NFT whose transfer results in a transfer of ownership of an underlying tangible asset is not VDA.
Notification No. 75, dated 30-06-2022.
CBDT notifies Form 26 QF for filing of statement of tax deposited u/s 194S by ‘Exchange’.
Notification No. 73/2022, dated 30-06-2022.
Gift vouchers, reward points, and website subscription is excluded from definition of VDA.
Notification No. 74/2022, dated 30-06-2022.
Sec. 234A – Where assessee paid interest on late payment of tax belatedly after application to waive such interest amount got rejected, assessee was liable to pay interest on such late payment of interest.
Ravikumar Dhandhania v. Income-tax Officer – [2022] 139 taxmann.com 342 (Madras).
Sec. 115JB – Notice issued in SLP filed against impugned order of HC that provisions of section 115JB do not apply to banking companies.
Commission of Income-tax v. Canara Bank -[2022] 139 taxmann.com 400 (SC).
HC grants relief to ‘Flipkart’ on reimbursement payments; Nil TDS Certificate can be issued u/s 195.
Flipkart Internet (P) Ltd. v. DCIT – [2022] 139 taxmann.com 595 (Karnataka).