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Section 95 of Income Tax Act

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June 21, 2022

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1 mins read

Section 95 of Income Tax Act – Power of tax authority to declare an arrangement as an impermissible avoidable arrangement

Section 95 of the IT Act, 1961, empowers the tax authority, to declare an arrangement as an impermissible avoidable arrangement. Tax authority has also power to declare a step in, or a part of, the arrangement as impermissible avoidable arrangement. The tax authority, to declare an arrangement as an impermissible avoidable arrangement overrides all other provisions  contained in the Income Tax Act, 1961.

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Arinjay Jain

Bio of author

Arinjay is a Chartered Accountant with more than 20 years of post-qualification experience. He worked as Director, in the M&A Tax Division at KPMG in India. Presently, he is advising several MNCs in UAE on Economic Substance Regulations and impact of the UAE Corporate Tax Law on their business and clients across globe on International Tax issues . He is a well recognised Trainer of International Tax and UAE Corporate Tax. The areas of service include the following : - Advise and Compliance relating to International Tax Issues; Advise relating to UAE Corporate Tax Issues; Advise and Compliance relating to UAE Economic Substance Regulations; Advise and Compliance relating to Indian Income Tax Issues; Other connected matters from a Regulatory perspective.

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