income tax date extemsion in following section

<div><b>CBDT *further extends various timelines* </b></div><div><b><br></b></div><div><b>*EXEMPTION (A welcome move)*</b></div><div><b> </b></div><div><b>_*in case of death due to COVID and money received as relief in FY 2019-20 and onwards:*_ </b></div><div><b><br></b></div><div><b>- From Employer - 100% exempt</b></div><div><b>- From other persons - exempt upto Rs. 10 Lacs</b></div><div><b><br></b></div><div><b>*EXTENSIONS*</b></div><div><b> </b></div><div><b>*1.* Application u/s 10(23C), 12AB, 35(1) & 80G in Form No. 10A / Form No.10AB - 31st August, 2021. </b></div><div><b><br></b></div><div><b> *2.* Investment, deposit, payment, acquisition, purchase, construction etc., for claiming any exemption u/ss 54 to 54GB falling between 1st April, 2021 to 29th September, 2021  - 30th September, 2021. </b></div><div><b><br></b></div><div><b>*3.* TDS Return for 4th quarter of FY 2020-21 - 15th July, 2021. </b></div><div><b><br></b></div><div><b>*4.* Certificate of TDS in Form No.16 for FY 2020-21 - 31st July, 2021. </b></div><div><b><br></b></div><div><b>*5.* Uploading Form No. 15G/15H for 1st quarter of FY 2021-22 - 31st August,2021. </b></div><div><b><br></b></div><div><b>*6.* Linkage of Aadhaar with PAN - 30th September, 2021. </b></div><div><b><br></b></div><div><b>*7.* Last date of payment of amount under VSVS (without additional amount) - 31st August, 2021. </b></div><div><b><br></b></div><div><b>*8.* Last date of payment of amount under VSVS (with additional amount) - 31st October, 2021.</b></div><div><b><br></b></div><div><b>*9.* Time Limit for passing assessment order which was earlier extended to 30th June, 2021 - 30th September, 2021.</b></div><div><b><br></b></div><div><b>*10.* Time Limit for passing penalty order which was earlier extended to 30th June - 30th September, 2021. </b></div><div><b><br></b></div><div><b>*11.* Objections to DRP & AO u/s 144C where last date of filing is 1st June, 2021 or thereafter - 31st August, 2021.</b></div><div><b><br></b></div><div><b>*12.* Statement of Income paid / credited in Form No. 64D for FY 2020-21 - 15th July, 2021. </b></div><div><b><br></b></div><div><b>*13.* Statement of Income paid or credited in Form No. 64C for FY 2020-21 - 31st July, 2021. </b></div><div><b><br></b></div><div><b>*14.* Quarterly Statement in Form No. 15CC for 1st quarter of FY 2021-22 - 31st July, 2021.</b></div><div><b> </b></div><div><b>*15.* Equalization Levy Statement in Form No. 1 for FY 2020-21 - 31st July, 2021. </b></div><div><b><br></b></div><div><b>*16.* Annual Statement u/s 9A(5) in Form No. 3CEK for FY 2020-21 - 31st July, 2021. </b></div><div><b><br></b></div><div><b>*17*. Option to withdraw pending application (before erstwhile IT Settlement Commission) in Form No. 34BB - 31st July, 2021.</b></div><div><b><br></b></div><div><b>*18*. Time Limit for processing Equalisation Levy returns - 30th September, 2021.</b></div>

income tax date extemsion in following section

CBDT *further extends various timelines*  *EXEMPTION (A welcome move)*   _*in case of death due to COVID and money received as relief in FY ...

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New Income Tax Regime Vs Old Income Tax Regime

