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
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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
Status Update on Applicability of MLI in India – JSCO | SITG
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’).
Long term export advance
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
Rent earned from property situated outside India by assessee resident in India cannot be taxed in India – JSCO | SITG
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. …