"I am a Founder and Author at Tax-o-phile, Domestic Taxation, and International Taxation Executive at Atul Kumar Singhal & Associates. Reading new and latest amendments and updates in International Taxation is his hobby. "
Protocol to India’s Double Taxation Avoidance Agreements (DTAAs) with a portion of the nations, particularly European States and OECD individuals (The Netherlands, France, the Swiss Confederation, Sweden, Spain and Hungary) contains an arrangement, alluded to as the Most-Favored-Nation (MFN) provision.
1. Clause 47A have been inserted in section 2, to provide definition of Virtual Digital Currency. The motive of the insertion is to tax Cryptocurrencies, Non-fungible tokens (NFTs) and the same like instruments. Therefore, the definition of Virtual digital currencies and NFTs have been added in the legislature. Text: ‘(47A) “virtual digital asset” means–– (a) […]
Stare decisis is also known as the concept of precedent, which means the decision taken by the higher courts shall be followed/binding on the lower courts, which stands as a precedent to the lower courts. This gives the law finality and maintains consistency and permanence. Principle settled, accepted, and acted upon for a long should […]
In the case of Lakshya Budhiraja [2021] 131 taxmann.com 51 (SC), the additional solicitor general submitted that the department is considering the change in Faceless Appeal Scheme, 2020. Hon’ble Supreme Court of India had allowed Additional Solicitor general time of 3 months to get it implemented. Meeting the deadline and time allowed by the Hon’ble […]
