section 90

Claiming credit of taxes paid in foreign countries

Income Tax - Nowadays on account of the globalized environment and expansion of business outside India, a person may earn income from more than one country and sometimes the same income may be taxed twice, once in the source country and other in the resident country as well. Let us know these two methods for taxing income earned by a person in more de...

Read More

Relief under Section 90/91 of Income Tax Act, 1961

Income Tax - Relief Under section 90 if the country in which tax is paid has entered double taxation avoidance agreement with the Government of India. Relief Under section 91 if the country in which tax is paid has not entered into any agreement with the Government of India....

Read More

TDS on sale of Immovable Property by Non-resident

Income Tax - Recently I was asked a question by someone that at what rate TDS is to be deducted at the time of purchasing a property in India from a non-resident. The answer to the question lies in the simple reading of the Income Tax Act’1961. Let us examine the relevant Sections of the Income Tax Act’1961. […]...

Read More

How To Get Relief From Double Taxation?

Income Tax - In case , one earns income which suffers tax outside India, the Income Tax Act has clear provision of relief from such double taxation. The relevant provision are contained in section 90 and section 91 of the I T Act. Section 90 is applicable for the cases when the tax has been paid in a country with which India has signed comprehensive d...

Read More

Withdraw proposed amendments to Section 90 & 90A: ICAI

Income Tax - The Finance Bill 2017 proposes to amend sections 90 and 90A of the Act, to provide that where any 'term' used in an agreement entered into under sub-section (1) of Section 90 and 90A of the Act, is defined under the said agreement,...

Read More

Govt Identifies SAR of Hong Kong for Double Taxation Avoidance Agreement

Income Tax - The Central Government have notified the “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for the purpose of Explanation 2 to Section 90 of the Income Tax Act 1961 vide Notification No. 25 of 2010 (F.No.500/124/9-FTD-II). The notification enables the Central Government to enter...

Read More

Singapore Entity can carry forward short-term capital losses

Goldman Sachs India Investments (Singapore) PTE Limited Vs DCIT (ITAT Mumbai) - The provisions of the DTAA cannot be thrusted upon the Assessee simply because the Assessee is a tax resident of a country with which India has entered into a tax treaty or on account of the mere perception of the AO that the Assessee may claim benefits under the tax treaty in subsequent years. 2. S...

Read More

No addition for TP Adjustment towards interest on debentures invested in AE

Gurgaon Investment Ltd. Vs DDIT (ITAT Mumbai) - Gurgaon Investment Ltd. Vs DDIT (ITAT Mumbai) The issue under consideration is whether addition made on account of Transfer Pricing Adjustment towards interest on debentures invested in the Associated Enterprise (AE) Vital Construction Pvt. Ltd. (VCPL) is justified or not? Assessee, a non-resident c...

Read More

Section 206AA not override provisions of section 90(2)

DCIT Vs BEML Ltd. (ITAT Bangalore) - Section 206AA does not override provisions of section 90(2) and in case of payment made to non-resident, assessee correctly applied rate of tax prescribed under concerned DTAAs and not as per section 206AA because provisions of the DTAAs were more beneficial and DTAA acquired primacy in such case....

Read More

Section 206AA not overrides other provisions of Income Tax Act, 1961

Nagarjuna Fertilizers and Chemicals Limited Vs ACIT (ITAT Hyderabad) - Assessee cannot be held liable to deduct tax at higher of the rates prescribed in section 206AA in case of payments made to non-resident persons having taxable income in India in spite of their failure to furnish the Permanent Account Numbers....

Read More

Foreign taxes are deductible on real income theory & not deductible to the extent they are eligible for relief u/s 90 & 91

Reliance Infrastructure Ltd. Vs CIT (Bombay High Court) - This Court in Inder Singh Gill (supra) was required to answer the question whether for the purpose of computing total world income of the assessee as defined in Section 2(15) of the I. T. Act, the income accruing in Uganda has to be reduced by the tax paid to the Uganda Government in respect of such...

Read More

CBDT Draft Rules For Grant Of Foreign Tax Credit U/s. 90/ 90A/ 91

F.No. 142/24/2015-TPL - (18/04/2016) - The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure for grant of relief or deduction of income-tax paid in any country or specified territory outside India, under section 90/ 90A/ 91 of the Act against the income-tax payable...

Read More

Section 90 of the Income-tax Act, 1961 – Double Taxation Agreement – Agreement among the Governments of SAARC Member States for avoidance of double taxation and mutual administrative assistance in tax matters

Notification No. 3/2011 - Income Tax - (10/01/2011) - Notification No. 3/2011 - Income Tax WHEREAS the annexed Agreement among the Governments of SAARC (South Asian Association for Regional Cooperation) Member States comprising the People's Republic of Bangladesh, the Kingdom of Bhutan, the Republic of India, the Republic of Maldives, the Kingdom of N...

