Bird’s Eye view of the ‘Special Provisions for Foreign Company said to be resident in India- Section 115JH’ Concept of taxation Non-Resident Taxation Provision of Income Tax Act, 1961 Section 115JH Provision deals with Taxation of Foreign Company which is resident in India Special Provisions for Foreign Company said to be resident in India – … Read more
Bird’s Eye view of the ‘Place of Effective Management (POEM) in India’ Concept of taxation Non-Resident Taxation International principle Place of Effective Management (POEM) Applicability of POEM Engagement in “Active Business Outside India” Topics Covered under Place of Effective Management (POEM) in India Meaning Of Place Of Effective Management (POEM) Non Applicability Of POEM (Place … Read more
Bird’s Eye view of the ‘Residential Status of Company’ Concept of taxation Non-Resident Taxation Provision of Income Tax Act, 1961 Section 6- Residential Status Types of Residential Status Resident Non-Resident Factor for determining residency Place of Effective Management (POEM) Residential Status of a Company – Introduction Residential status of a company, is an important factor … Read more
Bird’s Eye view of the ‘Residential Status of HUF’ Concept of taxation Non-Resident Taxation Provision of Income Tax Act, 1961 Section 6- Residential Status Types of Residential Status Resident and Ordinarily Resident (ROR) Non-Resident and Ordinarily Resident (NROR) Non-Resident Factor for determining residency Place of Control and Management i.e. Residential Status of Karta Residential Status … Read more
Bird’s Eye view of the ‘Residential Status of an Individual’ Concept of taxation Non-Resident Taxation Provision of Income Tax Act, 1961 Section 6- Residential Status Types of Residential Status Resident and Ordinarily Resident (ROR) Non-Resident and Ordinarily Resident (NROR) Non-Resident Factor for determining residency Duration of stay within Indian territory Residential status of an individual, … Read more
Bird’s Eye view of the ‘Residential Status- Section 6’ Concept of taxation Non-Resident Taxation Provision of Income Tax Act, 1961 Section 6- Residential Status Residential Status Section 6 – The quantum and applicability of tax on a person, depends upon the Residential Status of such person. Under the Income Tax Act, 1961 : – Person … Read more
Introduction to Non-Resident Taxation Although extensive literature has been provided for the taxation of Residents of India, taxation of non-residents is just as important. This article introduces the reader to the concept of ‘non-resident’ and other terms that he will encounter while learning about this concept and its other facets. It also further delves into … Read more
Miscellaneous Transfer Pricing Provisions OBJECTIVE OF INTRODUCTION OF SECTION 94A Discourage assessees from entering into transactions with persons located in countries or territories which do not exchange tax information with India. NOTIFIED JURISDICTIONAL AREA – SECTION 94A The Central Government may notify any country or territory outside India as a Notified Jurisdictional Area (NJA), if … Read more
SAFE HARBOUR RULES FOR SPECIFIED DOMESTIC TRANSACTION CBDT vide Notification No. 11/2015 dated 04.02.2015 in exercise of the powers conferred by section 92CB and 92D, read with section 295, inserted Rules 10TH, 10THA, 10THB, 10THC, & 10THD and has prescribed the safe harbour rules for specified domestic transaction as well. ELIGIBLE ASSESSEE WHO CAN OPT … Read more
Safe Harbour Rules for International Transactions Transfer Pricing involves lot of dispute amongst taxpayers and tax authorities, on how much should be the margins of various transactions/ what should be the ALP of given transactions between AE’s. Given the ever changing technologies and mode of operating business, the margins, ALP determined once may not be … Read more