Income Tax : The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer I...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Company Law : Understand Sections 89 and 90 of the Companies Act, 2013, focusing on legal ownership declarations and significant beneficial owne...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...
Income Tax : The Central Government have notified the “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘s...
Income Tax : ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance...
Income Tax : ITAT held that delayed filing of Form 67 is a procedural lapse and directed the AO to grant foreign tax credit claimed under Secti...
Income Tax : ITAT held that foreign tax credit cannot be denied solely because Form No. 67 was filed after the return, subject to verification ...
Income Tax : The ITAT held that foreign exchange gains arising from realization of export proceeds from services rendered to associated enterpr...
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 Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure fo...
Income Tax : Notification No. 3/2011 - Income Tax WHEREAS the annexed Agreement among the Governments of SAARC (South Asian Association for Re...
Income Tax : Notification No. 86/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Gov...
Income Tax : Notification No. 36/2010-Income Tax Whereas, an Agreement and the Protocol between the Government of Republic of India and the Gov...
Income Tax : Notification No. 25/2010-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961...
ITAT Mumbai held that as Form No. 67 has been filed by the Appellant before the processing the return of income under Section 143(1) of the Income Tax Act, foreign tax credit is duly eligible.
Analysis of ITAT Kolkata’s ruling in Mahua Bagchi Vs ACIT. Emphasizes that Foreign Tax Credit can’t be denied for late filing of Form 67 under Sec 139(1).
In Pawan Kumar Agarwal vs CIT case, ITAT Kolkata rules that concessional tax rate under section 115E is not applicable when money is deposited in Indian rupees, not foreign exchange.
ITAT Delhi held that receipts from disaster recovery playout services and disaster recovery up-linking services are not in the nature of Fee for Technical Service (FTS) as envisaged under Article 12(4)(a) of India-Singapore DTAA.
Bombay High Court held that the amount of tax refunded to the Petitioner, including interest, is to be reduced while determining the amount of disputed tax under KVSS as the Petitioner had not disclosed and calculated tax properly.
ITAT Delhi held that supplemental rent/maintenance reserve would be exempt from tax in the hands of lesser in India as per Section 10(15A) of the Act and hence, no disallowance u/s 40(a)(ia) for non-deduction of TDS. Hence, TDS not deductible on such amount paid to foreign company for acquiring aircraft on lease.
Explore the critical decision in Souvik Mukherjee Vs ITO (ITAT Delhi) regarding taxation of a bonus received abroad, and how it impacts Foreign Tax Credit regulations.
Bombay High Court held that since the Assessee does not have a Permanent Establishment in India, income earned by it as business profit would not be taxable in India by virtue of the provisions of Article 7 of the India-Malaysia DTAA.
In present facts of the case, the Hon’ble Tribunal held that expenses made pertaining to Club Membership fees shall be allowed as business expenditure.
ITAT Bangalore held that pre-clinical laboratory services rendered by the assessee (non-resident) to its customers in India would not be chargeable to tax in India as the technical services rendered by the affiliates do not “make available” technical knowledge, experience, skill, know-how or process while preparing these reports for their, Indian customers/ clients.
