international taxation

Countrywise Withholding tax rates / Chart as per DTAA

Income Tax - Country wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out by Finance Act, 2017...

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U S Taxation – Tax Exempt Organizations: Form No 990 and more to learn

Income Tax - Recently In a nationalized bank with representations from all over the world, diversity reflected when a Kashmiri reminisced the golden leaves of Chinar trees, picking up of millions of saffron flowers to make the mysterious saffron spice, the free-flowing Jhelum river...

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U. S. Taxation: Student Aid and other scholarships: Taxation aspects

Income Tax - The first part deals extensively the grants, scholarships, loans or other assistance available for students who are American citizens or Green card holders who want to pursue their education either for under graduation or higher education like Master programs....

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Withdraw proposed amendments to Section 90 & 90A: ICAI

Income Tax - The Finance Bill 2017 proposes to amend sections 90 and 90A of the Act, to provide that where any 'term' used in an agreement entered into under sub-section (1) of Section 90 and 90A of the Act, is defined under the said agreement,...

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U. S. Taxation: Partnership Firms– LLC & others– Series No. 1

Income Tax - It is a common debate among accounting professionals that Partnership firms in U.S.A. would solve all the problems and that they would recommend their clients to have the same structure for business. ...

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Cyprus seeks Indian investments to enhance ties: Nicos Anastasiades

Income Tax - President of the Republic of Cyprus urged Indian industry to invest in the country`s key areas including banking and finance, shipping and transportation, education, science and technology, pharmaceuticals, renewable energy and tourism in order to stimulate trade and investments between the two countries said at `India –Cyprus Business ...

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Name Change? How It Impacts Taxes in USA

Income Tax - A name change can have an impact on taxes. All the names on a taxpayer’s tax return must match Social Security Administration records. A name mismatch can delay a tax refund. Here’s what taxpayers should know if they changed their name:...

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IRS Reminds International Taxpayers of Tax Obligations; Clarifies Rules for Tax Withholding Agents

Income Tax - The Internal Revenue Service today reminded non-U.S. citizens who may have taxable income, such as international students and scholars who may be working or receiving scholarship funds, that they may have special requirements to file a U.S. tax return....

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India and Kazakhstan sign Protocol to amend DTAC

Income Tax - India and Kazakhstan have signed today a Protocol to amend existing Double Taxation Avoidance Convention (DTAC) between two countries signed on 9th December, 1996...

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BRICS support all international initiatives for fair/transparent tax system

Income Tax - BRICS Heads of Revenue express their continued support to all international initiatives towards reaching a globally fair and universally transparent tax system; Reiterate their commitment to actions taken to ensure the fairness of the International Tax System....

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Payment for Net Communication system developed by principal for smooth functioning of shipping business is not FTS

DIT Vs. A. P. Moller Maersk, (Supreme Court) - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in In this Case Hon’ble Supreme Court held that Payments made by the agents to the concerned foreign assessee, for using the facility of Net Communication System, developed by the assessee for smooth ...

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Taxability of business done by NRI through Power of Attorney holder

Carpi Tech SA Vs ADIT (ITAT Chennai) - Assessee submitted that project receipt from Tanakpur Power Project of NHPC work is exempt from tax in India for the reason that assessee does not have continuous presence or 'business connection' or a permanent establishment in India....

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TP – Notional Interest on Excess Credit Period/ Delayed Payment

Tally Solutions Pvt. Ltd. Vs. ACIT (ITAT Bangalore) - The treatment of extended credit period to Associated Enterprises(AEs) as an international transaction and making adjustment of notional interest on the same has always been bone of contention between the assessee and department. ...

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TDS not deductible on web hosting & marketing services procured from US based entity

DCIT Vs M/s Matrimony.Com Pvt. Ltd. (ITAT Chennai) - The ITAT Chennai held that payments made by the assessee in the nature of webhosting and marketing expenses to US based service provider could not be taxed as Fees for technology services because there were not transfer of technology involved in render of services such that the services could be con...

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Section 94-A(1) is Constitutional Valid : Madras High Court

T. Rajkumar & Others Vs UOI & Ors. (Madras High Court) - The Hon'ble Madras High court in the above cited case held that central govt can notify a country as notified jurisdictional area u/s 94A inspite of the fact that there exist a Double Tax Avoidance Agreement provided the DTAA is not serving the intended purpose for which it was entered into. ...

