductor will allot unique identification number to each declaration received by him in Form No 15G and Form No 15H… Read More »