S. Jaykishan

Chartered Accountants

KnowledgeBase

SECTION 276B

Offences u/s 276B and Compounding

By CA Puja Borar and Vivek Sethia

Section 276B of the Income Tax Act, 1961 deals with the failure to pay tax to the credit of the government and punishment under the said provision carries a rigorous imprisonment varying from three months to seven years of jail along with fine. But if there is no reasonable cause for such failure, then the application for compounding may be made. The Article seeks to discuss all the key aspects […] Read More >>


Payments to Non Residents – Grossing Up and Section 206AA

Payments to Non Residents – Grossing Up and Section 206AA

By CA Puja Borar

The provisions of Section 195 read with Section 206AA has been surrounded with increased controversies and complexities. This Article seeks to discuss the interoperability of Section 195, 195A and Section 206AA in the light of judicial pronouncements in relation to the same. It intends to analyze the various possible ways of determining the withholding tax in respect of remittance made to a non-resident beneficiary in the absence of […] Read More >>