Date |
Title |
Citations |
07/25/2024 |
Government announces Employment Linked Incentives based on enrolment under EPFO along with skilling programme and internship scheme |
Press release issued by the Ministry of Labour and Employment |
07/25/2024 |
Unilateral set-off of Income-tax refund with the past dues by tax department not permissible during liquidation process under Insolvency and Bankruptcy Code |
Avil Menezes (Liquidator) v. PCCIT [Company Appeal (AT) (Insolvency) No. 258 of 2024]: Source - IBC Laws |
07/24/2024 |
India Union Budget 2024-25 |
- |
07/10/2024 |
Service fee arising from a single contract can be bifurcated into business income and fees for technical services for taxation purposes |
International Management Group (UK) Limited v. CIT (ITA 218/2017) |
07/09/2024 |
The Reserve Bank of India releases draft export & import regulations and directions under FEMA, 1999 for public comments |
RBI Press Release dated 2 July 2024 |
07/01/2024 |
India Tax Konnect - June 2024 |
- |
06/23/2024 |
Key recommendations of the 53rd GST Council meeting |
To regularize the past practice on an 'as is where is' basis in view of genuine interpretational issues |
06/19/2024 |
Important updates under Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 (EPF Act) |
Notified in official gazette on 27 March 2020 |
06/14/2024 |
General anti-avoidance rule can be invoked for a transaction not covered within the scope of specific anti-avoidance rule |
W. P. No. 46510 and 46467 of 2022 |
06/07/2024 |
Mere existence of a subsidiary does not result in a permanent establishment; the prescribed conditions need to be tested vis-à-vis actual facts |
Progress Rail Locomotive Inc. v. DCIT [W.P. (C) 12405/2019] |
06/05/2024 |
Guarantee charges received by a foreign company from its Indian subsidiary are not interest in nature; taxable as ‘other income’ |
Johnson Matthey Public Limited Company v. CIT (ITA No. 717/2018) |
06/03/2024 |
India Tax Konnect - May 2024 |
- |
05/29/2024 |
Taxation of a foreign company at a higher rate is not prevented by non-discrimination article of the tax treaty |
The Royal Bank of Scotland N.V. v. CIT (ITA/155/2005) (Cal) |
05/24/2024 |
Interest paid by a permanent establishment of a foreign bank in India to its overseas head office is not taxable under the tax treaty |
Explanation to section 9(1)(v) with effect from 1 April 2016 |
05/14/2024 |
Interest free loans given by banks to their employees continue to qualify as fringe benefits and hence taxable |
Section 17(2)(viii) of the Income Tax Act, 1961 (the Act) |
05/10/2024 |
Cost of bonus shares allotted prior to 1 April 2001 is nil; option of taking FMV as on that date as cost is not available |
Zash Traders v. ACIT (ITA No.747/Bang/2023) (Bang) |
05/07/2024 |
Karnataka High Court ruling declares the provisions under EPF Act for International Workers as unconstitutional |
The Gazette of India http://egazette.nic.in/WriteRead Data/2008/E_538_2010_002.pdf |
05/07/2024 |
Premium received on redemption of debentures is interest income; not capital gains |
Khushaal C Thackersey v. ACIT (ITA No. 3679/Mum/2015) (Mum) |
04/26/2024 |
Safe harbour rule for the angel tax provisions is curative in nature; applies retrospectively |
A closely held company is a company in which the public are not substantially interested as defined in section 2(18) of the Income-tax Act. |
04/24/2024 |
Payment received for sharing a third-party shrink-wrapped software with a group company is not ‘royalty’ in the absence of transfer of copyright |
Saxo Bank A/S v. ACIT (ITA No. 2010/Del/2023) |
04/01/2024 |
India Tax Konnect - March 2024 |
- |
03/15/2024 |
Duration of the provision of services from outside India is not relevant for the purposes of service permanent establishment |
Clifford Chance PTE Ltd.v. ACIT(ITA Nos. 2681 & 3377/Del/2023) (Del) |
03/14/2024 |
The provision of a cloud-based software-driven platform cannot constitute technical services if it is not cutomised or specifically designed for a particular customer |
SFDC Ireland Limited v. CIT (W.P.(C) 14636/2023) (Delhi High Court) |
03/13/2024 |
India-EFTA TEPA: New era for Indian consumers of Swiss chocolates and legendary Swiss watches! |
- |
03/05/2024 |
In the absence of a principal-agent relationship, the discount offered by the telecom company to its SIM card distributor is not 'commission' for the purposes of tax deduction at source |
Bharti Cellular Limited v. ACIT (Civil Appeal No. 7257 of 2011) |
03/05/2024 |
No disallowance of expenditure for non-deduction of tax at source from the payment to the non-resident for purchase of goods applying non-discrimination article under the tax treaty |
CIT v. Mitsubishi Corporation India P. Ltd (ITA 180/2014) |
02/29/2024 |
India Tax Konnect - February 2024 |
- |
02/23/2024 |
CBDT announces waiver of pending tax demands up to INR100,000 per taxpayer |
F/No 375/02/2023-IT-Budget dated 13 February 2024 |
02/20/2024 |
India’s Social Security Agreement with Brazil has come into effect from 1 January 2024 |
EPFO Circular No. IWE-1109/1/2020-IWU/Brazil/E-file (621352)/4763,dated 13 February 2024 |
02/16/2024 |
The US company does not have a permanent establishment in India for providing airline ticket booking services through its computer reservation system located outside India |
ITA No. 216/Del/2016 |
02/16/2024 |
A part of sales consideration kept in the escrow account which is unlikely to be received by the seller is to be excluded from the full value of consideration while computing capital gains |
Modi Rubber Ltd. v. DCIT(ITA No. 6866/Del/2018) (Del) |
02/15/2024 |
Anti-profiteering provisions under GST are constitutionally valid |
Pyramid Infratech Private Limited v. Union of India & Ors. [2024-VIL-84-DEL] |
02/01/2024 |
India Interim Budget 2024 |
Extension was given in the press release dated 28 June 2023 / Circular no. 10 dated 30 June 2023 issued by the CBDT. It is now proposed to be codified in the law |
01/29/2024 |
India Tax Konnect - January 2024 |
- |
01/29/2024 |
Capital loss arising from the cancellation of shares of a company is allowable to the shareholders even if no consideration is paid by the company |
Tata Sons Limited v. CIT(ITA No. 3468/Mum/2016) (Mum) |
01/05/2024 |
No reassessment proceedings in the case of the foreign company's capital account transaction of investment in shares of an Indian subsidiary as it did not give rise to any income |
Angelantoni Test Technologies SRL v. ACIT (W.P.(C) 15928/2023) |
01/04/2024 |
CBDT issues another set of guidelines for the deduction of tax at source on e-commerce transactions under Section 194-O of the Income-tax Act |
With effect from 1 October 2020 |