<p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><b><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">New Income Tax Regime Vs Old Income Tax Regime</span></b><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The Finance Minister introduced several proposals in relation to the personal tax regime in the <b>Union Budget 2020</b> presented in the parliament on February 1, 2020.<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The Budget 2020 introduced a new income tax regime for individual taxpayers. Bringing a revolutionary change in direct tax rates, Finance Minister Nirmala Sitharaman has proposed a new tax regime, under which new income tax slabs are introduced. This new Income Tax regime provides lower rate that could relief to Individual taxpayer. However there are conditions that you need to be aware:-<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">1) The New Tax Regime is optional. To put it simply, the assessee can choose between the New Tax Regime and the Old Tax Regime depending on what is best suitable from a tax planning point of view.<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">2) The proposed lower tax rates will be applicable only if you are willing to give up exemptions* and deductions** available under various provisions of the Income-tax Act, 1961.<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">3) Only the deduction under Section 80CCD (2) [i.e., employer’s contribution on account of an employee in a notified pension scheme] and Section 80JJAA [i.e. for new employment] can be claimed.<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">So, There is following Income Tax Rate under the New Tax Regime and Old tax Regime<b>:-</b><o:p></o:p></span></p> <table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; border: none; mso-border-alt: solid #DDDDDD .75pt; mso-yfti-tbllook: 1184; width: 613px;"> <tbody><tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;"> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Income tax rate slabs (Rs)</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">Old Regime</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: "Times New Roman";">New Regime</span></b><span style="color: #353435; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 1;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">Up to 2.5 lakh<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">Nil<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">Nil<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 2;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">2.5-5 lakh<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">5%<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">5%<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 3;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">5-7.5 lakh<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">20%<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">10%<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 4;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">7.5-10 lakh<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">20%<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">15%<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 5;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">10-12.5 lakh<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">30%<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">20%<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 6;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">12.5-15 lakh<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">30%<o:p></o:p></span></p> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">25%<o:p></o:p></span></p> </td> </tr> <tr style="mso-yfti-irow: 7; mso-yfti-lastrow: yes;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 148.5pt;" valign="top" width="198"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">Above 15 lakh<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">30%<o:p></o:p></span></p> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 92.25pt;" valign="top" width="123"> <p class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;"><span style="color: #444444; font-family: "Arial","sans-serif"; font-size: 10.5pt; mso-fareast-font-family: "Times New Roman";">30%<o:p></o:p></span></p> </td> </tr> </tbody></table> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">(Note: The above rates are subject to surcharge and cess, as applicable)<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Since, No tax up to Rs. 500,000 taxable income, as Rebate under section 87A is available. Basic exemption income slab in case of a resident individual of the age of 60 years or more (senior citizen) and resident individual of the age of 80 years or more (very senior citizens) at any time during the previous year, continues to remain the same at Rs 3 lakh and Rs 5 lakh, respectively<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Notes:-<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">* Exemption means such as Leave Travel Allowance (LTA), House Rent Allowance (HRA), etc<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">** Deduction available under chapter VI A of the Act that under Section 80 such as 80C, 80CCC, 80CCD,80D, 80DD, 80E, 80EE, 80G, 80GG, 80GGA, 80GGC, etc Even the Standard Deduction under Section 16 [which is currently Rs 50,000] available to salaried individuals and the deduction on home loan interest, under Section 24(b) will be disallowed<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Brief description of exemption and deduction which is not in new regime<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Outs:-<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Here are some of the 70 exemptions and deductions you won’t get in new regime. Check which of these you have been claiming:-<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Standard deduction: Rs 50,000<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">House rent allowance: Depends on salary structure and rent paid<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Housing loan interest: Rs 3.5 lakh for affordable housing, Rs 2 lakh for others<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Investments under Sec 80C: Rs 1.5 lakh<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Leave travel allowance: Tax free if claimed once in block of two years<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">NPS contribution: Rs 50,000<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Medical insurance premium: Rs 25,000 (Rs 50,000 for parents and senior citizens)<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Savings bank interest: Rs 10,000 under Sec 80TTA<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Interest income (for senior citizens): Rs 50,000 under Sec 80TTB<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Education loan interest: Interest paid for eight consecutive years<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Disability of self or dependant: Rs 75,000 to Rs 1.25 lakh depending on disability<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Treatment of self or dependant for specified disease: Rs 40,000 (Rs 1 lakh for senior citizens)<o:p></o:p></span></p> <p class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"><!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 12.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Donations to specified entities: 50-100% of the amount donated.<o:p></o:p></span></p> <p class="MsoNormal"><span style="background: white; line-height: 115%; mso-bidi-font-size: 11.5pt;"><o:p> copy from another source</o:p></span></p><br />

New Income Tax Regime Vs Old Income Tax Regime

New Income Tax Regime Vs Old Income Tax Regime The Finance Minister introduced several proposals in relation to the personal tax regime in...

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रीपो रेट घटने से कैसे सस्ता होता है कर्ज?

