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INTERNATIONAL TAX - Equalisation Levy - Budget 2016

Budget - By: - CS Swati Dodhi - Dated:- 1-3-2016 Last Replied Date:- 30-12-1899 - In order to address the challenges posed by the new digital economy and the rapidly evolving nature of its transactions, it is proposed to insert a new Chapter titled E .....

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carries out business or profession, or from a non-resident having permanent establishment in India. Further, in order to reduce burden of small players in the digital domain, it is also provided that no such levy shall be made if the aggregate amoun .....

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sing expenditure in India have risen on account of greater digitalization and increased use of the web as a most reliable advertising medium. To provide certainty and to avoid interpretational issues, it is also proposed to define certain terms and e .....

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for statutory authorities and also prescribes the duties and powers of the authorities to administer the equalisation levy. In order to ensure effective compliance, it also proposes to provide for interest; penalty and prosecution in case of defaults .....

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aid before each House of Parliament. This levy would need to be collected by the person making the payment, much like withholding tax and paid similarly into the government s account on a monthly basis, provided the sum being paid to the non resident .....

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ayments honest. Further, it has been proposed to amend certain sections (Section 40 of the act) to allow the expenses on which such equalization levy is impose-able as deduction only in the year in which such levy has been paid to the government. To .....

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mpt in India. The drafting of the exemption would make it appear that the total income (including the levy) are therefore exempt, in this case the levy should be recoverable by the non-resident by filing a simple return of Income. Rationalization of .....

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