double taxation avoidance

Union Finance Minister, Shri Pranab Mukherjee and Norwegian Minister of Research and Higher Education, Ms Tora Aasland signed an agreement, here today for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on inco Full Article

Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes. However, Sithanen, who is also the finance and economic development minister, promised to cooperate with Indian authorities to check tax evasion in case of complaints, but added his country would not welcome 'fishing expeditions'. Full Article

The Tribunal was incorrect in holding that since the assessee had purchased only a right to use the copyright i.e., the software, and not the entire copyright itself, the payment cannot be treated as Royalty as per the Double Taxation Avoidance Agreement and Treaties which is beneficial to the assessee and consequently section 9 of the Act should not be taken into consideration. Full Article

A senior revenue department official told , There are three issues on which a political call is required. These are: the exempt-exempt- tax regime for retirement savings, the 2 per cent minimum alternate tax on gross tax assets of companies and the proposal to tax charitable organisations at 15 per cent. Hectic lobbying by interest groups is still on for dilution or an altogether elimination of these proposals from the final draft. Full Article

Amendment of section 90 :-The Finance Bill (No. 2) 2009 proposes to replace the existing Section 90 with a new section 90. The new section 90 is substantially the same as earlier section 90 except that the proposed amendment seeks to empower the Central Government to enter into an agreement with the Government of any country outside India or a specified territory outside India, inter alia, for avoidance of double taxation of income. Full Article

Introduction: Reaping benefits of privatisation, liberalisation and globalisation, many Indian companies, especially the IT and ITES companies, have been able to establish thumping international presence. To ensure timely delivery, installation, customisation and maintenance of products and rendering of services outside India, these companies have established branches or subsidiaries outside India or entered into various arrangements [...] Full Article

Switzerland has said exchanging details of bank accounts with India would be possible once the tax treaty, aimed at tracking black money, between the two nations is revised. “India and Switzerland are in renegotiations to adapt the existing double taxation treaty. Once this revised double taxation treaty comes into force, it will be possible to exchange account details,” Swiss Federal Tax Administration spokesman Beat Furrer told PTI in an email reply. Full Article

The applicant is a non-resident shipping Company incorporated under the laws of Switzerland and is in the business of shipping contracts for the transportation of cargo worldwide. During the financial years 2007-08 and 2008-09, the applicant entered into a shipping contract for transportation of cargo from Indian ports to China. The amount of freight for transportation of cargo from the Indian port to a port outside India was invoiced and received by the applicant. Full Article