<div>*<b>रीपो रेट घटने से कैसे सस्ता होता है कर्ज?*</b></div><div><br></div><div>*रीपो रेट में 0.40% की कटौती कर इसे 4 पर्सेंट कर दिया गया है*। </div><div><br></div><div>*यानी बैंकों को आरबीआई से अब पहले के मुकाबले सस्ता कर्ज मिलेगा, जिसका फायदा वे ग्राहकों तक सस्ते कर्ज के रूप में पहुंचा सकते हैं।* </div><div><br></div><div><br></div><div><br></div><div>जब किसी देश का केंद्रीय बैंक रीपो रेट घटाता है तो इसका सीधा मतलब है कि बैंकों को सस्ती दर पर फंड मिलेगा। </div><div><br></div><div>बैंक इसका फायदा अपने ग्राहकों को देते हैं। </div><div><br></div><div>जब बैंकों की लागत कम होती है तो वे सस्ता कर्ज देते हैं और लोन पर ब्याज घटाकर EMI घटाकर ग्राहकों को फायदा पहुंचाते हैं। </div><div><br></div><div>दूसरी तरफ FD पर वे कम ब्याज देंगे। </div><div><br></div><div>ऐसे में सीनियर सिटिजन्स को नुकसान हो सकता है जो खासतौर पर ब्याज से होने वाली आय के सहारे खर्च चलाते हैं। </div><div><br></div><div>*आइए समझने की कोशिश करते हैं कि ब्याज दर घटने से नए, मौजूदा लोनधारकों और और फिक्स्ड डिपॉजिट करने वालों पर क्या असर पड़ सकता है।*</div><div><br></div><div><br></div><div>आरबीआई ने ब्याज दरें घटा दी हैं तो ईएमआई भी घटने के चांस बनते हैं। </div><div><br></div><div>नया लोन लेना भी सस्ता होगा। </div><div><br></div><div>*रीपो रेट से जुड़े लोन की नई व्यवस्था में कैसे आपकी EMI कैसे घटेगी:*</div><div><br></div><div>-मौजूदा ग्राहक</div><div>अगर लोन एक्‍सटर्नल बेंचमार्क (रीपो रेट, ट्रेजरी बिल) से लिंक है, तो आपकी ईएमआई में अगले तीन महीनों में कमी दिख सकती है।</div><div><br></div><div>-अगर लोन MCLR से जुड़ा है तो ईएमआई का बोझ तभी कम होगा जब बैंक लोन की दरें घटाएंगे क्योंकि एमसीएलआर केवल रेट कट जैसे एक्‍सटर्नल फैक्‍टर पर निर्भर नहीं करता है। </div><div><br></div><div>-बैंक के अंदरूनी कारकों पर भी इसका असर पड़ता है। रीसेट की तारीख आती है तब बदलता है MCLR लोन।</div><div><br></div><div>-अगर लोन बेस रेट या बेंचमार्क प्राइम लेंडिंग रेट (बीपीएलआर) से जुड़े हैं, तो अपने होम लोन को नई व्यवस्था में स्विच कराने पर विचार करना चाहिए। </div><div><br></div><div>तभी पॉलिसी रेट में कटौती का असर तुरंत दिखाई देगा।</div><div><br></div><div>*नए ग्राहक*</div><div><br></div><div>नए ग्राहकों के लिए ब्‍याज दर में कटौती का तुरंत फायदा मिलेगा। </div><div><br></div><div>एक्‍सटर्नल बेंचमार्क से जुड़े लोन में यह देख लेना जरूरी है कि बैंक एक्‍सटर्नल बेंचमार्क के ऊपर कितना मार्जिन ले रहे हैं और रिस्‍क प्रीमियम कितना है।</div><div><br></div><div>*FD पर असर*</div><div><br></div><div>फिक्स्ड डिपॉजिट में निवेश करने वालों खासतौर से सीनियर सिटिजन्स की आय और घट सकती है। </div><div><br></div><div>*मार्च के महीने में RBI ने जब रेट कट किया था, उसके बाद कई बैंकों ने फिक्‍स्‍ड डिपॉजिट पर ब्‍याज दरें घटा दी थीं।*</div><div><br></div><div>*ऐसे में फिक्‍स्‍ड इनकम के लिए पीपीएफ, एनएससी, सुकन्या समृद्धि योजना, सीनियर सिटीजंस सेविंग्स स्कीम और पीएम वय वंदना योजना में पैसा लगाया जा सकता है।*</div><div><br></div><div>*सीए अनिल अग्रवाल जबलपुर 9826144965*</div>

रीपो रेट घटने से कैसे सस्ता होता है कर्ज?

* रीपो रेट घटने से कैसे सस्ता होता है कर्ज?* *रीपो रेट में 0.40% की कटौती कर इसे 4 पर्सेंट कर दिया गया है*।  *यानी बैंकों को आरबीआई से अब पह...

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Create HUF & Format of HUF Creation Deed

