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A recent survey has depicted the complexities of tax compliance for NRIs and OCIs. India has the world’s largest overseas diaspora, with nearly 32 million NRIs and OCIs. India’s NRI network witnesses an effective presence in Gulf countries, alongside Singapore, the US, Canada, the UK, and more. SBNRI surveyed a comprehensive investment platform for NRIs […]
If an enrolled dealer availed for any advantage under Section 19 of the TNVAT Act 2006 then he needed to comply with the norms mentioned in the stated section, Madras High Court ruled. The applicant did not deliver the original tax invoice from a registered dealer, and thus, he is unable to complain that the […]
The Indian income tax system has provisions for individuals and businesses to claim relief when they have paid taxes in a foreign nation. This relaxation is given under Section 90 of the Income Tax Act. To seek this assistance, Form 67 is used. This article explains the concept of relief under Section 90, emphasizes the […]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) recently ruled in favour of the appellant assessee, Mrudulagauri Jaysukhlal Bhalodia, by dismissing the demand for Tax Deducted at Source (TDS) on an amount for which tax had already been paid under Sections 201(1) and 201(1A) of the Income Tax Act, 1961, thereby helping the […]
The status of the residential person poses an essential role in finding out the method of his or her income that shall come under the tax for that year in India. Moreover, non-resident Indians NRIs and Persons of Indian Origin (PIOs) are very careful in preparing their stay in India for the specific year so […]
The Central Board of Direct Taxes (CBDT) directed that the Indian Laws and the double tax avoidance treaties give enough security to NRIs and expats who were helpless in India because of Covid-19 from the possibility to furnish taxes in 2 countries on a similar income in FY21. CBDT told in the circular provided on […]
As a fee for technical services (FTS) business support services are not liable for tax, and no TDS is accountable to be deducted, The Bombay High Court ruled. The bench of Justice K. R. Shriram and Justice Neela Gokhale noted that even if it is fees for technical or consultancy services, it can be just […]
The Bangalore Bench of the Income Tax Appellate Tribunal ruled that the TDS cannot be taken isolatedly in any assessment year without offering the affiliated income for taxation. The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has followed that the taxpayer will be qualified for the Tax Deducted at Source credit corresponding […]
Under Section 195 of the Income-tax Act (‘IT ACT’), any payment incur to the non-resident or to the foreign company in which the tax would need to be deducted. This article discusses the issues in dealing with the concern. Critical Points Related to Non-residents Taxation Conditions in Which the Non-resident Does Not Furnish the Return […]
