Income Tax : From October 1, 2024, certain Indians must obtain a tax clearance certificate before traveling abroad to ensure all tax obligation...
Income Tax : Article explains about Form 10F, its importance, requirements, and step-by-step process to obtain and file it online for tax relie...
Income Tax : Under law, identity or recognition of a person is established by relevant documents mentioned under those laws. For example passpo...
Income Tax : Residents are taxed on worldwide income and non-residents are taxed only on income sourced in India. Companies are treated as resi...
Income Tax : A new sub-section (4) to section 90 has been inserted by the Finance Act, 2012 w.e.f. 01.04.2013 wherein a non-resident assessee w...
Income Tax : Explore challenges in TRC applications under DTAA by Indian companies. KSCAA proposes reforms for a simpler, efficient process. Le...
Income Tax : Assessee-company was engaged in the business of trading of electromechanical relays, wire and wireless equipment, high performance...
Income Tax : ITAT Delhi held that that the departmental authorities cannot question the validity of Tax Residency Certificate. Once the assesse...
Income Tax : In present facts of the case, the Hon’ble High Court have upheld the Judgment of ITAT wherein it was observed that the tax resid...
Income Tax : Concern has been expressed regarding the clause in the Finance Bill that amends Section 90 of the Income-tax Act that deals with D...
There is a peculiar history regarding the amendments of section 90 of the Income-Tax Act, 1961 (the Act), by the Finance Act, 2012 and the Finance Act, 2013, in respect of the requirement of Tax Residency Certificate (TRC) to be obtained by an assessee, in order to avail of the benefit of Double Taxation Avoidance Agreement (DTAA) between India and the country of his residence.
The Finance Minister of India presented his last Union Budget 2013 (The Budget)amidst rough financial environment. The Budget proposals comein light of the current challenging economic scenario.It is clear that Indian economy is not insulated from the global slowdown. The Indian downtrend has forced the Finance Minister to recommend slew of fiscal/monetary measures to revive the economy.
Concern has been expressed regarding the clause in the Finance Bill that amends Section 90 of the Income-tax Act that deals with Double Taxation Avoidance Agreements. Sub-section (4) of section 90 was introduced last year by Finance Act, 2012.
