TRC

TDS on legal service received from outside India

Income Tax - Pawan Sehrawat (CA, CS) Under Income tax as per explanation 2 to section 9(1)(vii), legal service is considered as fee for technical service. Explanation 2 u/s 9(1)(vii) says “fees for technical services” means any consideration (including any lump sum consideration) for the rendering of any managerial, technical or consultanc...

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Whether TRC is required in case of import of Machines?

Income Tax - In case if the profits on import of machine arise in India and chargeable to tax in India then as per Section 195 tax is required to be deducted at source in India. ...

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Tax Residency Certificate (TRC) – In its new version

Income Tax - Provisions of requirement of Tax Residency Certificate were introduced last year. The Finance Minister has attempted to make changes to the existing provisions. The author analyses the changes that are proposed and the possible effects. ...

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Amendments to Finance Bill, 2013 as passed by Lok Sabha

Income Tax - Interest payable to Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs) on rupee denominated corporate bonds or government securities The proposal made in the Finance Bill 2013, to provide that the concessional rate of TDS on payment of interest will be available where a non-resident or a foreign company has depo...

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Requirement of TRC to contain prescribed particulars to be dispensed with

Income Tax - Sub-section (4) of 90 and 90A provides that treaty benefit will not be available to any Non Resident unless he furnishes TRC from the Government of his country of residence containing such particulars as may be prescribed. The Finance Bill, 2013 had proposed to insert sub-section (5) in sections 90 and 90A to provide that […]...

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Additional info to be furnished by Non Resident with TRC to claim treaty benefits

Notification No. 57/2013 - Income Tax - (01/08/2013) - Notification No. 57/2013 - Income Tax (1) These rules may be called the Income-tax (11th Amendment) Rules, 2013. (2) They shall be deemed to have come into force with effect from the 1st day of April, 2013. 2. In the Income-tax Rules, 1962,- (a) in rule 21AB, for sub-rules (1) and (2), the follo...

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Recent Posts in "TRC"

TDS on legal service received from outside India

Pawan Sehrawat (CA, CS) Under Income tax as per explanation 2 to section 9(1)(vii), legal service is considered as fee for technical service. Explanation 2 u/s 9(1)(vii) says “fees for technical services” means any consideration (including any lump sum consideration) for the rendering of any managerial, technical or consultanc...

Read More
Posted Under: Income Tax |

Whether TRC is required in case of import of Machines?

In case if the profits on import of machine arise in India and chargeable to tax in India then as per Section 195 tax is required to be deducted at source in India. ...

Read More
Posted Under: Income Tax |

Additional info to be furnished by Non Resident with TRC to claim treaty benefits

Notification No. 57/2013 - Income Tax (01/08/2013)

Notification No. 57/2013 - Income Tax (1) These rules may be called the Income-tax (11th Amendment) Rules, 2013. (2) They shall be deemed to have come into force with effect from the 1st day of April, 2013. 2. In the Income-tax Rules, 1962,- (a) in rule 21AB, for sub-rules (1) and (2), the following sub-rules shall be substituted name...

Read More

Tax Residency Certificate (TRC) – In its new version

Provisions of requirement of Tax Residency Certificate were introduced last year. The Finance Minister has attempted to make changes to the existing provisions. The author analyses the changes that are proposed and the possible effects. ...

Read More
Posted Under: Income Tax |

Amendments to Finance Bill, 2013 as passed by Lok Sabha

Interest payable to Foreign Institutional Investors (FIIs) and Qualified Foreign Investors (QFIs) on rupee denominated corporate bonds or government securities The proposal made in the Finance Bill 2013, to provide that the concessional rate of TDS on payment of interest will be available where a non-resident or a foreign company has depo...

Read More
Posted Under: Income Tax |

Requirement of TRC to contain prescribed particulars to be dispensed with

Sub-section (4) of 90 and 90A provides that treaty benefit will not be available to any Non Resident unless he furnishes TRC from the Government of his country of residence containing such particulars as may be prescribed. The Finance Bill, 2013 had proposed to insert sub-section (5) in sections 90 and 90A to provide that […]...

Read More
Posted Under: Income Tax |

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