Section 9A of the Act provides for a special regime in respect of offshore funds by providing them exemption from creating a “business connection” in India on fulfilment of certain conditions. It provides that in the case of an eligible investment fund, the fund management activity carried out through an eligible fund manager acting on […]
Skipper Limited Vs Union of India (Allahabad High Court) The provision shows that upon seizure of goods and conveyances in transit, the Revenue shall issue a notice specifying the tax and penalty liable to be paid by the assessee and pass an order for payment and tax and penalty in the manner provided under Clause […]
It is argued by the Appellant the supplies under the present case are not being made in the conjunction with each other, as the supply of services i.e. erection, commissioning, installation, testing etc. are undertaken only after the supply of the goods, i.e. UPS systems and other accessories, have been effected to the recipient of the goods
ITATheld that the ad hoc determination of ALP de-hors Section 92C of the Act cannot be sustained, rendering the entire transfer pricing adjustment unsustainable in law.
It is, therefore, proposed to amend section 94B of the Act so as to provide that provisions of interest limitation would not apply to interest paid in respect of a debt issued by a lender which is a PE of a non-resident, being a person engaged in the business of banking, in India.
Budget 2020- Increase in safe harbour limit of 5% u/s 43CA, 50C and 56 of the Income Tax Act to 10% Section 43CA of the Act, inter alia, provides that where the consideration declared to be received or accruing as a result of the transfer of land or building or both, is less than the […]
Insurance companies are significant institutional investors in listed companies and the investments are held by them as custodians of policyholders’ funds. The state of governance of the investee companies is an important aspect and insurance companies must ensure that investee companies maintain corporate governance standards at high level.
Validity of the Pre-shipment Inspection Agencies (PSIAs) as listed in the Appendix 2G of A&ANF, whose validity expires on or before 30.3.2020, is extended up to 31.3.2020.
Reserve Bank of India RBI/2019-20/158 DOR.No.BP.BC.33/21.04.048/2019-20 Dated: February 07, 2020 The Chairman / Chief Executive Officer All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks Madam/Dear Sir, Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances – Projects under Implementation Please refer to the circular DBR.No.BP.BC.84/21.04.048/2014-15 dated April 6, 2015 on the subject. […]
Service Tax – Irrespective of the person who maintains canteen in a factory, exemption as per Entry 19A of 25/2012-ST is available to such person – Benefit cannot be whittled down by restricting it to factory owner alone: CESTAT
