COMMISSION PAID TO AGENT FOR SERVICES RENDERED OUTSIDE INDIA WASN'T TAXABLE IF HE DIDN'T HAVE ANY PE IN INDIA DCIT V. TVS SRI CHAKRA LTD. [CHENNAI ITAT], ITA NO. 501… Read More
CORPORATE AND PROFESSIONAL UPDATE DECEMBER 9, 2015 DIRECT TAXES: 1. Revision u/s 264 in favor of assessee - the appeal of the Assessee has not been disposed on merits. In… Read More
VAT & SERVICE TAX - TAX-ABILITY OF SOFTWARE & RELATED MATTER OVERVIEW SOFTWARE– To be treated status quo with implications in case of software. CLOUD SHARING: - Liable to… Read More
APPLICABILITY OF PAN REQUIREMENT FOR FOREIGN NATIONALS AT THE TIME OF COMPANY INCORPORATION Ministry of Corporate Affairs (MCA) has reconciled with the fact that not all Fireign Nationals are required… Read More
FOREIGN INWARD REMITTANCE CERTIFICATE (FIRC) 1. INTRODUCTION: Foreign Inward Remittance Certificate (FIRC) is a document that provides proof of inward remittance to India. Such remittance could be either on account… Read More
Corporate and Professional Update December 8, 2015 INCOME TAX ACT SECTION 10A FREE TRADE ZONE Computation of deduction : An assessee cannot include notional interest on surplus funds as income in… Read More
Corporate and Professional Update December Direct Taxes: Reimbursement of salary costs of seconded personnel - whether is in the nature of fees for technical services u/s 9(1)(vii) - TDS u/s… Read More
Corporate and Professional Update December 6, 2015 Indirect Taxes: Activity of production of Marble Slabs / tiles from rough irregular marble slabs - cutting and polishing of the granites into… Read More
UNDERSTANDING, CIRCUMSTANCES, TIME LIMIT, PRIOR PERMISSION UNDER FCRA Understanding ‘prior permission’ under FCRA An association or an organization can receive foreign contributions even without registration with prior permission from the… Read More
ANNUAL FILLING OF A PRIVATE LIMITED COMPANY Every company shall prepare a return (hereinafter referred to as the annual return) in the prescribed form containing the particulars as they stood… Read More