Home Highlights February 2016 Year 2016 This

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1. Insertion of new Chapter XII-BC- Foreign company said to be resident in India - where a foreign company is said to be resident in any previous year and such foreign...

2. Resident of India - number of days of stay in India - a citizen of India, or a person of Indian origin - if the assessee comes to a visit in India, the requirement of...

3. Amendment of section 44AD. - computing profits and gains of business on presumptive basis - where an assessee declares profit for any previous year in accordance with...

4. Declaration and Payment of Dividend - The condition that, "No company shall declare dividend unless carried over previous losses and depreciation not provided in...

5. The ITAT Mumbai ruled on TDS u/s 195 regarding commission paid to foreign agents for procuring export orders. The assessee paid commission to non-resident agents outside...

6. Residence in India - Residential status - Status of the assessee as “Resident” of India - calculation of days of stay in India - inclusion of date of arrival in counting...

7. Taxability of dividend received from brazilian company in India - India Brazil DTAA - assessee is a resident company of India within the meaning of Article 23 paragraph...

8. Income accrued in India - providing bandwidth services outside India - The assessee company is a tax resident of Singapore, which is providing band width services to the...

9. Taxability of receipts from offshore supply of equipments - offshore supply made to Indian PSU’s which the assessee had claimed to be not chargeable to tax under Indian...

10. Taxability of salary income in India while rendering service in abroad - assessee is NRI - income accrued inside or outside India - assessee is a non-resident employee...

11. Conversion of a firm in Part-IX Company - resultant company is further merged with another company - violation of proviso to sec. 47 (xiii) r.w.s 47A(3) - The capital...

12. Foreign Direct Investment (FDI) in India -Allotment of Shares to person resident outside India under Memorandum of Association (MoA) of an Indian company – Pricing...

13. Royalty Income – Finance Act, 2010 has substituted the explanation to section 9 - such income shall be included in the total income of the non-resident, whether or not...

14. TDS - u/s 194J and u/s 195 - payment by way of reimbursement to member companies, allowances paid to resident and non-resident personnel and payment to foreign agents -...

15. Denying the benefit u/s 91 - Tax Credit - Income accrue in India - assessee being “Resident but not Ordinarily Resident" is not a “Resident in India” - persons who are...