<div dir="ltr" style="text-align: left;" trbidi="on"> <br /> <h2 style="background: white; margin-bottom: 9.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong><span style="color: #444444; font-family: "Cambria","serif"; font-size: 13.5pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: major-latin;">Key points in creation of HUF and format of deed for creation of HUF</span></strong><span style="color: #444444; font-size: 13.5pt; line-height: 115%;"><o:p></o:p></span></h2> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">1. Under the Income Tax Act, an HUF is a separate entity for the purpose of income tax return.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">2. The same tax slabs are applicable to HUF as to individual assessee.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">3. You can not transfer your own assets/money into HUF.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">4. If you have ancestral property and earning some income from this property, then it is better to transfer this asset to HUF and save tax up to exemption limit applicable to individual.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">5. You can transfer the money received on sale of ancestral property /assets into your HUF.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">6. The income from property of HUF can be further invested in instruments such as shares, mutual funds, etc. and will be assessed under HUF.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">7. Existence of property or multiple members is not a pre-requisite to create HUF. A family which does not own any property may still have the character of Hindu joint family. This jointness is understood in terms of faith and food. This is because as a Hindu is born as a member of the joint family.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">8. Any gifts received by the members of HUF (birthday, marriage, etc.) can be treated as assets of HUF.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">9. The HUF is taxable as separate person under income tax hence one can save tax from basic exemption of Rs. 2.5 lakh. HUF will also gain from the tax slab structure of computing income tax.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">10. Apart from basic exemption of Rs. 2.50  lakh, section 80C deduction up to Rs. 1.50 lakh is also available.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="color: #475055; font-family: "Arial","sans-serif";">11. For example, if you are in 30% tax bracket, then approx tax saving by creating an HUF will be as follows:<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">Basic exemption up to Rs. 2,50,000 = nil</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">Rs. 2,50,000-5,00,000 @5% = Rs. 25,000</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">Rs. 5,00,000-10,00,000 @20% = Rs. 1,00,000</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">80C deductions Rs. 1,50,000</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">Therefore total tax payable for HUF on income of Rs. 6,50,000 is only Rs. 12,500.</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">If this income of Rs. 6,50,000 is taxed in individual hand @ 30% tax due is Rs. 1,95,000.</span><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";"><span style="box-sizing: border-box;">Hence, you can save a total of Rs. 1,82,500 by creating an HUF and transferring ancestral property income and other income under HUF.</span><o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="color: #475055; font-family: "Arial","sans-serif";">Note: An HUF is liable to pay </span><strong><span style="color: #337ab7; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">Alternate Minimum Tax</span></strong><span style="color: #475055; font-family: "Arial","sans-serif";"> if the tax payable is less than 18.5 per cent (including cess and surcharge) of “Adjusted Total Income” subject to prescribed conditions.<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">12. The following incomes are not taxed as income of HUF:-<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">If a member has converted or transferred without adequate considerationhis self-acquired property into join family property, income from such property is not taxable in hands of the family.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">Income of impartible estate (though it belongs to family) is taxable in the hands of holder of estate and not in hands of HUF.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">Personal income of the members cannot be treated as income of HUF.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">“Stridhan” is absolute property of a woman, hence income arising therefrom is not taxable as income of HUF.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">Income from individual property of daughter is not taxable in hands of HUF even if such property is vested into HUF by daughter.<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">13. An HUF is recognized as a separate assessable entity under the Act. Its income may be assessed if following two conditions are satisfied:<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">There should be a coparcenership. In this connection, it is worthwhile to mention that once a joint family income is assessed as that of HUF, it continues to be assessed as such in subsequent assessment years till partition is claimed by coparceners.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l3 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: Symbol; font-size: 10.0pt; mso-bidi-font-family: Symbol; mso-bidi-font-size: 11.0pt; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "Arial","sans-serif";">There should be a joint family property which consists of ancestral property, property acquired with the aid of ancestral property and property transferred by its members.<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">Please note that Property obtained by daughter from joint family property would be her absolute property. Any income there from is chargeable to tax in her hands in the individual status only. This will also apply to any legal heir obtaining property in the capacity of a descendent.<o:p></o:p></span></div> <h2 align="center" style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; float: none; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 9.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: center; text-decoration-color: initial; text-decoration-style: initial; widows: 2; word-spacing: 0px;"> <strong style="box-sizing: border-box;"><span style="box-sizing: border-box;"><u><span style="color: #444444; font-family: "Cambria","serif"; font-size: 13.5pt; line-height: 115%; mso-ascii-theme-font: major-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: major-bidi; mso-hansi-theme-font: major-latin;">FORMAT OF HUF CREATION DEEDS</span></u></span></strong><span style="color: #444444; font-family: "Times New Roman","serif"; font-size: 13.5pt; line-height: 115%;"><o:p></o:p></span></h2> <h3 style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><u><span style="color: #993300; font-size: 18.0pt; line-height: 115%;">FORMAT-I</span></u></span><span style="box-sizing: border-box;"><span style="color: #993300; font-size: 18.0pt; line-height: 115%;"><span style="box-sizing: border-box;"><br style="box-sizing: border-box; mso-special-character: line-break;" /> <!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" /> <!