Income Tax : Explore the evolution of India Equalization Levy, from its introduction in 2016 to the 2020 amendments, focusing on e-commerce ope...
Income Tax : Introduction: Equalisation Levy, introduced by the Indian government, aims to tax specific digital services provided by non-reside...
Income Tax : Explore impact of Equalization Levy (EL) on specified services. Learn about rates, responsibilities, due dates, and consequences f...
Income Tax : Explore scope, rates, and compliance of Equalisation Levy introduced by Finance Act, its extension to e-commerce, and key conditio...
Income Tax : Explore the intricacies of Equalisation Levy in India. Learn about online advertising, e-commerce, rates, exemptions, and complian...
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 : Rules to The Finance Act, 2016 states that with effect from July 1, 2016, equalization levy @ 6% should be deducted by a resident ...
Income Tax : This is to inform you that as per the Notification No. 37/2016: F.No. 370142/12/2016-TPL dated 27 May 2016 read with Finance Act, ...
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 ...
Understanding New Equalisation Levy & TDS on e-Commerce Transactions with Practical Illustrations Section 163 to 172 of ‘CHAPTER VIII OF THE FINANCE ACT, 2016- EQUALISATION LEVY’ deals with Equalisation levy definition, interest, penalty, filing of the annual statement, the penalty for failure to furnish statements. 1. Digital Tax: The Backdrop With the expansion of information […]
Scope of Equalisation Levy Extended The Finance Act, 2016 introduced Equalisation Levy with effect from 01-06-2016. This levy is charged at the rate of 6% from the consideration paid or payable to a nonresident person for the online advertisement services. The Finance Bill, 2020, as passed by the Lok Sabha, has extended the scope of […]
In Finance Act, 2020 the scope of Equalisation Levy has been expanded to include Equalisation levy of 2 % by an ‘e-commerce operator’ from ‘e-commerce supply or services’. In this article I have discussed the existing Equalisation Levy provisions along with new amendment related to E-commerce supply or services. Equalisation Levy means tax leviable and […]
From 01-04-2020, the equalisation levy shall be charged at the rate of 2% from the consideration received or receivable by an e-commerce operator from e-commerce supply of goods or services made or provided or facilitated by it to the following persons:
Equalization levy and amendments in Finance Act 2020 Section 163 to 172 deals with Equalisation levy definition, interest, penalty, filing of the annual statement, the penalty for failure to furnish statements. Challan no 285 is used to deposit Equalisation levy. Form -1 on income tax site is to be filed on or before 30th June […]
Amidst the COVID-19 outbreak and lockdown in various states, the Finance Bill 2020 ( Bill) introduced vide Union Budget 2020-21 was passed by both Houses of Parliament, with certain amendments. On 27 March 2020, the Bill has received President’s assent. Read-President Assents Finance Act, 2020 Key amendments by Finance Act , 2020 in Comparison to […]
Assessing Officer working in the Principal Chief Commissioner of Income-tax (international Taxation) Region having Jurisdiction in respect of the assessees for the purpose of the Income-tax Act, 1961, to exercise or perform all or any of the powers and functions conferred on, or, assigned to an Assessing Officer for the purpose of Chapter VIII of Finance Act, 2016 .
Considering the potential of new digital economy and the rapidly evolving nature of business operations it is found essential to address the challenges in terms of taxation of digital transactions as the typical direct tax issues relating to e-commerce are the difficulties of characterizing the nature of payment and establishing a nexus or link between a taxable transaction, activity and a taxing jurisdiction, the difficulty of locating the transaction, activity and identifying the taxpayer for income tax purposes.
As of now, this tax law is applicable only on online advertisements. This tax applies to advertisers, not publishers. Means it will not affect your Adsense earning. If you Publish ads on your website with AdSense, this tax doesn’t apply because you are a publisher.
Equalization levy and widening of tax base through the introduction of concept of Significant Economic Presence are the two measures which have been adopted by India for taxation of digital economy.
