Withholding tax - Page 4

Effect of BEPS project on common tax structures used by MNEs in digital economy

The legal structures adopted by MNEs for tax planning purposes in the traditional businesses are often applied even in the digital businesses. These structures can essentially be broken down into four elements as elaborated in the February 2013 OECD Report on ‘Addressing Base Erosion and Profit Shifting’:...

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Posted Under: Income Tax |

TDS on legal service received from outside India

Legal fees is deemed to accrue or arise in India, whether or not non-resident has place of business in india or has rendered services in India. ...

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Posted Under: Income Tax |

Additional Income-tax on distributed income by company for buy-back of unlisted shares

20% Withholding Tax Rate on profits distributed by unlisted companies to shareholders through buy-back of shares Existing provisions of Section 2(22)(e) provide the definition of dividends for the purposes of the Income-tax Act. Section 115- O provides for levy of Dividend Distribution Tax(DDT) on the company at the time when company dist...

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Posted Under: Income Tax | ,

Role of Chartered Accountant in Your Growth

What a chartered accountant does exactly is something unknown, which is of course if you’re not an accountant yourself. For many people, an accountant is something that they feel they only need once a year when they are doing their taxes returns. But business and CA are more than just taxes. If you are only using your CA for your tax re...

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Posted Under: Income Tax |

Vodafone pays over USD 400 mn more to buy Essar's 33 per cent stake

Ending year-long battle, UK-based Vodafone has agreed to pay USD 400 million more to its Indian partner Essar for buying its 33 percent stake in the joint venture Vodafone-Essar. With this, Essar closed the deal to sell its 33 percent stake at USD 5.46 billion as against USD 5 billion decided earlier. ...

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Posted Under: Income Tax |

Withholding tax need not to be deducted on payments made for services like transcription and data processing –AAR

R.R. Donnelley India Outsource Private Limited (AAR Delhi)

Indian firms outsourcing routine work to their overseas subsidiaries would not have to deduct withholding tax on the payments made to them. In a landmark ruling, the Authority of Advance Ruling (AAR) ( A.A.R. No.883 of 2010 dated 16.05.2010 - Applicant R.R. Donnelley India Outsource Private Limited) held that firms are exempted from dedu...

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Authorised Dealer not liable to deduct tax on remittance to non-resident of sale proceeds representing short term capita

DDIT Vs. The Hongkong and Shanghai Banking Corporation Limited (ITAT Mumbai)

The decision is relevant to authorised dealers making remittance to non-residents. Though the decision is rendered in the context of remittance to individual’s resident in the UAE, all non-resident Indians can benefit from the principle laid down in ...

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Withholding tax not required on payment to non-resident agents of artists in absence of a permanent establishment

In a recent ruling, the Mumbai Income-tax Appellate Tribunal (the Tribunal), in the case of Wizcraft International Entertainment Pvt. Ltd. (the assessee) held that commission paid by an entertainment event management firm in India to a UK based ...

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Posted Under: Income Tax |

Roaming charges paid by telecom service providers not in nature of ‘rent’ which attracts withholding tax

On the issue of whether such payments are, alternatively, in the nature of fees for technical services (FTS), liable to tax withholding under any other provision of the ITL, the Mumbai ITAT restored the matter to the Tax Authority for fresh adjudication in the light of the Supreme Court's (SC) directions in the case of Bharti Cellular Ltd...

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Posted Under: Income Tax |

Section 195- Deductibility of Tax on disputed Payment

the assessee-company had made various payments to its holding company M/s. Alstom Holdings, France but no deductions of tax at source were made. - there is justification for the assessee’s conviction at the time of payment that no tax was deductible at source. It was neither a composite payment....

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Posted Under: Income Tax |

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