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SC refuses to reopen 2021 ruling exempting foreign software payments from royalty taxThe Supreme Court has once again dismissed the income tax department's review petitions concerning the taxation of software payments to non...- SC order turns up tax heat on old benami transactionsThe Supreme Court has ruled that tax authorities can retroactively apply the benami law to confiscate assets from transactions predating 20...
- India Inc caught between data, tax and labour overhaulsNew laws like the I-T Act and Labour Codes are creating uncertainty for employers. Companies face challenges in understanding new rules for...
- Payment for imported software not royalty, rules SCA bench of Justices BR Gavai, BV Nagarathna and Pankaj Mithal rejected a batch of review petitions filed by the Commissioner of Income Tax ...
- I-T lens on use of multiple PAN cards in weddings, big purchasesSale and purchase of goods or services exceeding ₹2 lakh in cash must be reported on form SFT-013 by the seller. As per the board's plan, d...
- Salaried individuals under I-T scanner as taxman serves notices asking assessees for documentary proof to claim exemptionITRs filled with fake rent receipts from close relatives, extra claims against home loans, false donations may come back to haunt many, par...
- Domestic travel operators welcome TCS rollback, but say move is a partial reliefThe travel industry in India has expressed gratitude for the government's decision to withdraw the increase of tax collected at source (TCS...
- Travel industry seeks removal of 20% TCS on overseas packages"The TCS should be completely abolished or should be kept at a notional rate of 0.1% which will still meet the government objective of chec...
- GAAR probe begins on companies suspected of tax avoidanceThe company has now approached the high court for state of Telangana at Hyderabad challenging the applicability of the section for some tra...
- MNCs rush to tax experts as SC backs I-T dept on reassessment noticesThe apex court on May 4 ruled that thousands of show-cause notices issued by the income-tax department under an old provision (Section 148)...
- Netflix won’t pass on impact of 2% equalisation levy to India usersThe government broadened the scope of equalisation levy at 6%, first introduced in 2016, to include additional transactions. The definition...
- Netflix's tariffs likely to stay same; won't pass on equalisation levy to customers this yearET had reported in its edition dated August 5 that Google's stance of passing on the 2% equalisation levy to all its clients, even if they ...
- New rules to bring MNCs, startups under tax lensSeveral multinationals and startups that operate through a complex maze of structures as part of their tax planning are set to see their ta...
- Birthday candles, balloons, snow sprays under GST: Odisha Authority of Advance RulingsUnder the GST framework, nothing is for free. The ruling said that GST should be levied on these items and they should not be treated as co...
- Big Tech firms weigh outsourcing to meet India's new social media rulesGoogle, Facebook and Twitter, among others, are exploring whether they could outsource some of the functions to a separate entity or a cons...
- Big Tech firms see tax windfall after Supreme Court ruling on MicrosoftBig Tech firms, including Facebook, Amazon and Google, are set to file for tax refunds in India following a Supreme Court judgment on tax o...
- New Year calendars, pens, bags, diaries gifted or given for brand promotion now under GSTInput tax credit on any brand promotion item (goods) where name of a company is mentioned would attract GST, Karnataka Authority for Advanc...
- OECD’s transfer pricing and AP guidelines around Covid pandemic set to help Indian entitiesOECD has released much awaited Transfer Pricing Guidance on implications of Covid-19 pandemic. The OECD guidance focuses on all the complic...
- No TDS on reimbursement of salaries paid to employees on secondment: Karnataka High CourtANP wanted to provide certain services to an Indian client. For this ANP entered in an agreement with ABS. For the execution of the contrac...
- Taxmen are using the lockdown to build stronger cases against defaultersCBDT asked officers to not issue notices for now, but collect data that will help settle pending litigation.
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