M/s Durga Associates, a partnership firm, obtained declaration in Form No. 15G/15H from its lenders/depositors (wherever applicable) and submitted…
CA Final · Direct Tax Laws and International Taxation · PYQS · September 2025
M/s Durga Associates, a partnership firm, obtained declaration in Form No. 15G/15H from its lenders/depositors (wherever applicable) and submitted the same to prescribed income-tax authorities.
Suggested Answer and Working Notes:
Tax Compliance: Obtaining declaration from lenders/depositors in Form No. 15G/15H by M/s Durga Associates, a partnership firm and forwarding the same to Income-tax authorities is in the nature of compliance with statutory obligation under the Income-tax Act, 1961.
Topics: Tax Planning, Tax Avoidance & Tax Evasion
Related Questions in this Topic
- Mrs. Varsha is engaged in business and her turnover for the PY 25-26 amounts to 18 crore. She has duly complied with the...
- State with reasons whether the following Act can be considered as Tax Planning or Tax Management or Tax Evasion: (i) On ...
- Rahul, an Indian citizen, left India and settled in United Kingdom from 10.4.2016. He had never left India previously si...
- (ii) Yellow Ltd. (an Indian company) is a wholly owned subsidiary of Pink Ltd., a company incorporated in Country H. Pin...
- Discuss whether the provisions of General Anti-Avoidance Rules can be invoked in the following scenarios: (i) Red Ltd.,...