Tax Treaty

Tax Residency Certificate (TRC) for Indian & Non Resident wef 01.04.2013

Income Tax - From 01.4.2013 the India Residents who earns Income from Countries with which India have a DTAA can obtain a Tax Residency Certificate from Income Tax Department. The same may be submitted to the Payer to claim DTAA Benefit. ...

Read More

Double Tax Avoidance Agreements & Taxation

Income Tax - The Double Tax Avoidance Agreement (DTAA) is essentially a bilateral agreement entered into between two countries. The basic objective is to promote and foster economic trade and investment between two Countries by avoiding double taxation....

Read More

Foreign company having Permanent Establishment in India cannot be taxed at the rate applicable to domestic company

Income Tax - Mumbai bench of the Income-tax Appellate Tribunal (the Tribunal) in the case of JCIT v. State Bank of Mauritius Ltd. (2009-TIOL-712-ITAT-MUM) has held that the foreign company having Permanent Establishment (PE) in India cannot be taxed at the rate applicable to domestic company in view of insertion of Explanation 1 to section 90 of the I...

Read More

Tribunals upheld the concept of ‘make available’ and held specified services not Fees for technical services

Income Tax - Tribunals upheld the concept of ‘make available’ and held specified services not Fees for technical services Mumbai and Bangalore bench of Tribunal upheld the concept of ‘make available’ in two different cases and held that the specified services were not in the nature of Fees for included/technical services....

Read More

Salaries paid by foreign company to its expatriates working in Indian branch office held to be allowable

Income Tax - A T Kearney Ltd., UK ('assessee'), a company engaged in the business of providing management consulting services, carried on its business operations in India through its branch office . The assessee deputed highly experienced personnel to train and develop the local expertise to provide services ...

Read More

Revise tax treaties to enable CBI and ED to use data for prosecution

Income Tax - Government is contemplating to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money abroad. ...

Read More

CBDT resolves disputes to the tune of Rs 5000 crore

Income Tax - Since 1st April, 2014 till date, the Central Board of Direct Taxes has resolved 180 cases under MAP. The total amount of income locked up in dispute in these cases is approximately Rs. 5,000 crore. The resolved cases pertain to various sectors of the economy like software services, IT enabled services, manufacturing, consultancy services,...

Read More

Income tax policy would gradually move towards treaty override

Income Tax - The Union Revenue Secretary, Mr Sunil Mitra, said here on Tuesday that domestic tax policy would gradually move towards treaty override and introduce measures against aggressive tax planning and tax avoidance. Addressing a FICCI function here, Mr Mitra sought greater responsibility from corporate sector including foreign companies on the ...

Read More

Open Account outside India through Agent may invite trouble

Income Tax - Seeking the help of a friendly official or agent of a foreign bank to open a bank account overseas may not be a good idea as tax sleuths have their eyes on them and could soon be knocking at your doors.Income tax sleuths are keeping a close watch on ...

Read More

India, Switzerland agreed to widening the ambit of tax treaty

Income Tax - The government has concluded the renegotiation for widening the ambit of its tax treaty with Switzerland to access information on swissbank accounts, a big step towards tracing Indian money stashed away overseas. The tax treaty has been amended on the lines of the OECD Model Tax Convention, which means it will not provide for roving enqu...

Read More

Unilateral amendment in DTAA is prohibited: Delhi HC

DIT Vs New Skies Satellite BV. (Delhi High Court) - Delhi High Court held In the case of DIT vs. New Skies Satellite BV that the Vienna Convention on the Law of Treaties, 1969 (VCLT) is universally accepted as authoritatively laying down the principles governing the law of treaties....

Read More

Discounting charges on bills of exchange are not interest

DCIT Vs. Cargill Global Trading (I) (P) Limited (Delhi High Court) - Delhi High Court in the case of DCIT v. Cargill Global Trading (I) (P) Limited on the issue of whether discounting charges paid to a non-resident on discounting of bills of exchange (BEs) can be characterized as 'interest', liable for withholding held that the discounting charges are not in the natu...

Read More

Payment to US companies for ‘developing tooling’ and ‘validating new process for manufacture’ of wheels is taxable as fees for included services

Wheels India Ltd. Vs. ACIT (ITAT Chennai) - Recently, the Chennai bench of the Income-tax Appellate Tribunal in the case of Wheels India Ltd. v. ACIT I.T.A No. 1793/Mds/2006 (Chennai) held that payment made to US companies for ‘developing tooling' and 'validating new process for manufacture' of wheels for commercial vehicle was ‘fees for...

Read More

Applicability of Limitation on deduction of expenses u/s. 44D on consideration other then Fees for Technical Services

Rolls Royce Industrial Power Ltd. Vs. ACIT (ITAT Delhi) - Limitation on deduction of expenses under Section 44D of the Act cannot be invoked if the consideration received by the foreign company is not Fees for Technical Services as defined in India-USA tax treaty ...