--[endif]--></span><span style="color: #444444; font-size: 18.0pt; font-weight: normal; line-height: 115%;"></span><o:p></o:p></span></span></span></h3> <div align="center" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: center;"> <u style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">DECLARATION</span></u><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">I, ____________________________ son Of ___________________________________ Residing at ____________________________________________ aged ___Adult do hereby declare-<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <ol start="1" style="box-sizing: border-box;" type="1"> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l6 level1 lfo4; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Arial","sans-serif";">That I am Karta of ____________________________________________<o:p></o:p></span></li> </ol> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <ol start="2" style="box-sizing: border-box;" type="1"> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l7 level1 lfo5; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Arial","sans-serif";">That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEAUE from my FATHER ________________________________(<em style="box-sizing: border-box;"><span style="font-family: "Arial","sans-serif";">name of relative of karta of HUF</span></em>)   on  dt. _______________ this formed the corpus of the HUF.<o:p></o:p></span></li> </ol> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <ol start="3" style="box-sizing: border-box;" type="1"> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l4 level1 lfo6; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><u style="box-sizing: border-box;"><span style="font-family: "Arial","sans-serif";">That the HUF at present is consisting of the followings members-</span></u><span style="font-family: "Arial","sans-serif";"><o:p></o:p></span></li> </ol> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">I)    Shri _____________________, Adult, Residing at _________________<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">II)  Smt. _____________________, Adult, Residing at _________________<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">III) Kumari _________________-<u style="box-sizing: border-box;">Minor, Residing at </u>___________________<o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <ol start="4" style="box-sizing: border-box;" type="1"> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l2 level1 lfo7; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><u style="box-sizing: border-box;"><span style="font-family: "Arial","sans-serif";">That the above statements are true to the best of my knowledge & belief. Declare this </span></u><span style="font-family: "Arial","sans-serif";">on  _________________<o:p></o:p></span></li> </ol> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <br /></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <u style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";">WITNESS:  </span></u><span style="color: #475055; font-family: "Arial","sans-serif";">                                                              <u style="box-sizing: border-box;">Signature</u><o:p></o:p></span></div> <ol start="1" style="box-sizing: border-box;" type="1"> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l5 level1 lfo8; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Arial","sans-serif";">—————————-   ————————————<o:p></o:p></span></li> <li class="MsoNormal" style="background: white; box-sizing: border-box; color: #444444; line-height: normal; mso-list: l5 level1 lfo8; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list 36.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Arial","sans-serif";">—————————-    ———————————–<o:p></o:p></span></li> </ol> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong style="box-sizing: border-box; text-decoration-line: underline;"><span style="color: #993300; font-family: "Arial","sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">FORMAT- II</span></strong><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><u><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">[To be executed on Rs. 200 Stamp Paper in Maharashtra]</span></u></span><u><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></u></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "Arial","sans-serif";"> </span><span style="box-sizing: border-box;"></span></strong><strong><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">DECLARATION OF GIFT MADE BY ________________________</span></strong><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><strong style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">TO THE HINDU UNDIVIDED FAMILY OF __________</span></strong><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">_________</span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">I, _____________________________, residing at _______________________ ____________________________________________________________, do hereby declare and affirm as under:</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">1.</span><span style="box-sizing: border-box;">       </span><span style="box-sizing: border-box;">That out of natural love and affection borne by me towards the Hindu Undivided Family of ______________________________,</span><span style="box-sizing: border-box;">  </span><span style="box-sizing: border-box;">I have made a gift of Rs.______ (Rupees _________________ only) as per the following details:</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">By Cheque No.________, dated __________, drawn on Bank ____________________,</span><span style="box-sizing: border-box;">  </span><span style="box-sizing: border-box;">________________ Branch, in favour of ________________________ HUF.</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">2.</span><span style="box-sizing: border-box;">       </span><span style="box-sizing: border-box;">The above Gift has been duly accepted by ________________________,</span><span style="box-sizing: border-box;">  </span><span style="box-sizing: border-box;">as Karta of his Hindu Undivided Family and has been duly acknowledged hereunder.</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">3.</span><span style="box-sizing: border-box;">       </span><span style="box-sizing: border-box;">This Declaration of Gift is made to record the fact that I have made this Gift in favour of the Donee as above, who now has the absolute right, title and interest in the gifted amount.</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";">Date: _____, 200 _____<o:p></o:p></span></div> <div align="right" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: right;"> <span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">(Signature of the Donor)</span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">                                                                       </span></span><strong style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">ACKNOWLEDGEMENT OF GIFT</span></span></strong><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "Arial","sans-serif";"> <u><span style="box-sizing: border-box;">I</span></u>, ________</span><span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">________________, hereby acknowledge having received the above gift made to my Hindu Undivided Family by _________________________.</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">                                                                       </span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: justify; text-justify: inter-ideograph;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">Date: ___________, 200__</span><span style="box-sizing: border-box;">                                                                                                             </span><span style="box-sizing: border-box;">___________________</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div align="right" class="MsoNormal" style="background: white; box-sizing: border-box; margin-bottom: 7.5pt; text-align: right;"> <span style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span lang="X-NONE" style="color: #475055; font-family: "Arial","sans-serif"; mso-ansi-language: X-NONE;">                                                                                                                                                               </span><span style="box-sizing: border-box;">(Signature of the Donee<br style="box-sizing: border-box;" /> </span><span style="box-sizing: border-box;">                                                                        </span><span style="box-sizing: border-box;">as Karta of his HUF)</span></span></span><span style="color: #475055; font-family: "Arial","sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal"> <br /></div> <br /></div>

