Page 7 - Finance Act News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Education loans taken to fund overseas studies are subject to a lower TCS of 0.5 percent, and only if the amount exceeds Rs 7 lakh. However, in the case the money is sent abroad through other sources, TCS of 5 percent will be applicable if the remitted amount exceeds Rs 7 lakh. Also, if parents send money to their children studying abroad for purposes other than education, the amount will attract TCS at a higher rate.

The Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the place of provision of service for outbound shipment shall be outside India. Hence, there will be...

Supreme Court Quarterly Civil Digest 2024Abuse of Process of Law Special Leave Petitions - Several matters, wherein the special leave petitions are filed either against the order seeking adjournment...

Section 206CCA of the Income Tax Act, 1961, provides tax collection at source (TCS) on amounts received by a specified person at rates higher than specified in the act.

The Kerala High Court has held that the stipulation under Clause 16 of the Income Computation and Disclosure Standards (ICDS) for the adoption of first-in, first-out (FIFO) or weighted average cost...