Mitesh Jain, Partner, Economic Laws Practice (ELP) has been quoted in an article titled ‘I-T, TDS to cover cash ‘benefits’ published by The Times Of India which sheds light on the amendment of certain sections under the Income Tax Act and how it will impact the businesses and the citizens.
He says, “Certain relaxations introduced in the guidelines under section 194R (the TDS provision) — such as for loan waiver by financial institutions — are not extended to 28 (iv). Thus, the proposed amendment may lead to multiple tax litigation. It will impact various sectors including FMCG, retail, and pharma.
Read the detailed article here: http://bit.ly/3l4dnm0