WebJan 9, 2024 · So, the Rule 37BA (3) (i) makes it quite evident that the TDS benefits are to be given for the AY for which the respective income is assessable. As the income of INR 84.10 lakh, on which TDS of INR 8,41,050/- was deducted, is apparently assessable in the year under consideration, the ruling allowed the associated TDS benefits in the same year i ... WebWith effect from 1st April 2024, as per the Income Tax Act, 1961 (as amended by the Finance Act, 2024), the dividend income is taxable in the hands of shareholders. Accordingly, if any ... have to provide a declaration under Rule 37BA(2) of the Income-tax Rules, 1962. 2. Is the above rate of 10% or 20%, as the case be, increased by surcharge ...
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WebThe CIT(A) found that the provisions of Rule 37BA(2) of Income Tax Rules were not followed, and thus the assessee was not entitled to the credit for tax deduction at source. ITAT Pune bench held ... WebMar 16, 2009 · INCOME-TAX (SIXTH AMENDMENT) RULES, 2009 - INSERTION OF RULE 37BA AND 37-I. NOTIFICATION NO. 28/2009, DATED 16-3-2009. In exercise of the powers conferred by section 295 read with sub-section (3) of section 199 and sub-section (4) of section 206C of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes … the princess 2022 watch online
Desirability of standard form in Income-tax Rules for declaration …
WebApr 11, 2024 · Facts- The assessee is a senior citizen aged 70 years. For AY 2011-12 return of income was filed on 11.07.2011 declaring total income of Rs.18,55,120/- from pension, house property and interest. In the said return of income the assessee had declared interest income of his deceased wife from SBI and Canara Bank and claimed TDS credit on the … WebMay 23, 2024 · TDS credit w.r.t of spouse’s Income clubbed in the hand of assesse is not allowed. Provision :-As per provision of section 199 read with rule 37BA(2)(i) Where under any provisions of the Act, the whole or any part of the income on which tax has been deducted at source is assessable in the hands of a person other than the deductee, credit … WebFeb 11, 2024 · Hence, in accordance with Rule 37BA of the Income Tax Act, your TDS credit has been restricted to the corresponding receipts shown in the return of income. ... but tds is deducted by customer on invoice value in case of tour/package invoices as per income tax law. CA Rashmi Gandhi (Chartered Accountant) (83518 Points) Replied 11 February 2024 ... sigler programmable thermostat