Income Tax : Equalisation Levy, initially imposed on online advertisements and later extended to e-commerce transactions, ceases to apply from ...
Income Tax : The article analyses why India may continue its Equalisation Levy regime beyond August 2024 due to delays in the OECD/G20 Pillar O...
Income Tax : India introduced a 6% and later 2% digital tax to capture revenue from non-resident tech giants operating without a permanent esta...
Income Tax : A clear analysis of India’s 6% and 2% digital tax framework, its legal basis under the Finance Acts of 2016 and 2020, and its gl...
Income Tax : Explains how India introduced the Equalisation Levy to tax foreign digital companies without physical presence. Highlights its imp...
Income Tax : Key changes to Equalisation Levy from August 2024: the 2% tax on e-commerce transactions will be removed. Learn about the new prov...
Finance : Learn about the extension of India-USA agreement on Equalisation Levy 2020 until June 30, 2024, amidst OECD/G20 negotiations on di...
Income Tax : On October 8, 2021, India and United States joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, Franc...
Income Tax : The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges ...
Income Tax : The Government has introduced equalization levy of 6 per cent on online advertisers. The Finance Act, 2016 had inserted a separate...
Income Tax : The Madras High Court held that reimbursements made to a foreign subsidiary for online advertising expenses were not included with...
Income Tax : ITAT Jaipur held that equalization levy not applicable as role of the assessee is merely conduit between the entity carrying out t...
Income Tax : Addl. CIT Vs Lenskart Solution (P) Ltd. (ITAT Delhi) It was claimed by the Assessee that as the Assessee had made the payment to F...
Income Tax : The issue under consideration is whether the equalisation levy will be applicable in case of Mastercard Asia or not?...
Income Tax : Centralised Processing of Equalisation Levy Statement Scheme, 2023 shall be applicable in respect of processing of Equalisation Le...
Income Tax : CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961 On consideration of difficulties repo...
Income Tax : Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlie...
Income Tax : Payment of Equalisation levy. ─ The assessee or e-commerce operator, as the case may be, who are required to deduct and pay equa...
Income Tax : Principal Chief Commissioner of Income-tax (International Taxation), Delhi, in supersession of this office order no. 1/2020 dated ...
The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges posed by the enterprises who conduct their business through digital means and carry-out activities in the country remotely, the following measures have been taken:
Introduction to Google tax or Equalization levy The ‘Google Tax’ or ‘Facebook Tax’ which was first announced in the FY17 budget statement by Finance Minister Arun Jaitley will be levied from June 1 2016. Here’s all you need to know about it — what Google Tax is, who will pay it, and its implications — […]
This articles is all about the relevant sections and provisions that deals with the Equalisation levy. explains briefly about its changeability, levy, statement required to be furnished along with the due date and all other related provisions.
It’s been almost eight months since the equalisation levy was imposed on payment for specified service which includes online advertisement, any provision for digital advertising space or any other facility or service for the purpose of online advertisement and includes any other service as may be notified later, provided by a Non-resident who doesn’t have a permanent establishment (PE) in India.
Equalization levy may be a quick and easy way to tax digital transactions but is prone to many other complications and hence may not be the right solution from a long term perspective. This is also evident from the fact that though Equalization levy was discussed by OECD in its Action Plan for taxation of digital economy, it did not finally recommend this measure.
The Government has introduced equalization levy of 6 per cent on online advertisers. The Finance Act, 2016 had inserted a separate Chapter VIII titled Equalization Levy in order to tap tax on income accruing to foreign e-commerce companies from India. It was provided that a person making payment exceeding in aggregate 1 lakh rupees in a year, to a non resident
There is a possibility of countermeasures being adopted by foreign countries against the unilateral levy by India. For example, if US Treasury is of the opinion that these actions potentially undermine U.S. rights under the tax treaty, and lead to discriminatory treatment
Online advertising spends in India have risen on account of greater digital penetration and increased use of the web as a credible advertising medium. The biggest beneficiaries of the increase in this expenditure have been online advertising companies (Facebook, Google etc.) who have seen their revenues from India steadily rise.
Rules to The Finance Act, 2016 states that with effect from July 1, 2016, equalization levy @ 6% should be deducted by a resident or non-resident (having permanent establishment in India) on the amount of consideration paid or payable to the non-resident not having permanent establishment in India.
‘Specified Service’ means online advertisement, any provision for digital advertising space or any other facility or service for the purpose of online advertisement and includes any other service as may be notified by the Central Government in this behalf.
