Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Educational services is not only restricted to teaching but also includes activities of evaluation & examinations [2022] 140 taxmann.com 596 (Hyderabad – Trib.)
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Foreign tax credit (FTC) cannot be disallowed where assessee has filed Form No. 67 before completion of the assessment. (Sonakshi Sinha v. Commissioner of Income-tax (Appeals) [2022] 142 taxmann.com 414 (Mumbai – Trib.))
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Shared services provided for the internal use of group companies/members is not liable to tax. (Deloitte Haskins & Sells LLP V/s Deputy Commissioner of Income-tax, (IT) [2022] 141 taxmann.com 205 (Mumbai – Trib.))
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Recently we have seen that Form 10F needs to be filed online on e-filing portal for which the Non-resident will have to take PAN and DSC in India. Today we shall discuss the situations wherein Form 10F will not be mandatory if various conditions are fulfilled and will check on sample …
Is Form 10F mandatory if TRC contains all details – JSCO | SITG Read More »
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Enrichment of service recipient/Addition to his capabilities sans transfer of skill/technology will not satisfy “make available” clause, and hence is not taxable as FTS under DTAA (NTT Asia Pacific Holdings Pte Ltd. V/s Assistant Commissioner of Income-tax, Circle 2(1)(2)[2022] 141 taxmann.com 137 (Mumbai – Trib.))
Saturday International Tax Gyan!! #taxmadeeasy #taxinpic Grant of right to install and use software & providing cloud computing software does not include providing copyright of said software to clients and the same would not be taxable as royalty. [[2022] 140 taxmann.com 121 (Delhi Tribunal)]
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)]]
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.
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.)]
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).
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