deloitte

India Signs first batch of five advance pricing agreements with MNCs

Income Tax - It goes to the credit of the CBDT and their APA team that the first batch of five APAs is being signed on 31 March 2014. They have taken just one year to achieve this milestone, which by international standard quite fast. It has been made possible by reasonable approach of the authorities and maturity shown by taxpayers. ...

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Visiting India post- employment abroad could trigger tax implications

Income Tax - In the context of the residential status of a person employed outside India, the Authority for Advance Ruling (AAR) has recently pronounced a decision in the case of Smita Anand (A.A.R. No.1091 of 2011 Dated 19.02.2014) which provides important learnings for employees wanting to settle back in India....

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Whether Additional Duty exemption can be claimed if the goods are cleared from SEZ to DTA on stock transfer basis

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in An exemption is given from additional duty of customs levied in lieu of Value Added Tax (‘ADC’) leviable under Section 3(5) of the Customs Tariff Act to the goods cleared from the Special Economic Zone (‘SEZ’) to Domestic Tariff Ar...

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Fees paid to sub-arrangers for mobilizing deposits cannot constitute fees for technical services

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in India has adopted the source rule for taxing royalties and technical services since 1976. The rule which is an exception to the general rule deems technical services to arise if the services are utilized in India irrespective of where the serv...

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Tax Residency Certificate (TRC) – In its new version

Income Tax - Provisions of requirement of Tax Residency Certificate were introduced last year. The Finance Minister has attempted to make changes to the existing provisions. The author analyses the changes that are proposed and the possible effects. ...

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Under-construction properties get costlier from 1st July 2010

Income Tax - Costs rise from 1st July 2010 for buyers of under-construction properties due to the imposition of a service tax on builders. Last week, the Central Board of Excise and Customs notified that a service tax of 10 per cent would be levied on the gross value (Excluding abatement) of a housing property under construction from July 1. Only prop...

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Recent Posts in "deloitte"

India Signs first batch of five advance pricing agreements with MNCs

No.402/92/2006-MC (31/03/2014)

It goes to the credit of the CBDT and their APA team that the first batch of five APAs is being signed on 31 March 2014. They have taken just one year to achieve this milestone, which by international standard quite fast. It has been made possible by reasonable approach of the authorities and maturity shown by taxpayers. ...

Read More
Posted Under: Service Tax |

Visiting India post- employment abroad could trigger tax implications

In the context of the residential status of a person employed outside India, the Authority for Advance Ruling (AAR) has recently pronounced a decision in the case of Smita Anand (A.A.R. No.1091 of 2011 Dated 19.02.2014) which provides important learnings for employees wanting to settle back in India....

Read More
Posted Under: Service Tax |

Whether Additional Duty exemption can be claimed if the goods are cleared from SEZ to DTA on stock transfer basis

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in An exemption is given from additional duty of customs levied in lieu of Value Added Tax (‘ADC’) leviable under Section 3(5) of the Customs Tariff Act to the goods cleared from the Special Economic Zone (‘SEZ’) to Domestic Tariff Ar...

Read More
Posted Under: Service Tax |

Fees paid to sub-arrangers for mobilizing deposits cannot constitute fees for technical services

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in India has adopted the source rule for taxing royalties and technical services since 1976. The rule which is an exception to the general rule deems technical services to arise if the services are utilized in India irrespective of where the serv...

Read More
Posted Under: Service Tax |

Tax Residency Certificate (TRC) – In its new version

Provisions of requirement of Tax Residency Certificate were introduced last year. The Finance Minister has attempted to make changes to the existing provisions. The author analyses the changes that are proposed and the possible effects. ...

Read More
Posted Under: Service Tax |

Budget 2013 – Proposed amendment to definition of Agricultural Land – Boon or a bane

The Finance Bill, 2013 has proposed to amend the definition of agricultural land. Here is an attempt to analyse the impact of such changes from a capital gains tax perspective. Any profit arising from sale of a capital asset would be chargeable to income tax under the head ‘capital gains’ and shall be deemed to be the income of the y...

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Posted Under: Service Tax |

Incentivizing flow of funds from foreign subsidiaries into India

The Hon’ble Finance Minister (FM) presented the Union Budget 2013 amidst major challenges facing the Indian economy. Some of the most important considerations for the FM were reviving growth, increasing savings and investments, reining in inflation and gaining back the confidence of the foreign investors. ...

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Posted Under: Service Tax |

India Budget 2013- Determining certainty on the Tax Residency Certificate

The Finance Minister of India presented his last Union Budget 2013 (The Budget)amidst rough financial environment. The Budget proposals comein light of the current challenging economic scenario.It is clear that Indian economy is not insulated from the global slowdown. The Indian downtrend has forced the Finance Minister to recommend slew ...

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Posted Under: Service Tax |

Increase in the income-tax rate on royalty and fees for technical services – plugging the rat hole with a big rock

Royalty and fees for technical services have always been surrounded with lot of controversies for some or other reasons. Though most of the controversies revolve around the taxability, the finance minister felt the need to correct the anomaly in the tax rate. ...

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Posted Under: Service Tax |

TDS on sale of immovable property – Tedious?

Budget 2013 proposal requires buyers to deduct tax at 1% on the sale consideration payable to resident sellers. However, there is no obligation on the buyer to deduct tax when the immovable property is an agricultural land. In order to avoid the compliance hassles for small tax payers this requirement will not apply if the total conside...

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Posted Under: Service Tax |
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