Case Law Details
Case Name : Unnikrishnan V S Vs ITO (ITAT Mumbai)
Related Assessment Year : 2013-14 and 2014-15
Courts :
All ITAT ITAT Mumbai
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Unnikrishnan V S Vs ITO (ITAT Mumbai)
Article 15 of India-UAE Treaty permits taxation of ESOP benefit, which is included in the scope of the expression ‘other similar remuneration’ appearing immediately after the words ‘salaries and wages’, in the jurisdiction in which the related employment is exercised. Thus, in case the assessee is to get ESOP benefits in respect of his service in U.A.E. and he exercises these options at a later point of time, say after returning to India and ceasing to b Please become a Premium member. If you are already a Premium member, login here to access the full content.
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To restate (posted elsewhere) :ADMN./ Author
“ITAT order on Taxability of ESOP to Dubai Based Employee of HDFC Bank” –
As regards the cited itat order, attempts personally made to ascertain further developments / outcome and the present status have proved unsuccessful. To firm up own views and form a conclusive opinion, it might be worthwhile to get in touch with HDFC, and /or the aggrieved employee himself ; and the CA Firm/ Partner (G P Kapadia co.) by whom the employee was represented before the itat !?
Q
The assessee, Unnikrishnan V. S. is an individual, who is an employee of HDFC Bank Limited, Mumbai, and currently on deputation to HDFC Bank Representative Office in Dubai. The status of the assessee is of the non-resident. UQ
REaction (personal) : Are these crucial facts not more than adequate/clinching for the AO to have granted a refund of the TDS , simply on the ground that in the case of a ‘NONresident’ , income chrageable under the head of ‘salaries’ (including perqs.) is or could not be taxed in INdia as cleatly and unequivocally envisaged in the IT Act. That is, there being no need or warrant whatsoever for going into the tax treaty implications.
Notwithstanding that, the assessee has, unwittingly or otherwise, placed his claim for refund by invoking the concept of ‘DTA relief’ ?!?
OVER to…