International Tax

ITAT: No TDS on commission paid to foreign based agent.

Commission paid by Wizcraft (an entertainment event management firm in India) to a UK based agent for organising the performances of various international artists in India is not taxable in

Jan 13,2011

ITAT: No TDS on roaming charges paid by telecom company.

Payment of Roaming Charges is not 'Rent' and not liable for TDS u/s 194-I

Jan 13,2011

ITAT: Interest on refund of excess withholding tax

Tax department should pay interest on refund of excess withholding tax (TDS) paid pursuant to tax officer's order under section 195(2)

Jan 12,2011

ITAT: Treatment of Business Centre Income.

Income from business centre is taxable as "business income" and not as "other sources"

Jan 12,2011

ITAT: Premium on Held to Maturity securities- an revenue expenditure.

Amortisation of premium on securities held under "Held to Maturity" category by a Bank is deductible revenue expenditure.

Jan 12,2011

ITAT: Expenditure on outsourced Clinical trials not eligible u/s35(2AB)

Expenditure incurred on outsourcing of the clinical trials by "an approved R&D facility" is not eligible for the weighted deduction for R&D under section 35(2AB) of the Income-tax Act

Jan 12,2011

ITAT: Payment for reassembling and commissioning: not covered under Fees for technical services.

Payment to an Italian company for "reassembling and commissioning" of the machines in India is not taxable in India

Jan 13,2011

HC: No tax holiday u/s 10A to Foreign branch.

Tax holiday is not available to foreign branch carrying on-site software development and full-fledged marketing operations.

Jan 12,2011

HC: Interest earned on foreign exchange- Not eligible u/s 80HHD.

Interest earned on short term deposits made out of foreign exchange advance received from foreign tourists is not eligible for deduction under section 80HHD -Delhi High Court

Jan 12,2011

HC: Offshore supply of equipments- Not taxable.

Offshore supply of equipments as a part of EPC contract is not taxable in India

Jan 12,2011

Pages

Top