section 90

With the globalisation of the world trade and liberalisation of the Indian economy, the number of persons moving in or out of India in the exercise of their business, profession or employment is on the increase. As in most of the countries, the liability under the Indian Income tax law is also co-related to the residential status of the concerned tax payer. Section 6 of the Indian Income-Tax Act creates 3 categories as far as residential status is concerned. Full Article

The agreement between India and Bermuda has been entered to enhance co-operation and facilitate the exchange of information with respect to administration and enforcement of the domestic laws with respect to taxes. This may result in greater transpar Full Article

Section 90 of the Income-tax Act, 1961 – Double Taxation Agreement – Agreement among the Governments of SAARC Member States for avoidance of double taxation and mutual administrative assistance in tax matters NOTIFICATION NO. 3/2011-FTD-II [F.NO.500/96/97-FTD-II], DATED 10-1-2011 WHEREAS the annexed Agreement among the Governments of SAARC (South Asian Association for Regional Cooperation) Member States comprising [...] Full Article

Notification No. 86/2010 [F. No. 503/4/91-FTD-I], dated 26-11-2010 Whereas, an Agreement and the Protocol between the Government of Republic of India and the Government of the United Mexican States for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 10th [...] Full Article

Whereas, an Agreement and the Protocol between the Government of Republic of India and the Government of the Republic of Finland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 15th day of January, 2010; Full Article

The Central Government have notified the “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for the purpose of Explanation 2 to Section 90 of the Income Tax Act 1961 vide Notification No. 25 of 2010 (F.No.500/124/9-FTD-II). The notification enables the Central Government to enter into a double taxation avoidance agreement with SAR of Hong Kong. Full Article

In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for the purposes of the said section. 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