Comprehensive Overview Form 10F Filing Form 10F is a critical document for non-resident taxpayers in India seeking to avail benefits under the Double Taxation Avoidance Agreement. Below is a detailed breakdown of its purpose, eligibility criteria, required documents, and filing requirements. Income Tax Form 10F is an essential document for non-resident taxpayers aiming to benefit …
Complete Understanding the taxation of foreign companies in India Understanding the taxation of foreign companies in India involves navigating through various legal provisions, especially those pertaining to residency, types of income, and the applicability of Double Taxation Avoidance Agreements (DTAAs). Understanding the taxation regime in India for different types of companies and their residency status …
Importance, documents and applicability of Form 10F for Non-Residents : Income Tax Form 10F is an important document for non-residents (NRIs) as it is used to claim beneficial tax treatment under Double Taxation Avoidance Agreements (DTAA) between India and other countries. this Article on Navigating Form 10F and PAN Requirements for Non-Resident Taxpayer. – Purpose: …
Income Tax Taxability on Shares & ESOP outside India Basic primary goal behind any loan term & short-term investment strategy is to generate the maximum return on our investment. So this the basic reason, people use to move towards investment in foreign stocks for good return on investment. To demonstrate, long-term investment in scalable, alluring …
Form No.67 is not compulsory but a directory requirement, Disallowance of Foreign Tax Credit due to delay in filing the same not valid: ITAT Income tax Form No.67 is not Compulsory However a directory requirement, the Income Tax Appellate Tribunal Bangalore Bench has held that Income tax disallowance of Foreign Tax Credit due to delay …
INTEREST ON TAX REFUND NOT COVERED BY DEFINITION OF INTEREST UNDER INDIA-ITALY DTAA AND LIABLE TO TDS AT 40% Ansaldo Energia SPA v. DDIT [ITAT Chennai], ITA No. 1496 to 1498 of 2014, dated: July 17, 2015 Facts of the case The assessee, an Italy based company, was engaged in the business of designing, building and supplying …
CLARIFICATION REGARDING BINDING NATURE OF CIRCULAR AND INSTRUCTIONS Recently, CBEC issued Circular No. 1006/13/2015-CX dated 21st September,2015 vide F.No.96/90/2015-CX.1 to clarify issues related to binding nature of circular and instructions which are contrary to the judgment(s) delivered by Honble Supreme Court. Circular draws attention towards judgment of Hon’ble Supreme Court in case of M/s Ratan …
NEW RELIEF FOR DEVELOPERS IN HARYANA AS RULE 49A Earlier, on 12th August 2014 the Haryana State Government, issued a notification No. S.O. 89/H.A.6/2003/S.60/ 2014, for introducing composition scheme specifically for the builders engaged in the construction activities and inserted Rule 49A for the lump sum payment of VAT by the builders. Although, prior to …
CORPORATE UPDATE FOR THE MONTH: Wal-Mart’s India sales go south by 32% in 2014 Sep 28, 2015 The Indian unit of Wal-Mart Stores Inc, the world’s largest retailer, posted its first ever sales decline after parting ways with key client Bharti Retail and halting store expansion amid an ongoing internal probe into alleged corrupt …
CONCEPT OF GROSSING UP/ INCOME TO BE PAID “NET OF TAX” & SECTION 206AA 1. Sec 206AA The provisions of Section 206AA of the Income tax Act, 1961 have been reproduced hereunder: Notwithstanding anything contained in any other provisions of the Act, any person entitled to receive any sum or income or amount, on which tax …