ETF Taxation in India – Simplified Overview ETFs are taxable in India. Any profit earned from the sale of ETF units and any income received through IDCW (Income Distribution cum Capital Withdrawal) is subject to tax. Equity ETFs enjoy equity taxation benefits, provided they satisfy the prescribed domestic equity exposure conditions. Short-Term Capital Gains (holding …
Corporate and Professional Updates on 25th January 2019 Indirect Tax: The government’s decision to create a national Goods and Services Tax Appellate Tribunal to adjudicate disputes is on the way. It will help in faster resolution and also bring uniformity in the redressal of GST disputes. The tribunal will act as a forum for …
Direct Tax: Case Laws on Income Tax: Orchid Infrastructure Developers Pvt. Ltd and Ajay Kumar Gupta & ORS. Vs. Union of India & ORS. Liability to pay interest u/s 234B(2A) – retrospective legislation – sub-section (2A) to Section 234B would be applicable to all proceedings in which orders are pending and /or in which orders u/s 245D(4) are passed on or …
Corporate and Professional Updates on 23rd January 2019 Direct Tax Updates: The Department of Income Tax made a list of Individuals who made Out High-value transactions in the financial year 2017-18 but did not file income tax returns. The Department is analyzing the list carried out to identify non-filers about whom specific information was available …
Indirect Tax: FAQ’s On GST: QUES. What is considered as ‘securities’ under the Goods and Services Tax Act? Are they taxable under GST? ANS. Section 2(101) of the CGST Act, 2017 defines “securities” to have the same meaning as assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956. …
Direct Tax: The Income Tax Department Has Come across Several Cases Where Tax Payers Have Taken Credit for Payment of “Self-Assessment tax” without actually clearing the dues, resulting in arrears of around Rs 5,000 crore. I-T dept is chasing those tax payers to recover Rs 5,000 Cr. Indirect Updates: The leader and deputy chief minister …
Direct Tax Updates: The Central Board of Direct Taxes may soon issue circular directing field officials not to press for payment until the case has been decided at the first stage of appeal. In case notice have been Issued no action will be taken, allowing investors to approach Central Board Of direct Tax and obtain …
Direct Tax updates: The Return Of Income tax may get processed In 1 day now while earlie rafter 63 days, making refunds more expeditious, after a proposed integrated e-filing and Centralised Processing Centre. The New system will permit issue of refunds to the taxpayer’s bank account without any face to face communication with Government. The …
Corporate and Professional Updates on 15th Jan. 2019 Indirect Updates: The GST council Has Announced allowing the composition schemes to file one annual return with a simple explanation, while earlier they have to file the return quarterly is a relief for many small and medium-sized enterprises. The payment of taxes still needs to be …
Indirect Tax Updates: Indian businesses may soon be able to amend goods and services tax (GST) return mandated for carrying forward tax credit from the previous regime for non-IT related errors as well. The GST Council has directed a committee for IT grievance Redressal to quickly draw up a solution that will give relief to …