Create HUF & Format of HUF Creation Deed

Key points in creation of HUF and format of deed for creation of HUF 1. Under the Income Tax Act, an HUF is a separate entity for the p...

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Receipts from leasing of cinema hall with furniture & fixtures, plant & machineries and other amenities, was “business income”

<div dir="ltr" style="text-align: left;" trbidi="on"> <div style="background-color: white; box-sizing: border-box; color: #475055; font-family: Arial, Helvetica, sans-serif; font-size: 16px; line-height: 1.6; margin-bottom: 10px; text-align: justify;"> During the course of hearing judgment of Hon’ble jurisdictional High Court in the case of CIT Vs. Tirupati Organizers P.Ltd.(supra) which has been relied upon by the ld.counsel of the assessee. In this case, the assessee entered into a joint business agreement with three other parties in which the assessee had to provide infrastructure, including electrical installation, lifts, plant & machinery, security system, canteen and house-keeping etc. The assessee also had undertaken responsibility for operation and maintenance of such facilities, and to provide skilled work force. In turn, the assessee would receive a guaranteed monthly amount of Rs.6,00,000/- or rupees one for inward carat of diamond. The AO treated such income of the assessee as income from house property. However, that view did not meet approval of the ld. Commissioner, who held that income of the assessee is to be assessed under the head “business income”. In that case also the AO has relied upon the judgment of Hon’ble supreme Court in the case of Shambhu Investment P.Ltd. reported in 263 ITR 143 wherein Hon’ble Supreme Court has upheld the decision of Hon’ble Kolkatta High Court. The Hon’ble Gujarat High Court has considered judgment of Hon’ble Supreme Court in the case of Shambhu Investment and held that in the present case, the income of the assessee is to be assessed under the head business income.</div> <div style="background-color: white; box-sizing: border-box; color: #475055; font-family: Arial, Helvetica, sans-serif; font-size: 16px; line-height: 1.6; margin-bottom: 10px; text-align: justify;"> On an analysis of all these facts, in the light of authoritative pronouncements of Hon’ble Gujarat High Court as well as Hon’ble Supreme Court in the case of Excel Industries (supra), I find that there is no justifiable reason for the AO to deviate from view taken in earlier years, in this year. Neither the AO nor the ld. CIT(A) has pointed out what are the changes in the facts and circumstances from the earlier years. Even otherwise, if looked from angle of Revenue sharing from operation of multiplex as well as other liabilities of the assessee, it would demonstrate that it was a business exploitation by the assessee, and it has only given a portion of the complex for a period of ten years to PVR. Therefore, its income ought to be assessed under the head business income.</div> </div>

Receipts from leasing of cinema hall with furniture & fixtures, plant & machineries and other amenities, was “business income”

During the course of hearing judgment of Hon’ble jurisdictional High Court in the case of CIT Vs. Tirupati Organizers P.Ltd.(supra) which ...

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TCS RATE CHART FOR ASSESSMENT YEAR 2020-21 AND ASSESSMENT YEAR 2021-22

