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In a decision that could have a bearing on all cross-border transactions, including those related to the Indian Premier League teams that are currently being probed by tax authorities, the Delhi High Court has ruled that any liability to withhold tax would arise only if payments to overseas entities is liable to be taxed in India.
The assessee, an Indian company remitted mobilization & demobilization charges of Rs. 8.65 crs by way of reimbursement to its parent company, a company based in Netherlands. The assessee applied to the AO u/s 195 (2) for a Nil withholding rate though the AO held that tax had to be deducted at 11%.
The Indian income-tax law requires any person who makes remittance to a non-resident to withhold appropriate tax which corresponds to the income-tax liability of the non-resident. Essentially, there are three modes available to the remitter to determine the Withholding Tax (WHT) liability. The remitter could approach the Authority for Advance Rulings (‘AAR’) for a ruling, or the Indian Revenue for a WHT order.
Cable & Wireless Networks India Private Limited („the applicant?) is engaged in the business of providing international and domestic long distance telecommunication services in India. It proposes to enter into an agreement with its group company, Cable and Wireless UK („C&W UK?) to provide end to end international long distance telecommunication services to its Indian customers.
Due to recent ruling of Karnataka High Court order, all overseas payments will now be subject to withholding tax, whether or not the income is taxable. Not only is this in dramatic contrast to previous High Court decisions, it’s also a judgment that will lead to higher cost of business, increased uncertainty and maybe even more litigation—at least for a while.
Citing the Supreme Court order in the Vodafone case, the Bombay High Court today dismissed the SABMiller writ petition against a showcause notice issued by the Income Tax Department. CNBC-TV18’s Ashwin Mohan reports on how this matter is similar to the Vodafone case? This case is similar to the Vodafone tax tussle. The Income Tax Department order on Vodafone is still pending.
In a recent ruling in the case of Punjab Financial Corporation (“the assessee”)1, the Punjab and Haryana High Court (“the Court”) held that credit for withholding tax (“WHT”) would be available in the same proportion in which the parties share the income under the provisions of section 1992 of the Income Tax Act, 1961 (the “Act”).
Since August last year, the world has been watching. It all began with a show cause notice issued to Vodafone BV (based in the Netherlands), holding it to be an “assessee in default” for not withholding tax at source when it made payments to a Hutchison Group company (based in Cayman Islands) for acquiring shares of another Cayman Island company.
