FDI in LLP
Hello all,This time we have come up with an interesting FEMA Provisions relating to ‘FDI in LLP’. FEMA ke FUNDAE #FamiliarwithFEMA #rbi #llp
Menu
August 2022
In case of foreign company, MAT is only applicable if there is a PE in India – JSCO | SITG
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic In case of foreign company, MAT will only be applicable on the income which is attributable to PE in India [Credit Suisse AG Vs. ACIT (IT)-2(1)(1), [TS-630-ITAT-2022(Mum)]]
Issue of Convertible Notes
Hello all,This time we have come up with an interesting FEMA Provisions relating to ‘Convertible Notes’. FEMA ke FUNDAE #FamiliarwithFEMA #rbi #convertiblenotes
Amendment in due date for filing Form 67 – Foreign Tax credit – JSCO | SITG
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Income Tax Department has amended rule 128 of Income Tax Rules and now assessee can file Form 67 to claim Foreign Tax credit by end of relevant assessment year.
Set-off Export Receivables against Import Payables
Dear all, Want to Set-off Export Receivables against Import Payables? Here are some simplified pointers to it. #FEMAkeFUNDAE #FamiliarwithFEMA #Export #Import #rbi #ADBank
In the absence of FTS article in DTAA, such income could be taxed as business income – JSCO | SITG
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic In case of absence of FTS clause in DTAA, income earned by providing engineering services in India would fall under business income and would be taxed in accordance with article 7 of DTAA [Deputy Director of Income Tax. Vs. Michelin ROH Co. Ltd., [2022] 138 taxmann.com 497 (Delhi – Trib.)]
Borrowings by Individual Resident from NRI
Hello all, Wanna borrow from NRI? Happy to share the simplified FEMA Provisions relating to Borrowings by an Individual Resident from NRI. #FEMAkeFUNDAE #FamiliarwithFEMA #borrowings #NRI #Resident #Rbi
Online Filing of Form 10F enabled on E-filing portal – JSCO | SITG
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Now all non-residents have to file Form 10F mandatorily online on e-filing portal and Form 10F needs to be accompanied by TRC (Tax residency certificate).
Residential Status under FEMA
Hello all Are you curious to know your Residential status under FEMA? So, let’s understand more about it. #FEMAkeFUNDAE #FamiliarwithFEMA #residentialstatus #fema #rbi