India – Taxation Snapshots.

Clarifications Regarding Applicability of Tax Withholding Provisions on Payment for Purchase of Goods

The Central Government has by a Circular dated June 30, 2021, issued guidelines on applicability of Section 194Q of the Income-tax Act, 1961 (‘ITA’), key aspects of which are set out below…
 

Valuation Rules for Slump Sale

The Finance Act, 2021 had amended the provisions for computation of capital gains in case of a slump sale. Prior to its amendment, Section 50B of the ITA, provided that capital gains in case of a slump sale will be computed by reducing…