Income Tax : This guide explains the tax exemptions, concessional tax rates, presumptive taxation schemes, and compliance benefits available to...
Income Tax : The guide compiles the principal Income-tax Act provisions applicable to non-residents establishing business in India and resident...
Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : The applicable withholding tax depends on the Income-tax Act or the relevant DTAA, whichever is more beneficial. Treaty rates diff...
Income Tax : The article explains how India's Place of Effective Management (POEM) rules may treat a foreign company as an Indian tax resident ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Corporate Law : Learn about CRS and FATCA, how India receives foreign account info, and the disclosure requirements for foreign assets and income ...
Income Tax : From April 2025, foreign taxes withheld must be included in total income for accurate reporting under section 198. Aims to prevent...
Income Tax : Explore challenges in TRC applications under DTAA by Indian companies. KSCAA proposes reforms for a simpler, efficient process. Le...
Income Tax : Appendix-I Declaration of no PE in India Declaration required u/s 9 of Income Tax Act, and for claiming relief under an agreement ...
Income Tax : The Tribunal held that AMP expenditure incurred in India without any agreement or arrangement with the foreign AE cannot be treate...
Income Tax : The Bombay High Court held that royalty refunded by a foreign company to its Indian subsidiary under an Advance Pricing Agreement ...
Income Tax : The ITAT found inconsistencies in the selection and rejection of comparable companies for determining the arm’s length price of ...
Income Tax : The Tribunal ruled that a Dependent Agent PE arises only if agents habitually conclude contracts or secure orders on behalf of the...
Income Tax : The Karnataka High Court ruled that interconnect service charges paid to non-resident telecom operators do not constitute royalty....
Income Tax : The Finance Ministry notifies the India-Belgium protocol amending the 1993 tax treaty, effective June 26, 2025, updating definitio...
Income Tax : Notification implements the India-Qatar Double Taxation Avoidance Agreement (DTAA) and Protocol, effective from the next fiscal ye...
Income Tax : Explore the Notification No. 33/2024 on the agreement between India and Spain for tax exchange. Understand its implications and ch...
Income Tax : Explore implications of Notification No. 21/2024 from Indias Ministry of Finance regarding the tax information exchange pact with ...
Income Tax : Notification No. 96/2023-Income Tax: Learn about the agreement between India and Saint Vincent for tax information exchange and as...
When a non-resident sportsman comes to India for participating in any game or sport then a question arises which country has right to charge tax on such income earned by sportsmen by participating in game or sport and what are the tax implications on such income earned. Non-Resident Sportsmen means he is not the Citizen […]
Finance Act 2020 applicable for AY 2021-22 has altered the provisions for Indian Citizens and Persons of Indian Origin (PIO). Accordingly the period of 182 days specified in the Explanation for Indian citizen and person of Indian origin with total income other than income from foreign sources more than Rs. 15 Lacs, has been reduced to […]
Residential Status of an Individual under the Income Act,1961 as amended by Finance Bill 2020 Residential Status of an Individual determines the liability of an individual to tax in India according to the nature, source, accrual or receipt of Income. Section 6 of the Income Tax Act, 1961 lays down the criteria for determining the […]
Protocol Between The Government Of The Republic Of India And The Government Of The Republic Of Austria Amending The Convention For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income, Which Was Signed At Vienna On 8 November, 1999
Taxation of a person depends on his residential status in the country. Section 6 sub-section (1) of the Income Tax Act, 1961 provides the circumstances under which an INDIVIDUAL is said to be Resident in India. Once the INDIVIDUAL is said to be resident in India, then we need to find out if he qualifies […]
Reimbursement can be described as repayment of what has already been spent or incurred. Therefore, it should not be considered a reward or compensation for a service rendered.
Taxation of Periodic Interest income earned from investments in bonds and Debentures :- When Investments is made in Listed /Unlisted Securities being Bonds and Debentures in a currency other than Indian Currency by the Non Residents. FAQs on above – 1) What is the treatment of interest income earned on bonds and Debentures subscribed in […]
A General Discussion of the Taxation of Capital Gains for the purposes of Non Residents Assessee when they transfer the debt Securities specially bonds and Debentures held by them. This discussion is presented using FAQs Technique when Listed Bonds and Debentures of Indian Company /Government Bonds is sold /Transferred , which was originally subscribed in […]
Direct Tax & International Tax Perspective–Part I Income Tax Returns 1. Whether there is any extension of due dates in filing the belated returns for the Financial Year 2018-19? Answer: Yes, due date income tax return for Financial Year 2018-19 was 31st March 2020. The Ministry of Finance, vide Press Release dated 24.03.2020 has extend the due […]
Explains repatriation rules for NRO accounts, including limits, permissible transfers to NRE accounts, remittance conditions, credits, debits, and FEMA compliance.