Read More

Mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in the taxpayer having a PE as per the India-Neth

DDIT Vs. Nederlandsche Overzee Baggermaatschappiji B.V. (ITAT Mumbai) - Recently, the Mumbai bench of the Income-tax Appellate Tribunal (the Tribunal) in the held that mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in the taxpayer having a Permanent Establishment (PE) as per the India-Netherlands tax treaty (tax trea...

Read More
Sorry No Post Found

Recent Posts in "Tax Treaty"

Revise tax treaties to enable CBI and ED to use data for prosecution

Government is contemplating to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money abroad. ...

Read More
Posted Under: Income Tax |

Unilateral amendment in DTAA is prohibited: Delhi HC

DIT Vs New Skies Satellite BV. (Delhi High Court)

Delhi High Court held In the case of DIT vs. New Skies Satellite BV that the Vienna Convention on the Law of Treaties, 1969 (VCLT) is universally accepted as authoritatively laying down the principles governing the law of treaties....

Read More

CBDT resolves disputes to the tune of Rs 5000 crore

Since 1st April, 2014 till date, the Central Board of Direct Taxes has resolved 180 cases under MAP. The total amount of income locked up in dispute in these cases is approximately Rs. 5,000 crore. The resolved cases pertain to various sectors of the economy like software services, IT enabled services, manufacturing, consultancy services,...

Read More
Posted Under: Income Tax |

Tax Residency Certificate (TRC) for Indian & Non Resident wef 01.04.2013

From 01.4.2013 the India Residents who earns Income from Countries with which India have a DTAA can obtain a Tax Residency Certificate from Income Tax Department. The same may be submitted to the Payer to claim DTAA Benefit. ...

Read More
Posted Under: Income Tax | ,

Double Tax Avoidance Agreements & Taxation

The Double Tax Avoidance Agreement (DTAA) is essentially a bilateral agreement entered into between two countries. The basic objective is to promote and foster economic trade and investment between two Countries by avoiding double taxation....

Read More
Posted Under: Income Tax | ,

Discounting charges on bills of exchange are not interest

DCIT Vs. Cargill Global Trading (I) (P) Limited (Delhi High Court)

Delhi High Court in the case of DCIT v. Cargill Global Trading (I) (P) Limited on the issue of whether discounting charges paid to a non-resident on discounting of bills of exchange (BEs) can be characterized as 'interest', liable for withholding held that the discounting charges are not in the nature of 'interest' since they are not paya...

Read More

Payment to US companies for ‘developing tooling’ and ‘validating new process for manufacture’ of wheels is taxable as fees for included services

Wheels India Ltd. Vs. ACIT (ITAT Chennai)

Recently, the Chennai bench of the Income-tax Appellate Tribunal in the case of Wheels India Ltd. v. ACIT I.T.A No. 1793/Mds/2006 (Chennai) held that payment made to US companies for ‘developing tooling' and 'validating new process for manufacture' of wheels for commercial vehicle was ‘fees for included services’ as per Article 122...

Read More

Applicability of Limitation on deduction of expenses u/s. 44D on consideration other then Fees for Technical Services

Rolls Royce Industrial Power Ltd. Vs. ACIT (ITAT Delhi)

Limitation on deduction of expenses under Section 44D of the Act cannot be invoked if the consideration received by the foreign company is not Fees for Technical Services as defined in India-USA tax treaty ...

Read More

Income tax policy would gradually move towards treaty override

The Union Revenue Secretary, Mr Sunil Mitra, said here on Tuesday that domestic tax policy would gradually move towards treaty override and introduce measures against aggressive tax planning and tax avoidance. Addressing a FICCI function here, Mr Mitra sought greater responsibility from corporate sector including foreign companies on the ...

Read More
Posted Under: Income Tax |

Mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in the taxpayer having a PE as per the India-Neth

DDIT Vs. Nederlandsche Overzee Baggermaatschappiji B.V. (ITAT Mumbai)

Recently, the Mumbai bench of the Income-tax Appellate Tribunal (the Tribunal) in the held that mere provision of a dredger on dry lease for carrying out dredging activity in India does not result in the taxpayer having a Permanent Establishment (PE) as per the India-Netherlands tax treaty (tax treaty). Further, the Tribunal relied on ...

Read More
Page 1 of 612345...Last »

Browse All Categories

CA, CS, CMA (3,533)
Company Law (3,482)
Custom Duty (6,692)
DGFT (3,522)
Excise Duty (4,055)
Fema / RBI (3,301)
Finance (3,516)
Income Tax (25,480)
SEBI (2,763)
Service Tax (3,289)

Search Posts by Date

December 2017
M T W T F S S
« Nov    
 123
45678910
11121314151617
18192021222324
25262728293031