Friday, April 1, 2022

CBDT exempts non-resident individuals visiting India from tax collection on LRS remittance and overseas tour program package

 This Tax Alert explains Notification dated 30 March 2022  issued by the CBDT which exempts individuals, not resident in India (NR) as per the provisions of Income Tax Laws and visiting India, from tax collection at source (TCS) on foreign remittances made under Liberalized Remittance Scheme (LRS) and for purchase of overseas tour program package (OTPP).

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Delhi HC holds 10% pre-deposit requirement for penalty-only appeals inapplicable where SCN was issued before amendment

  This Tax Alert summarizes a recent ruling of the Delhi High Court (HC) [1] on whether the newly introduced pre-deposit requirement for fi...