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Reg. removal of Cyprus from list of notified jurisdictional areas U/s. 94A

Circular No. 15/2017-Income Tax - (21/03/2017) - It is hereby clarified that Notification No. 86/2013 has been rescinded with effect from the date of issue of the said notification, thereby, removing Cyprus as a notified jurisdictional area with retrospective effect from 01.11.2013....

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Principles for determination of Place of Effective Management (POEM) of a Company

Circular No. 06/2017-Income Tax - (24/01/2017) - Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated wholly in India....

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CBDT notifies Protocol between India and Cyprus

Notification No. 03/2017-Income Tax - (10/01/2017) - Protocol between India and Cyprus for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income ...

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CBDT notifies rules for Foreign Tax Credit

Notification No. 54/2016-Income Tax - (27/06/2016) - Foreign Tax Credit.- (1) An assessee, being a resident shall be allowed a credit for the amount of any foreign tax paid by him in a country or specified territory outside India, by way of deduction or otherwise, in the year in which the income corresponding to such tax has been offered to tax or ass...

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India-Mauritius DTAA amended to tackle round tripping of funds

NA - (10/05/2016) - Revised Protocol will tackle the long pending issues of treaty abuse and round tripping of funds attributed to the India-Mauritius treaty, curb revenue loss, prevent double non-taxation, streamline the flow of investment and stimulate the flow of exchange of information between India and Mauritius....

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Recent Posts in "international taxation"

Countrywise Withholding tax rates / Chart as per DTAA

Country wise Withholding tax rate on Dividend (not being covered under Section 115-O), Interest, Royalty and Fee for Technical Services as updated with amendment carried out by Finance Act, 2017...

Read More
Posted Under: Income Tax |

Cyprus seeks Indian investments to enhance ties: Nicos Anastasiades

President of the Republic of Cyprus urged Indian industry to invest in the country`s key areas including banking and finance, shipping and transportation, education, science and technology, pharmaceuticals, renewable energy and tourism in order to stimulate trade and investments between the two countries said at `India –Cyprus Business ...

Read More
Posted Under: Income Tax |

Reg. removal of Cyprus from list of notified jurisdictional areas U/s. 94A

Circular No. 15/2017-Income Tax (21/03/2017)

It is hereby clarified that Notification No. 86/2013 has been rescinded with effect from the date of issue of the said notification, thereby, removing Cyprus as a notified jurisdictional area with retrospective effect from 01.11.2013....

Read More

U S Taxation – Tax Exempt Organizations: Form No 990 and more to learn

Recently In a nationalized bank with representations from all over the world, diversity reflected when a Kashmiri reminisced the golden leaves of Chinar trees, picking up of millions of saffron flowers to make the mysterious saffron spice, the free-flowing Jhelum river...

Read More
Posted Under: Income Tax |

U. S. Taxation: Student Aid and other scholarships: Taxation aspects

The first part deals extensively the grants, scholarships, loans or other assistance available for students who are American citizens or Green card holders who want to pursue their education either for under graduation or higher education like Master programs....

Read More
Posted Under: Income Tax |

Withdraw proposed amendments to Section 90 & 90A: ICAI

The Finance Bill 2017 proposes to amend sections 90 and 90A of the Act, to provide that where any 'term' used in an agreement entered into under sub-section (1) of Section 90 and 90A of the Act, is defined under the said agreement,...

Read More
Posted Under: Income Tax |

Payment for Net Communication system developed by principal for smooth functioning of shipping business is not FTS

DIT Vs. A. P. Moller Maersk, (Supreme Court)

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in In this Case Hon’ble Supreme Court held that Payments made by the agents to the concerned foreign assessee, for using the facility of Net Communication System, developed by the assessee for smooth functioning of its international shippin...

Read More

U. S. Taxation: Partnership Firms– LLC & others– Series No. 1

It is a common debate among accounting professionals that Partnership firms in U.S.A. would solve all the problems and that they would recommend their clients to have the same structure for business. ...

Read More
Posted Under: Income Tax |

Taxability of business done by NRI through Power of Attorney holder

Carpi Tech SA Vs ADIT (ITAT Chennai)

Assessee submitted that project receipt from Tanakpur Power Project of NHPC work is exempt from tax in India for the reason that assessee does not have continuous presence or 'business connection' or a permanent establishment in India....

Read More

Name Change? How It Impacts Taxes in USA

A name change can have an impact on taxes. All the names on a taxpayer’s tax return must match Social Security Administration records. A name mismatch can delay a tax refund. Here’s what taxpayers should know if they changed their name:...

Read More
Posted Under: Income Tax |
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