<div dir="ltr" style="text-align: left;" trbidi="on"> <br /> <h2 style="background: white; margin-bottom: 9.0pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong><span style="color: #0997ba; font-family: "cambria" , "serif"; font-size: 13.5pt; line-height: 115%;">TCS Rate Chart For Assessment year 2020-21 and Assessment year 2021-22</span></strong><span style="color: #444444; font-size: 13.5pt; line-height: 115%;"><o:p></o:p></span></h2> <table border="1" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="-webkit-text-stroke-width: 0px; background: white; border-collapse: collapse; border-radius: 6px; border-spacing: 0px; border: none; box-shadow: rgb(204, 204, 204) 0px 1px 1px; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; max-width: 100%; mso-border-alt: solid #DDDDDD .75pt; mso-yfti-tbllook: 1184; orphans: 2; text-align: start; text-decoration-color: initial; text-decoration-style: initial; widows: 2; width: 613px; word-spacing: 0px;"><tbody> <tr style="box-sizing: border-box; mso-yfti-firstrow: yes; mso-yfti-irow: 0;"> <td style="background: #F9F9F9; border-image: initial; border-left: none; border: solid #DDDDDD 1.0pt; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Section</span></strong><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Particulars</span></strong><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">TCS Rates (in %) (AY 2020-21)</span></strong><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-left: none; border: solid #DDDDDD 1.0pt; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">TCS Rates (in %) (AY 2021-22)</span></strong><span style="color: #353435; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 1;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Sale of the following:</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"></td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 2;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">a) Alcoholic Liquor for Human Consumption<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 3;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">b) Tendu leaves<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">5%<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">5%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 4;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">c) Timber obtained under a forest lease<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 5;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">d) Timber obtained by any mode other than under a forest lease<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 6;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">e) Any other forest produce not being timber or tendu leaves<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2.5%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 7;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">f) Scrap<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 8;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">g) Minerals, being coal or lignite or iron ore<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 9;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1C)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Grant of lease or license of the following:</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"></td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 10;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">a) Parking lot<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 11;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">b) Toll Plaza<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 12;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"></td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">c) Mining and quarrying (Other than mining and quarrying of mineral oil, petroleum and natural gas)<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">2%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 13;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1F)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Sale of the motor vehicle of the value <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">exceeding Rs. 10 lakh</span></strong> whether payment is received by cheque or by any other mode<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">1%<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 14;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1G)(a)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">TCS on foreign remittance through </span><strong><span style="color: #337ab7; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">Liberalised Remittance Scheme (LRS)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(This Section is inserted by Finance Act, 2020 which is proposed to be applicable from 01/04/2020)</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(Please refer </span><strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">Note 1</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"> for in depth explanation of this new section)<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">NA<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">5%<o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(10% for non PAN or Aadhaar cases)<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 15;"> <td style="border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1G)(b)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">TCS on selling of overseas tour package<o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(This Section is inserted by Finance Act, 2020 which is proposed to be applicable from 01/04/2020)</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(Please refer </span><strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">Note 2</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"> for in depth explanation of this new section)<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">NA<o:p></o:p></span></div> </td> <td style="border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">5%<o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(10% for non PAN or Aadhaar cases)<o:p></o:p></span></div> </td> </tr> <tr style="box-sizing: border-box; mso-yfti-irow: 16; mso-yfti-lastrow: yes;"> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-image: initial; border-left: none; border-radius: 0px 0px 0px 6px; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-bottom-alt: solid #DDDDDD .75pt; mso-border-right-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 65.25pt;" valign="top" width="87"><div class="MsoNormal"> <strong style="box-sizing: border-box;"><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">206C(1H)</span></strong><span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;"><o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 277.5pt;" valign="top" width="370"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">TCS on sale of any goods [except goods on which TCS applicable as per Section 206C (1), 206C (1F) and 206C (1G)]<o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(This Section is inserted by Finance Act, 2020 which is proposed to be applicable from 01/04/2020)</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"><o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(Please refer </span><strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">Note 3</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;"> for in depth explanation of this new section)<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">NA<o:p></o:p></span></div> </td> <td style="background: #F9F9F9; border-bottom: solid #DDDDDD 1.0pt; border-left: none; border-radius: 0px 0px 6px; border-right: solid #DDDDDD 1.0pt; border-top: none; box-sizing: border-box; mso-border-alt: solid #DDDDDD .75pt; mso-border-left-alt: solid #DDDDDD .75pt; mso-border-top-alt: solid #DDDDDD .75pt; padding: 6.0pt 6.0pt 6.0pt 6.0pt; width: 83.25pt;" valign="top" width="111"><div class="MsoNormal"> <span style="color: #444444; font-family: "arial" , "sans-serif"; font-size: 10.5pt; line-height: 115%;">0.1%<o:p></o:p></span></div> <div style="box-sizing: border-box; margin-bottom: .0001pt; margin: 0cm; text-align: justify; text-justify: inter-ideograph;"> <span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 10.5pt;">(1% for non PAN or Aadhaar cases)<o:p></o:p></span></div> </td> </tr> </tbody></table> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <strong style="box-sizing: border-box;"><span style="color: #475055; font-family: "arial" , "sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">Notes:</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif";"><o:p></o:p></span></div> <h3 style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><strong style="box-sizing: border-box;"><span style="color: #0997ba; font-family: "cambria" , "serif"; font-size: 18.0pt; line-height: 115%;">1. Section 206C(1G)(a) – TCS on foreign remittance through Liberalised Remittance Scheme (LRS)</span></strong></span><span style="color: #444444; font-family: "times new roman" , "serif"; font-size: 18.0pt; font-weight: normal; line-height: 115%;"><o:p></o:p></span></h3> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">An authorised dealer receiving an amount or an aggregate of amounts of <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">seven lakh</span></strong> rupees or more in a financial year for remittance out of India under the LRS of RBI, shall be liable to collect TCS, if he receives sum in excess of said amount from a buyer being a person remitting such amount out of India, at the <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">rate of five per cent</span></strong>.