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The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has determined that the Fee for Technical Service (FTS) and interest income received from the joint venture Indian company must be taxed by the directive issued by the Tax Deduction at Source Officer, as per Section 195 of the Income Tax Act, 1961. The taxpayer […]
The receipts from the provision of background screening and investigation services to clients in India are not royalties or fees for technical services (FTS), ruled by the Delhi Bench of the Income Tax Appellate Tribunal (ITAT). There have been no technical skills or knowledge or consultancy or make available any technical knowledge, experience, skill, know-how, […]
Recently Indian government amended local tax laws in the finance bill. Among many amendments, some notable ones are raising the withholding tax rate on royalties and FTS gained by non-residents and foreign corporations. Because of these amendments, Starting on April 1, 2023, the tax rate on royalties and FTS increased from 10.92% to 21.84% and […]
The Kolkata Bench Income Tax Appellate Tribunal (ITAT) does not have ordered any TDS on payment of fees for technical services (FTS) to non-residents not having a Permanent Establishment (PE) in India. The two-member bench of Rajpal Yadav (Vice President) and Rajesh Kumar (Accountant Member saw that the payment incurred to the non-resident recipients who […]
The Income Tax Appellate Tribunal has ruled that the affidavits received by tax authorities from Family Member are sufficient to prove that the Cash Gift is genuine. Here in this case, the assessee, Dheeraj Thakran is an individual and his sources of income are from: Rent Profession And other sources. And he has already filed […]
There are difficulties in the goods and services tax (GST) in the year 2021. Therefore an issue is raised on the healing towards the year gifts or brand promotion goods such as pens, calendars, bags, or diaries under the GST framework. Any goods such as a carry bag on which there is a brand embossed […]
GST – one country one tax has brought uniformity in the taxation system which led to the decrement in U.P.’s total GST revenue shortfall from 20% of last year from July to march
Handloom and handicrafts industry again comes up in protest against the GST rate applicable to them. This protest came even after the 23rd GST council meeting reduced the tax rates on handicrafts and handloom down from 28-18 to 12 percent.
Musical Instruments will be imposed at 28 percent higher tax rate in the Goods and Services Tax (GST) Regime and the owners of musical stores are protesting for the higher tax rates with confusion.
