section 90

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,...

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Budget 2017: Interpretation of ‘terms’ used in agreement entered U/s. 90 and 90A

Income Tax - Under the existing provisions of Section 90 of the Act, power has been conferred upon the Central Government to enter into agreement with the Government of any country outside India for granting relief in respect of income on which income-tax has been paid both under the said Act and income-tax Act in that foreign country...

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CBDT can notify rules for giving foreign tax credit

Income Tax - Enabling the Board to notify rules for giving foreign tax credit Sub-section (1) of section 91 of the Income-tax Act provides for relief in respect of income-tax on the income which is taxed in India as well as in the country with which there is no Double Taxation Avoidance Agreement (DTAA). It provides that an […]...

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TDS on sale of Immovable Property by Non-resident

Income Tax - CA Pratik Anand 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 […]...

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Tax Residence Certificate must for claiming relief under DTAA and for issue of Form 15CB

Income Tax - Section 90 of the Income Tax Act empowers the Central Government to enter into an agreement with the Government of any foreign country or specified territory outside India for the purpose of –(i) granting relief in respect of avoidance of double taxation, (ii) exchange of information and (iii) recovery of taxes. ...

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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...

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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....

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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...

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Whether provisions of Section 206AA overrides provisions of Section 90(2) of Income-tax Act, 1961

Dy. Director of Income-tax Vs Serum Institute of India Limited (ITAT Pune) - The assessee had made payments to non-residents on account of interest, royalties and fees for technical services and the same were subject to withholding under Section 195 of the Act. The assessee in accordance with provisions of Section 90(2) deducted tax on such payments as per the beneficial rat...

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Tribunal can allow credit u/s. 90 which was inadvertently mentioned as ‘Advance tax’

Tecnimont ICB Ltd. Vs Deputy Commissioner of Income-tax (ITAT Mumbai) - It is observed that the claim of the assessee about wrong classification of double taxation credit was rejected by the AO because the assessee did not file a revised return. This view was canvassed by the AO on the basis of the afore-referred judgment in the case of Goetze India Ltd. (supra) However...

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Assessee entitled to relief U/s. 91 in respect of tax paid in Bhutan on income earned in Bhutan

Hindustan Construction Co Ltd Vs The Dy Commr of Income Tax (ITAT Mumbai) - The Assessing Officer has computed the income from Bhutan operations at Rs. 68,63,57,400/- and included the same in the total income of the assessee, then the relief u/s 91 of the I T Act is allowable @ 8.53% on the said income, which is subjected to tax in both the countries. Accordingly, we direc...

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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...

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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...

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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 ...

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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...

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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...

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Recent Posts in "section 90"

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

Budget 2017: Interpretation of ‘terms’ used in agreement entered U/s. 90 and 90A

Under the existing provisions of Section 90 of the Act, power has been conferred upon the Central Government to enter into agreement with the Government of any country outside India for granting relief in respect of income on which income-tax has been paid both under the said Act and income-tax Act in that foreign country...

Read More
Posted Under: Income Tax |

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 under the Act....

Read More

Whether provisions of Section 206AA overrides provisions of Section 90(2) of Income-tax Act, 1961

Dy. Director of Income-tax Vs Serum Institute of India Limited (ITAT Pune)

The assessee had made payments to non-residents on account of interest, royalties and fees for technical services and the same were subject to withholding under Section 195 of the Act. The assessee in accordance with provisions of Section 90(2) deducted tax on such payments as per the beneficial rates prescribed in the DTAA with respectiv...

Read More

CBDT can notify rules for giving foreign tax credit

Enabling the Board to notify rules for giving foreign tax credit Sub-section (1) of section 91 of the Income-tax Act provides for relief in respect of income-tax on the income which is taxed in India as well as in the country with which there is no Double Taxation Avoidance Agreement (DTAA). It provides that an […]...

Read More
Posted Under: Income Tax |

TDS on sale of Immovable Property by Non-resident

CA Pratik Anand 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 […]...

Read More
Posted Under: Income Tax | ,

Tribunal can allow credit u/s. 90 which was inadvertently mentioned as ‘Advance tax’

Tecnimont ICB Ltd. Vs Deputy Commissioner of Income-tax (ITAT Mumbai)

It is observed that the claim of the assessee about wrong classification of double taxation credit was rejected by the AO because the assessee did not file a revised return. This view was canvassed by the AO on the basis of the afore-referred judgment in the case of Goetze India Ltd. (supra) However, it is pertinent to note that para -4 o...

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Assessee entitled to relief U/s. 91 in respect of tax paid in Bhutan on income earned in Bhutan

Hindustan Construction Co Ltd Vs The Dy Commr of Income Tax (ITAT Mumbai)

The Assessing Officer has computed the income from Bhutan operations at Rs. 68,63,57,400/- and included the same in the total income of the assessee, then the relief u/s 91 of the I T Act is allowable @ 8.53% on the said income, which is subjected to tax in both the countries. Accordingly, we direct the Assessing Officer to give relief u...

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