</span><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 12.0pt;"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">In <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">non-PAN/Aadhaar cases</span></strong> the rate shall be <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">ten per cent</span></strong>.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">This section will not be applicable in following cases:<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level2 lfo1; tab-stops: list 72.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "courier new"; font-size: 10.0pt;"><span style="mso-list: Ignore;">o<span style="font: 7.0pt "Times New Roman";">    </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">If the buyer is liable to deduct TDS under any other provisions and has deducted<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level2 lfo1; tab-stops: list 72.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "courier new"; font-size: 10.0pt;"><span style="mso-list: Ignore;">o<span style="font: 7.0pt "Times New Roman";">    </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">If a buyer is CG, SG, an embassy, a high commission, a legation, a commission, a consulate, the trade representation of a foreign state, a local authority or any other person as notified by CG<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l1 level1 lfo1; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">“<strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">authorised dealer</span></strong>” is proposed to be defined to mean a person authorised by the Reserve Bank of India under sub-section (1) of section 10 of </span><strong><span style="color: #337ab7; font-family: "arial" , "sans-serif";">Foreign Exchange Management Act, 1999</span></strong><span style="color: #475055; font-family: "arial" , "sans-serif";"> to deal in foreign exchange or foreign security.<o:p></o:p></span></div> <h3 style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <strong style="box-sizing: border-box;"><span style="box-sizing: border-box;"><span style="color: #0997ba; font-family: "cambria" , "serif"; font-size: 18.0pt; line-height: 115%;">2. Section 206C(1G)(b) – TCS on selling of overseas tour package</span></span></strong><span style="color: #444444; font-family: "times new roman" , "serif"; font-size: 18.0pt; font-weight: normal; line-height: 115%;"><o:p></o:p></span></h3> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">A seller of an overseas tour program package who receives any amount from any buyer, being a person who purchases such package, shall be liable to collect TCS at the <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">rate of five per cent</span></strong>.</span><span style="color: #475055; font-family: "arial" , "sans-serif"; font-size: 12.0pt;"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">In <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">non-PAN/ Aadhaar</span></strong> cases the rate shall be <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">ten per cent</span></strong>.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">There is <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">no monetary limit</span></strong> for this transaction, irrespective of any amount TCS must be collected by seller of that package<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">This section will not be applicable in following cases:<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level2 lfo2; tab-stops: list 72.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "courier new"; font-size: 10.0pt;"><span style="mso-list: Ignore;">o<span style="font: 7.0pt "Times New Roman";">    </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">If the buyer is liable to deduct TDS under any other provisions and has deducted<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level2 lfo2; tab-stops: list 72.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "courier new"; font-size: 10.0pt;"><span style="mso-list: Ignore;">o<span style="font: 7.0pt "Times New Roman";">    </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">If a buyer is CG, SG, an embassy, a high commission, a legation, a commission, a consulate, the trade representation of a foreign state, a local authority or any other person as notified by CG<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l2 level1 lfo2; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">“<strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">Overseas tour program package</span></strong>” is proposed to be defined to mean any tour package which offers visit to a country or countries or territory or territories outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expense of similar nature or in relation thereto.<o:p></o:p></span></div> <div style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"> <span style="box-sizing: border-box;"><strong style="box-sizing: border-box;"><span style="color: #0997ba; font-family: "arial" , "sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">3. Section 206C(1H) – TCS on sale of any goods [except goods on which TCS applicable as per Section 206C</span></strong><span style="color: #0997ba; font-family: "arial" , "sans-serif";"> </span><strong style="box-sizing: border-box;"><span style="color: #0997ba; font-family: "arial" , "sans-serif"; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: major-fareast;">(1), 206C (1F) and 206C (1G)]</span></strong></span><span style="color: #475055; font-family: "arial" , "sans-serif";"><o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">A seller of goods is liable to collect TCS at the <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">rate of 0.1 per cent</span></strong> on consideration received from a buyer in a previous year <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">in excess of fifty lakh rupees</span></strong>.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">In <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">non-PAN/ Aadhaar </span></strong>cases the <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">rate</span></strong> shall be <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">one per cent</span></strong>.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">Only those <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">sellers</span></strong> whose total sales, gross receipts or turnover from the business carried on by it <strong style="box-sizing: border-box;"><span style="font-family: "arial" , "sans-serif";">exceed ten crore rupees</span></strong> during the financial year immediately preceding the financial year, shall be liable to collect such TCS.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">Central Government may notify person, subject to conditions contained in such notification, who shall not be liable to collect such TCS.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">No TCS is to be collected from the Central Government, a State Government and an embassy, a High Commission, legation, commission, consulate, the trade representation of a foreign State, a local authority as defined in Explanation to clause (20) of section 10 or any other person as the Central Government may, by notification in the Official Gazette, specify for this purpose, subject to conditions as prescribed in such notification.<o:p></o:p></span></div> <div class="MsoNormal" style="background: white; line-height: normal; margin-bottom: .0001pt; margin: 0cm; mso-list: l0 level1 lfo3; tab-stops: list 36.0pt; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"> <!--[if !supportLists]--><span style="color: #475055; font-family: "symbol"; font-size: 10.0pt;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";">         </span></span></span><!--[endif]--><span style="color: #475055; font-family: "arial" , "sans-serif";">No such TCS is to be collected, if the seller is liable to collect TCS under other provision of section 206C such as Section 206C (1), 206C (1F) and 206C (1G) or the buyer is liable to deduct TDS under any provision of the Act and has deducted such amount.<o:p></o:p></span></div> <div class="MsoNormal"> </div> </div>

TCS RATE CHART FOR ASSESSMENT YEAR 2020-21 AND ASSESSMENT YEAR 2021-22

TCS Rate Chart For Assessment year 2020-21 and Assessment year 2021-22 Section Particulars TCS Rates (in %) (AY 2020-21) ...

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