Due to the spread of COVID-19 virus, workers employed in industry, agriculture, construction and other sectors have moved from their respective places of work, and are housed in relief/ shelter camps being run by State/ UT Governments. Since additional new activities, outside the containment zones, have been permitted in the consolidated revised guidelines with effect […]
Taxability of Short Term Capital Gain (STCG) to Non-Resident u/s 111A vis-à-vis Non Discrimination Clause of DTAA- Taxation of a Non-Resident is always been a question of ambiguity and litigation for the known fact that none of the country never prefer to lose any potential income in the form of taxes and which many times results into either double taxation or illegitimate levy of tax.
Indian citizen residing abroad, foreign citizen and other than individual (like company or trust or firm etc.) who wants to apply for PAN should fill the PAN application 49AA. Basically PAN application for Non Resident can be bifurcated into three categories
As we all know that, whenever we visit TRACES website for any of TDS return related work at that time, we always face this issue that every time for any single process eg justification report or conso file, etc we always need to feel KYC and gone through that lengthy process. Hence now department has […]
ICAI has enriched Digital Learning Hub (DLH) with E-Book and Video Lectures on various topics. In the time of COVID -19 outbreak where we are in lockdown situation, continuous learning of Chartered Accountants is ensured through DLH along with provision of Structured CPE Hours. Needless to say, that there is no fee associated to access the DLH.
Surcharge and Education Cess was not leviable on receipts in the nature of Royalties and reimbursements of other expenses, which was offered to tax by assesse on gross basis under the India – France DTAA.
The taxpayers will therefore have to weigh their options carefully before opting for settling their disputes pertaining to reduction in loss/unabsorbed depreciation or MAT credit. Every permutation and combination ought to be examined to determine whether it is advisable to avail the scheme or litigate the matter.
Deductions either under Section 10A or 10B would be made while computing the gross total income of the eligible undertaking and not at the stage of computation of the total income.
When partnership firm was transformed into private limited company, there was no distribution of assets and as such, there was no transfer and therefore, assessee was not liable to pay any tax on capital gains.
Governor’s Statement, April 17, 2020 Today, humanity faces perhaps the trial of its time as COVID-19 grips the world in its deadly embrace. Everywhere, as also in India, the mission is to do whatever it takes to prevent epidemiological curve from steepening any further. Human spirit is ignited by the resolve to overcome the pandemic. […]
