Income Tax : Learn about Form 15CA and 15CB: Crucial for foreign remittances and tax compliance. A complete guide for taxpayers....
Income Tax : Countrywise withholding tax rates as per the Income Tax Act compared to tax treaties/DTAA. Understand differences & implications f...
Income Tax : Withholding tax rates for dividends, interest, royalties and Fee for Technical Services in different countries. Understand how tax...
Income Tax : Karnataka HC held that no TDS liability would arise on year end provisions which were revered next year if they payees were not id...
Income Tax : Understand TDS provisions for buyers and sellers in the sale of property in India by an NRI. Get insights into tax rates, implicat...
Income Tax : 20% Withholding Tax Rate on profits distributed by unlisted companies to shareholders through buy-back of shares Existing provisio...
Income Tax : Ending year-long battle, UK-based Vodafone has agreed to pay USD 400 million more to its Indian partner Essar for buying its 33 pe...
Income Tax : The government will look into more cross-border mergers involving Indian assets, like the Vodafone-Hutchison deal, after the Bomba...
Income Tax : The Finance (No.2) Act of 2009 introduced section 206AA under the Income Tax Act, 1961 (the ITA) to provide that any person who is...
Income Tax : The cost of doing business in India could come down if the dividend distribution tax (DDT) levied on foreign shareholders is repla...
Income Tax : In a landmark ruling, Delhi High Court quashes TDS penal action against DLF Homes Panchkula Pvt Ltd for the FY 2013-14. Detailed v...
Income Tax : ITAT held that payment made to non-resident without deducting the tax at source u/s. 195 of the Act, does not come under the provi...
Income Tax : Assessee was not having any permanent establishment in India and was providing the service only from Singapore and therefore the p...
Income Tax : Withholding certificate at a low tax rate rejected for huge outstanding demand, although same were due to pending rectification ap...
Income Tax : Disputed demand has arisen for failure of Tata Teleservices to deduct tax at source on interest payments made to China Development...
Income Tax : CBDT vide notification No. 18/2021-Income Tax, Dated: March 16, 2021 inserted new rule 29BA. Application for grant of certificate ...
Income Tax : For the purpose of making disallowance of other sums chargeable under Section 40(a)(i) of the Income-tax Act, 1961, in the case of...
Income Tax : 37BC. Relaxation from deduction of tax at higher rate under section 206AA.– (1) In the case of a non-resident, not being a compa...
Income Tax : Notification No. 93/2015 - Income Tax G.S.R. 978(E) dated 16th December, 2015 A CA certificate in Form No. 15CB will be required t...
Convergys Customer Management Group Inc. Vs ADIT (ITAT Delhi) The assessee made payment for link charges to telecom service providers in the USA and cross-charged the portion of the cost incurred by it in connection with the India half link to CIS, which was accordingly reimbursed by CIS to assessee. The assessee has merely procured […]
Taxability of Reimbursement of expenses has always been a contentious issue. In most of the cases, assessee gets away with non-taxability of reimbursement of expenses on the plea of no profit element. However, in some cases, even without profit element, tax authorities and courts have held reimbursement of expenses as income of recipient liable for TDS and taxability in India.
International taxation in a simple language means the study of Taxation beyond the National Level. Though we all are very much aware about our Indian Taxation Laws but as time is demanding something more so, there is a need to study the taxation at another level.
Air France Vs Addl. CIT International Taxation (ITAT Delhi) The issue under consideration is whether Indian branch is deriving income from technical handling to IATP Pool Members and non IATP Members is taxable in India? ITAT states that, in the present case, it can be seen that the Indian Branch office is merely a branch […]
About Form 15 CA and Form 15 CB: The Income Tax Law of our country requires authentication of foreign remittances (payments) made to a Non Resident or Foreign Company, for any amount which is taxable as per the existing laws. For this purpose, certain rules and guidelines have been framed by the Income Tax Act for making foreign remittances.
The issue under consideration is whether the sale of shares by a Cyprus company to the assessee of an Indian company, who was holding a technology Park [immovable property] as only asset, is taxable in India in view of the Double Taxation Avoidance Agreement between India and Cyprus?
The issue under consideration is whether the amount paid to the employees under the non-compete agreement is covered by the expression ‘salary/profits in lieu of salary’ or not? and If not then whether the TDS will be applicable or not?
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.
In this article we have discussed the procedure for e-filing of form 15CA and Form 15CB by remitter and Chartered Accountant using their digital Signature on e-filing website of Income Tax Department i.e. http://incometaxindiaefiling.gov.in
In order to reduce compliance burden, it is proposed to amend the said section 206AA so as to provide that the provisions of this section shall also not apply to a non-resident, not being a company, or to a foreign company, in respect of any other payment, other than interest on bonds, subject to such conditions as may be prescribed.
