Income Tax : Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, incl...
Income Tax : The AIS is a comprehensive statement providing all tax and financial transaction details, including TDS, SFT, and external data, t...
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 : The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claim...
Income Tax : The ITAT Kolkata held that delayed filing of Form No. 67 is only a procedural defect and cannot deprive an assessee of Foreign Tax...
Income Tax : The ITAT Kolkata held that delayed filing of Form No. 67 cannot deprive an assessee of Foreign Tax Credit under Section 90 and the...
Income Tax : ITAT Hyderabad held that CPC cannot make adjustments under Section 143(1)(a) without issuing prior intimation to the assessee as m...
Income Tax : The Delhi ITAT held that belated filing of Form No. 67 is only a procedural lapse and cannot extinguish substantive Foreign Tax Cr...
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 determination of Arm’s Length Price (ALP) of intra group services at Rs. Nil is not justified as the assessee has maintained a reasonably sound documentation of intra group services.
ITAT Bangalore held that delay in filing the return and Form No.67, beyond period under section 139(1) of the Act, is not fatal to the claim of FTC. Foreign Tax Credit duly available in respect of income taxable in India and received outside India for the amount of taxes paid outside India.
Explore landmark ruling in Citibank N.A Vs S.K. Ojha case by Bombay High Court, confirming that post-Kar Vivad Samadhan Scheme determination, the Assessing Officer lacks jurisdiction to reopen tax assessments under Section 143 of Income Tax Act. Unearth key insights from this case setting a precedent for businesses under KVSS.
ITAT Delhi held that in absence of a Permanent Establishment, provisions of section 44BB of the Income Tax Act has no application.
Delhi High Court held that penalty u/s 112(a) of the Customs Act on overseas supplier duly imposable as alleged offences have been committed within the territory of India.
ITAT Jaipur held that denial of Foreign Tax Credit merely because Form 67 was filed after the due date of filing the return under section 139(1) of the Income Tax Act is unjustified and untenable in law.
ITAT Mumbai held that assessment order passed u/s 143(3) beyond time limit prescribed under section 153 of the Income Tax Act is time barred and bad in law.
ITAT Mumbai held that foreign tax credit duly available even if form no. 67 is filed along with the revised return as the form is filed before the completion of the assessment.
Form 10F is an Income Tax form which reduces Non-resident Tax payer’s TDS rate in India. Learn what details are needed to file Form 10F & how to obtain Tax Residency Certificate.
ITAT held that Rule 128(9) of the Rules does not provide for disallowance of Foreign Tax Credit (FTC) in case of delay in filing Form No. 67; (ii) filing of Form No. 67 is not mandatory but a directory requirement and (iii) DTAA overrides the provisions of the Act and the Rules cannot be contrary to the Act.
