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 : Examines whether India’s Equalisation Levy effectively addresses digital taxation challenges, highlighting its strengths, struct...
Income Tax : Equalisation Levy on online ads and e-commerce ends from AY 2026-27. Know scope, rates, compliance, exemptions, and due dates unde...
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 : 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 ...
EL-Equalisation Levy, Assessee-Any Person Resident or Non-Resident with Permanent Establishment 1. EMERGENCE OF EL Can you imagine the life without Technology? Certainly not. It is very appealing to the case with Digital Economy too. Today the way of doing business has changed drastically and dramatically. All tangible and intangible goods are being bought and sold […]
Background of Equalisation Levy Business may be conducted in digital domain without regard to national boundaries. This may dissolve the link between an income – producing activity and a specific location. To tackle taxation issues in transaction conducted in cyber space, equalization levy has been imposed. The Finance Act 2020 has been enacted after it […]
E-Commerce is here to stay. If the pandemic wasn’t enough to impress this point, suspension of international travel, visa delays and immigration bans are only increasing adaptability to E-Commerce amongst the masses. Recognizing that electronic transactions have far reaching implications with respect to taxation, the Indian legislature has put in place certain tax measures with […]
Taxation of Digital Economy As businesses adapt to an increasingly digitized environment, tax authorities are placing more focus on businesses tax processes and control. Unlike traditional businesses, companies that are part of digital economy are able to generate significant revenues in other countries without the need of physical presence in that country. This is one […]
Article explains guidelines for Mutually Agreed Procedure (MAP), Changes in Tax Residency Rules, Changes in equalization levy, Amendments w.r.t. Dividend Distribution Tax (DDT), Applicability of S 269 SU to B2B Businesses, Deferment for Approval/ Registration of Charitable Trusts & Exempt Institutions, Reduction in TDS/TCS Rates, TDS & TCS Rates Pre & Post 14th May 2020, […]
Equalisation Levy on E Commerce Operator (Applicable from 01.04.2020) Recently Finance Act has been passed on 27th March 2020 in which Section 165A has been added. In this, E Commerce Operators will pay equalisation levy @ 2% on the consideration received or receivable from the sale or provisioning of goods/services or facilitating the sale or […]
Taxation On Digital Companies In India And Scope Of Equalisation Levy After the liberalisation, territorial boundaries were no longer a restriction for businesses and enterprises, so an international market for various kinds of products and services emerged. Businesses have come ahead in the economic sphere to carry out trade activities across countries without having any […]
With the expansion of information and communication technology influencing the modes and scales of supply and procurement of goods and services exponentially, the digital economy has enabled conducting of businesses without regard to national boundaries and physical presence. The same has also resulted in novel issues in the tax regime regarding taxability of revenue from […]
With the emergence of SOCIAL MEDIA not only the world has become a small global village but also people have turned their hobbies into business. Since social media is a large platform where people interact on daily basis which has not only increased the network of a person but has also given wider stage for […]
The last minute rush to insert a substantive amendment in the form of Equalisation Levy 2.0 in the Finance Act 2020 has surprised many, besides leaving no room for planning its compliance given the law is effective from 1 April 2020, and the present situation of shutdown only compounds the problem.
