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Jatin Grover

Latest Posts by Jatin Grover

CbCR- Advanced Analysis

August 13, 2020 10677 Views 1 comment Print

In this article you will find detailed analysis of certain terms and issues which either OECD or certain other countries have clarified. Notification in respect of BEPS Action plan 13 is expected shortly from CBDT.

CBCR: Why Such Reporting, By Whom, When, What Are the Difficulties and Benefits

August 13, 2020 58458 Views 2 comments Print

CbCR (Country by Country Report) is one of the recent amendment which has created a lot of hue and cry in the industry, hence here in this article the author will provide the basic concepts related to CbC reporting for all the Chartered Accountants.

For TDS, Employee Now Have An Option to Opt For Lower Regime, But Is It Worth?

April 14, 2020 3270 Views 0 comment Print

CBDT vide Circular No.  C1/2020 dated 13.04.2020 has clarified that an employee, having income other than business income can intimate their employer to deduct TDS as per rates u/s 115BAC (Deduction of TDS under New Regime). However once such intimation is given, same cannot be modified later. Circular also provides that option at the time […]

DDT Abolition & TDS on dividend to Non-Resident Investors

April 3, 2020 65340 Views 3 comments Print

Abolition Of Dividend Distribution Tax (DDT) – A Compliance Burdens When It Comes to TDS Of Non-Resident Investors Introduction:- Finance Act, 2020 has abolished DDT regime under which Dividends paid by Domestic Company were exempt in the hands of receivers (including Non-Residents). Thus now companies will be liable to deduct TDS under following sections:- Particulars […]

House Property Remained Vacant – Check Out How to Calculate Your Income Tax Liability

February 21, 2020 151008 Views 14 comments Print

Income Tax Act, 1961 allows only 1 house property to be declared as Self occupied while all others are compulsorily required to be declared as rented out. In case of Property which is let out there exists a concept of Deemed Annual Value

Lower Tax Rate for Individuals / HUF- Only a Myth

February 2, 2020 2910 Views 2 comments Print

In Finance Bill, 2020 Honorable Finance Minister has provided an option to Individuals and HUF to opt for lower tax rate by foregoing certain exemptions / deductions. New slab rates under the lower tax option is as below:-

CBDT circular on MAT: Can it be claimed if Opting For Lower Rate?

October 4, 2019 11154 Views 0 comment Print

CBDT vide Circular 29/2019 dated 2nd October, 2019 has clarified that Companies opting for lower tax rates as per Section 115BAA will have to forego any MAT Credit Entitlement. However such Circulars are binding over Assessing Officers and not on assessees. Thus option to take a different stand is still possible for assessees although chances […]

Opting for Section 115BAA, have you lost your MAT Credit Entitlement?

September 22, 2019 4761 Views 2 comments Print

Taxation Laws (Amendment) Ordinance, 2019 has brought favourable amendments for corporates. However one amendment has taken the Industry to a dilemma. The dilemma is whether MAT credit entitlement available will be allowed to those opting for favourable rate under Section 115BAA. Section 115JB(5A) has been amended to provide that provisions of Section 115JB shall not be […]

Cabinet approves ratification of MLI, What is significance of ratification of MLI?

June 14, 2019 2706 Views 0 comment Print

Cabinet approves ratification of MLI. What is the significance of ratification of MLI?  Government of India through a press release on 12th June, 2019  has brought out the information of ‘Ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting‘. In this article, Author will provide a […]

Entry into Force of India – Hong Kong DTAA – What does it mean

December 3, 2018 5160 Views 1 comment Print

In this article, author will discuss the implication of Hong Kong and India both completing their relevant procedures in respect to double tax avoidance agreement (DTAA). Further it will be analyzed in detail meaning of various dates in respect to India – Hong kong DTAA and date from which it can be used for remittance to Hong Kong Residents.

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