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...
As an NRI, if you are selling a property located in India, you would have faced an assertion from the buyer that they shall deduct from your sale proceeds, a tax equal to 20% + surcharge + education cess of the entire sales consideration.
HC held that, pay roll related services outsourced to foreign company would be treated as business income earned by foreign company and not a technical service therefore, would not be liable for TDS
Purchase of online advertisement space for onward resale to Indian advertisers did not amount to Royalty as unless the non-resident, who was engaged in sale of online advertisement space, had a PE in India, no portion of receipts earned by it from sale of online advertisement space in India could be brought to tax in India as Act read with the relevant DTAA. Thus, assessee was not in default u/s 201, for not deducting the tax at source, on the payment in question, under the section 195.
WTS Energy Dmcc Vs DCIT (Delhi High Court) Double Tax Avoidance Agreement obtaining between India and UAE does not contain any article concerning FTS. The petitioner, who is a non-resident and does not have a PE in India, claims that the subject income is “business income.” It is because of these varying stands, that a […]
DCIT Vs Allsec Technologies Ltd (ITAT Chennai) ITAT held that the assessee cannot be expected to deduct TDS on payment made to non-residents on the basis of subsequent amendment to the law with retrospective effect from earlier date, because the assessee cannot foresee the amendment and deduct TDS and hence, we are of the considered […]
ITAT held that payment made to non-resident without deducting the tax at source u/s. 195 of the Act, does not come under the provisions of section 9(1)(vii) of the Act and consequently, assessee need not to deduct TDS u/s. 195 of the Act and thus, question of disallowance of said payment u/s. 40(a)(i) of the Act does not arise.
ITAT held that payment of Fees for training to Employees on soft skill & general topics cannot be treated as Fees for Technical Services (FTS)
As per the provision contained in Income Tax Act, a resident payer is required to deduct TDS on sum paid to Non Resident payee, if income is chargeable to tax in India. Section 195 of Income Tax provides that payer is required to deduct TDS as per rates in force.
ITAT Mumbai held that payment towards buy-back of shares to an NRI doesn’t attract deduction of tax under section 195 as according to Indo-Singapore DTAA jurisdiction for taxing the capital gains arising in the hands of an NRI is in Singapore and not in India
Direct & Indirect Taxes : Monthly Updates Date & Time – 3rd December 2022 (Time:11 a.m to 12:30 p.m) Tax Guru is Organizing a 1 and Half Hour Workshop for discussions on ‘Direct & Indirect Taxes : Monthly Updates’ on the following topics- GST – 1. Replying to notices for ITC denial for- A. Mismatch […]