Income Tax : Understand TDS on rent with this guide. Learn about Section 194IB & 195 of the Income Tax Act, their differences, rates, and compl...
Income Tax : Unravel the complexities of Section 195 in India's Income Tax Act. Explore TDS rates, compliance steps, and strategies for non-res...
Income Tax : Learn about Section 194-IA and essential aspects of TDS when buying property in India. Explore deductor-deductee roles, exemption ...
Income Tax : Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....
Income Tax : Learn about tax procedures and implications when an NRI sells property in India to a resident. Explore how to reduce TDS and obtai...
Income Tax : Direct & Indirect Taxes : Monthly Updates Date & Time – 3rd December 2022 (Time:11 a.m to 12:30 p.m) Tax Guru is Organiz...
Income Tax : Clarification on certain procedural and technical issues regarding the Income Disclosure Scheme, 2016 (IDS) under section 119 of t...
Income Tax : Finance Act, 2012 extended the obligation to withhold taxes to non- residents irrespective of whether the non-resident has -...
Income Tax : Government has recently modified the Foreign Exchange Management (Current Account Transactions) Rules, 2000 and the Liberalized Re...
Income Tax : The Supreme Court judgement on Vodafone tax case seems to have opened a Pandora's box with exporters too expressing reservation on...
Corporate Law : Explore the implications of creditors initiating insolvency proceedings against personal guarantors under Section 95(1) of IBC in ...
Income Tax : In a case before ITAT Delhi, it was ruled that payment made overseas for tariff information does not constitute 'FTS', hence no TD...
Income Tax : ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital r...
Income Tax : Understand the grounds of appeal in the case against the final assessment order under the Income Tax Act, 1961, for AY 2017-18, in...
Income Tax : Assessee was incorporated in Japan and was in the business of providing telecommunication services. Assessee provided fixed, mobil...
Income Tax : it has been decided that no such request for Form 15E for certificates under section 195(2) & 195(7) for a particular Financial Ye...
Income Tax : CBDT vide notification No. 18/2021-Income Tax, Dated: March 16, 2021 inserted new rule 29BA. Application for grant of certificate ...
Income Tax : Clarification on orders dated 31.03.2020 and 03.04.2020 issued under section 119 of the Income-tax Act, 1961 (the Act) by CBDT vid...
Income Tax : In case of pending applications for lower/nil rate of TDS/TCS for F.Y. 2019-20, the Assessing Officers have been directed to dispo...
Income Tax : CBDT Order on issue of certificates for lower rate/nil deduction/collection of TDS or TCS uls 195, 197 and 206C (9) when Assesee w...
Moonfrog Labs Pvt. Ltd. Vs ACIT (ITAT Bangalore) The Ld.CIT(A) held that the advertisement expenses paid to Facebook and other entities constitutes use of industrial, commercial or scientific equipment under section 9(1)(vi) of the Act whether active or passive and hence ‘Royalty’ under the Act. As regards taxability as ‘“Fees for technical services’, it was […]
Section 40(a)(i) did not contemplate order wise commission based on the order value. Consequently, the expenditure on export commission payable to non-residents for services rendered outside India became an allowable expenditure.
IT support services availed by assessee-Indian company from foreign companies were standard connectivity and networking services could not be termed as technical services within the meaning of Section 9(1)(vii) and therefore, assessee was not liable to deduct TDS on such expenditures.
Financial Software and Systems Private Limited Vs CIT (Madras High Court) The question of law which is involved is with regard to whether the assessee was liable to deduct Tax at Source in respect of the Computer Software which was dealt with by them, procured from a Non-Resident and sold in the Indian Market. This […]
Target marketing on overseas social media or automated advertising platforms not taxable as ‘Royalty’ In a major relief to taxpayers availing online marketing services from social media platforms like Facebook, the Bangalore bench of Income Tax Appellate Tribunal (ITAT) recently ruled in the case of Urban Ladder Home Décor Solutions Pvt. Ltd. Vs ACIT that […]
Payments made by the Applicant to the Non-resident Company cannot be considered as royalty payments and hence, it does not give rise any income chargeable in India under the Indian IT Act. Held that there is no requirement to deduct TDS under Section 195 of the IT Act.
195:-TDS on Payment made to Non-Resident Clause -1 (1) Any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest (not being interest referred to in section 194LB or section 194LC) [or section 194LD] or any other sum chargeable under the provisions of this Act (not being […]
Investing in a house property is common for Indians. Many NRIs living abroad own house properties in India. Since it is difficult to manage a house property from another country, an NRI may contemplate selling such Indian house property. In such cases besides finding a buyer, it is also important to understand the tax implications […]
Autodesk Asia Pte. Ltd. Vs ACIT (ITAT Bangalore) It was the case of the assessee that the sale of software / hardware was made outside India and the proceeds received from Indian distributors / customers was received by the assessee outside India. In the draft Order of Assessment, the AO treated the money received by […]
Autodesk Asia Pte Limited Vs DCIT (ITAT Bengalore) The assessee is a Singapore based company, a subsidiary of Autodesk US and the headquarters for Asia-Pacific (APAC) region. It is engaged in the business of manufacturing, designing and supporting computer software and related Autodesk products in the APAC region. It performs or manages activities related to […]