Read More

Notification No. 86/2010-Income Tax Dated 26/11/2010

Notification No. 86/2010-Income Tax - (26/11/2010) - Notification No. 86/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Government of the United Mexican States for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on ...

Read More

Section 90 of the Income-tax Act, 1961 – Double Taxation Agreement – Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Finland

Notification No. 36/2010-Income Tax - (20/05/2010) - Notification No. 36/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Government of the Republic of Finland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on th...

Read More

Notification No. 25/2010- Income Tax, dated 20-4-2010

Notification No. 25/2010-Income Tax - (20/04/2010) - Notification No. 25/2010-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for t...

Read More

Recent Posts in "section 90"

Singapore Entity can carry forward short-term capital losses

Goldman Sachs India Investments (Singapore) PTE Limited Vs DCIT (ITAT Mumbai)

The provisions of the DTAA cannot be thrusted upon the Assessee simply because the Assessee is a tax resident of a country with which India has entered into a tax treaty or on account of the mere perception of the AO that the Assessee may claim benefits under the tax treaty in subsequent years. 2. Short term losses should be eligible to b...

Read More

Claiming credit of taxes paid in foreign countries

Nowadays on account of the globalized environment and expansion of business outside India, a person may earn income from more than one country and sometimes the same income may be taxed twice, once in the source country and other in the resident country as well. Let us know these two methods for taxing income earned by a person in more de...

Read More
Posted Under: Income Tax |

Relief under Section 90/91 of Income Tax Act, 1961

Relief Under section 90 if the country in which tax is paid has entered double taxation avoidance agreement with the Government of India. Relief Under section 91 if the country in which tax is paid has not entered into any agreement with the Government of India....

Read More
Posted Under: Income Tax |

TDS on sale of Immovable Property by Non-resident

Recently I was asked a question by someone that at what rate TDS is to be deducted at the time of purchasing a property in India from a non-resident. The answer to the question lies in the simple reading of the Income Tax Act’1961. Let us examine the relevant Sections of the Income Tax Act’1961. […]...

Read More
Posted Under: Income Tax | ,

No addition for TP Adjustment towards interest on debentures invested in AE

Gurgaon Investment Ltd. Vs DDIT (ITAT Mumbai)

Gurgaon Investment Ltd. Vs DDIT (ITAT Mumbai) The issue under consideration is whether addition made on account of Transfer Pricing Adjustment towards interest on debentures invested in the Associated Enterprise (AE) Vital Construction Pvt. Ltd. (VCPL) is justified or not? Assessee, a non-resident company incorporated in Mauritius. Throug...

Read More

How To Get Relief From Double Taxation?

In case , one earns income which suffers tax outside India, the Income Tax Act has clear provision of relief from such double taxation. The relevant provision are contained in section 90 and section 91 of the I T Act. Section 90 is applicable for the cases when the tax has been paid in a country with which India has signed comprehensive d...

Read More
Posted Under: Income Tax |

Section 206AA not override provisions of section 90(2)

DCIT Vs BEML Ltd. (ITAT Bangalore)

Section 206AA does not override provisions of section 90(2) and in case of payment made to non-resident, assessee correctly applied rate of tax prescribed under concerned DTAAs and not as per section 206AA because provisions of the DTAAs were more beneficial and DTAA acquired primacy in such case....

Read More

Withdraw proposed amendments to Section 90 & 90A: ICAI

The Finance Bill 2017 proposes to amend sections 90 and 90A of the Act, to provide that where any 'term' used in an agreement entered into under sub-section (1) of Section 90 and 90A of the Act, is defined under the said agreement,...

Read More
Posted Under: Income Tax |

Section 206AA not overrides other provisions of Income Tax Act, 1961

Nagarjuna Fertilizers and Chemicals Limited Vs ACIT (ITAT Hyderabad)

Assessee cannot be held liable to deduct tax at higher of the rates prescribed in section 206AA in case of payments made to non-resident persons having taxable income in India in spite of their failure to furnish the Permanent Account Numbers....

Read More

Foreign taxes are deductible on real income theory & not deductible to the extent they are eligible for relief u/s 90 & 91

Reliance Infrastructure Ltd. Vs CIT (Bombay High Court)

This Court in Inder Singh Gill (supra) was required to answer the question whether for the purpose of computing total world income of the assessee as defined in Section 2(15) of the I. T. Act, the income accruing in Uganda has to be reduced by the tax paid to the Uganda Government in respect of such income? The Court while answering the q...

Read More

Browse All Categories

CA, CS, CMA (5,724)
Company Law (7,665)
Custom Duty (8,711)
DGFT (4,623)
Excise Duty (4,527)
Fema / RBI (4,815)
Finance (5,181)
Income Tax (38,412)
SEBI (4,132)
Service Tax (3,777)

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930