Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Considering the time and resources to be taken to change those treaties, BEPS Action plan 15 implemented a radical reform in Tax treaties which would change many treaties by one stroke – i.e, a Multilateral Instrument (‘MLI’).
Dear all, In this issue, we have tried to simplify some of the FEMA provisions relation to Long term Export Advance. FEMA ke FUNDAE #FamiliarwithFEMA #rbi #export #advances
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Although a favorable judgement for assessee but not at all favorable to use as a precedent. The judgement: Rent earned from property situated outside India by assessee resident in India cannot be taxed in India if rent income offered to tax outside India. [Natasha Chopra Vs. DCIT, Circle-17(2), New Delhi ITA No. …
Dear all, This time we have come up with an interesting FEMA Provisions relating to Receipts of advance against Exports. #FEMAkeFUNDAE #FamiliarwithFEMA #export #rbi #rbicompliance
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic The withholding rate mentioned in DTAA is inclusive of cess and surcharge whereas we need to add cess and surcharge in withholding tax rate prescribed in Income Tax Act. [Deputy Commissioner of IT International Tax Circle 3(2)(1), Mumbai V. Marubeni Corporation, Japan [2022] 139 taxmann.com 458 (Mumbai – Trib.)]
Dear all, Delighted to share, FEMA provisions relating to Loans to Foreign Entity. #FEMAkeFUNDAE #FamiliarwithFEMA #rbicompliance #rbi
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Effective tax rate for foreign income needs to be calculated only on income which is doubly taxed and not on gross receipts. FTC cannot be used to pay tax on Indian Income. [Invendis Technologies India (P.) Ltd. v. ACIT Circle 3(1)(1), Bengaluru [2022] 138 taxmann.com 167 (Bangalore – Trib.)]
Dear all, With our FEMA ke FUNDAE series, we have simplified the concept of Indian company receiving foreign investments. FEMA ke FUNDAE #FamiliarwithFEMA
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Payment to non resident company for reimbursement of salary of seconded employee in India who are under control of Indian company would not be liable for TDS u/s 195. Flipkart Internet Pvt. Ltd. v. Deputy Commissioner of Income tax, Circle 1(1) WRIT PETITION NO.3619/2021 (T IT)
As per The Chartered Accountants Act, 1949, we are not permitted to solicit work or advertise for our services. The user acknowledges the following:
There has been no advertisement, personal communication, solicitation, invitation or inducement of any kind whatsoever from us or any of our members to solicit any work through this website.
The user wishes to gain more information about us for his/her own information and use.
We are not liable to any consequence of any action taken by the user relying on the material/information provided on this website.
The information provided under this website is solely available at your request for informational purposes only, should not be interpreted as soliciting or advisement nor does such information constitute legal advice.
The information about us is provided to the user only on his/her specific request. Any information obtained or material downloaded from this website is completely at the user’s volition and any transmission, receipt or use of this site would not create any form of relationship between us.
In cases where the user has any legal issues, he/she in all cases must seek independent legal advice.