Withholding tax - Page 5

Foreign artistes are chargeable to tax in India but their agents are not in the absence of PE- ITAT Mumbai

The Asst. Director of Income Tax Vs. M/s. Wiz craft International Entertainment Pvt. Ltd. (ITAT Mumbai)

Commission paid to agents for services rendered outside India is not chargeable to tax in India and there is no obligation to deduct tax u/s 195. As Agent was not a performer, his income was not covered under Article 18 of the DTAA but was covered by Article 7 and as the services were rendered outside India and there was no PE, the same w...

Read More
Posted Under: Income Tax |

Interest on refund has to be granted when withholding tax is paid pursuant to the AO’s order under section 195(2)

ADIT Vs. Reliance Info comm Ltd. (ITAT Mumbai0

ADIT v. Reliance Infocomm Ltd. - It is held that the assessee would be entitled to interest on the refund under the provisions of clause (b) of section 244A(1) of the Income-tax Act, 1961 if the refund became due under an order passed in any appeal or any other proceeding, as referred to in section 240 of the Act....

Read More

Payments to non-residents would be subject to withholding tax only if the income is chargeable to tax- SC

GE India Technology Centre Private Ltd. Vs Commissioner of Income Tax & Anr. (Supreme Court of India)

Appellant(s) are the distributors of imported prepackaged shrink wrapped standardized software from Microsoft and other Suppliers outside India. During the relevant assessment year(s) appellant(s) made payments to the said software Suppliers which according to the appellant(s) represented the purchase price of the abovementioned software....

Read More

DTC- 2010- Major amendments related to assessment, appeal, penalty and withholding tax

Direct Tax Code (DTC) 2010 consolidates the withholding tax provisions as well as the procedural law dealing with reporting of income (including branch profits), net wealth and dividends distributed. To ensure compliance with the reporting requirements under DTC 2010, certain amendments have been proposed to the penal provisions, as also ...

Read More
Posted Under: Income Tax |

After Vodafone verdict IT department will investigate more cross-border mergers involving Indian assets

The government will look into more cross-border mergers involving Indian assets, like the Vodafone-Hutchison deal, after the Bombay High Court on Wednesday rejected UK-based Vodafone's petition against the imposition of tax by authorities here....

Read More
Posted Under: Income Tax |

Withholding tax deductible only if non-resident’s income chargeable to tax in India

The Supreme Court on Thursday rejected the income-tax department’s contention that companies based in India were liable to deduct tax when they make any payment overseas, offering relief to domestic firms and multinational companies based here that w...

Read More
Posted Under: Income Tax |

Reminder : Person receiving income subject to withholding tax is required to obtain Permanent Account Number (PAN)

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 entitled to receive any sum or income or amount, on which tax is to be withheld under the ITA shall furnish PAN to the person responsible for withholding of tax. In case PAN is not furnished, minimum withholdi...

Read More
Posted Under: Income Tax |

Fee for technical services may be taxable in India even if completely rendered outside India

Ashapura Minichem Ltd. Vs Assistant Director of Income Tax (ITAT Mumbai)

The decision of tribunal reaffirms the position that after amendment to section 9 of the Act, what is required is that, the services should be utilized in India in order to be taxable in India irrespective of the situs of rendering of the services....

Read More

Replacement of dividend distribution tax with withholding tax to boost business

The cost of doing business in India could come down if the dividend distribution tax (DDT) levied on foreign shareholders is replaced with a withholding tax as under the current system, apex chamber Ficci has said. According to the chamber, foreign shareholders are unable to claim credit in the home country for DDT paid in India, resultin...

Read More
Posted Under: Income Tax |

I-T department asks Sanofi Aventis to Pay 650 Crore withholding Tax over its Acquisition of Shantha Biotech last year

Close on the heels of Vodafone-Essar contesting a tax case in the Bombay High Court, tax sleuths have snared another multi-national company for tax evasion. This time, French pharma firm Sanofi Aventis, that acquired India’s Shantha Biotech last year, has been asked to pay Rs 650 crore as capital gains tax to the Indian government. ...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (4,353)
Company Law (5,141)
Custom Duty (7,476)
DGFT (4,040)
Excise Duty (4,274)
Fema / RBI (3,887)
Finance (4,045)
Income Tax (31,134)
SEBI (3,232)
Service Tax (3,477)

Search Posts by Date

November 2019
« Oct