Basics of USA taxation for Indian residents
Saturday International Tax Gyan!! (SITG-199) #taxmadeeasy #taxinpic Basics of USA taxation for Indian resident having companies in USA
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March 2024
Indian Depository Receipt (IDR)
Dear all, This time we have come up with an interesting FEMA Provisions relating to “Indian Depository Receipt (IDR)” #FEMAkeFUNDAE #FamiliarwithFEMA #rbi
Notification for incorporating MFN clause in India-Spain Treaty
Saturday International Tax Gyan!! (SITG-198) #taxmadeeasy #taxinpic CBDT issues notification for allowing MFN clause benefit to Spain from AY 2024-25
Housing Loan for NRI/OCI for Acquiring Immovable property in India
Dear all, This time we have come up with an interesting FEMA Provisions relating to “Housing Loan for NRI/OCI for Acquiring Immovable property in India” #FEMAkeFUNDAE #FamiliarwithFEMA #rbi
DRP cannot pass directions if Ld. AO has passed final order
Saturday International Tax Gyan!! (SITG-197) #taxmadeeasy #taxinpic Ld. DRP cannot pass directions if Ld. AO has already passed final assessment order without waiting for directions and assessee had not informed AO regarding the objections filed before DRP. Cadmatic OY v. ACIT (Int Tax) – Circle-2(1)(1) ITA no.540/Mum./2023
Acquisition of Immovable Property in India by Foreign Company
Dear all, This time we have come up with an interesting FEMA Provisions relating to “Acquisition of Immovable Property in India by Foreign Company” #FEMAkeFUNDAE #FamiliarwithFEMA #rbi
Self-employment will also be considered as employment under section 6(1) of Income tax act
Saturday International Tax Gyan!!(SITG-196) #taxmadeeasy #taxinpic Employment as mentioned in Section 6(1) of the Income Tax Act shall also include self-employment or people going outside India for business purpose. “Assistant Commissioner of Income-tax v. Nishant Kanodia” [2024] 158 taxmann.com 262 (Mumbai – Trib.)[08-01-2024]
Non-Resident Ordinary Rupee Account Scheme – NRO Account
Dear all, This time we have come up with an interesting FEMA Provisions relating to “Non-Resident Ordinary Rupee Account Scheme – NRO Account” #FEMAkeFUNDAE #FamiliarwithFEMA #rbi
Salary received in India for employment exercised outside India is not taxable in India
Saturday International Tax Gyan!!(SITG-195) #taxmadeeasy #taxinpic Salary received by a Non-Resident Person in relation to employment exercised outside India would not be considered as income accrued or arise in India as per section 9 and Article 15 of India-Ireland DTAA “Anjali Puri Vs Deputy Commissioner of Income Tax”