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Online payment of Taxes and Filings The text provides a comprehensive guide on online tax payment and filing services, including income tax registration, payment, and status checks. It covers services related to both physical and electronic PAN cards, such as application, correction, and reprint requests. Additionally, it details Goods and Services Tax (GST) processes, including registration, tracking, and e-way bill management. The document also outlines Tax Deducted at Source (TDS) services, including registration and login processes for both deductors and taxpayers. The information is compiled from government sources for user convenience, with a disclaimer regarding responsibility for any consequences.
2024 (5) TMI 160 - ITAT DELHI The Tribunal allowed the appeal, ruling that the entire receipts of INR 4,94,29,858 from software licensing and maintenance services were not taxable in India. The assessment order was quashed due to non-compliance with DRP directions, and the AO was instructed to adhere to the DRP's findings. The software licensing fees were deemed business income, not Royalty or FTS, under the India-USA DTAA, as they did not meet the 'make available' test. The Tribunal also found no evidence of the licensee having rights to modify or exploit the software, reinforcing that the services were ancillary to the software license.
2024 (12) TMI 1336 - ITAT DELHI The Tribunal partially allowed the appeal, ruling that receipts from data center services and advertisement space were not taxable as "Royalty" under the India-Singapore DTAA, as there was no transfer of control or possession of equipment. Similarly, receipts from business support services were not taxable as "Fee for Technical Services" (FTS) since they did not meet the "make available" test. Consequently, the Tribunal directed the deletion of related additions. The issue concerning the initiation of penalty proceedings under section 270A was dismissed as premature.
2023 (3) TMI 256 - ITAT DELHI The Tribunal upheld the CIT(A)'s decision to allow the deduction under section 80IA for the assessee, dismissing the Revenue's appeals for all the assessment years involved. The Tribunal found that the assessee had demonstrated sufficient cause for the delayed filing of the return, was engaged in eligible business activities under section 80IA, and had set up and operated the infrastructure facility as required by the statute.
2022 (5) TMI 1423 - ITAT MUMBAI The Tribunal partly allowed the appeal, primarily on the grounds of adopting the 'Other Method' for transfer pricing analysis, thereby determining that the international transactions were at arm's length. The other grounds related to TNMM, comparability analysis, and penalty proceedings were dismissed as infructuous or premature.
2021 (10) TMI 14 - ITAT MUMBAI The appeal was allowed by the Tribunal, with additions related to IDC charges, other service charges, and member login fees being deleted as they were not considered royalty under the Income Tax Act or the India-Singapore DTAA. The Tribunal's decisions aligned with past rulings, emphasizing the non-taxability of these charges as royalty. General grounds raised by the appellant were dismissed, and the order was pronounced on 22/09/2021.
Master Circular for Stock Brokers The Securities and Exchange Board of India (SEBI) has issued a Master Circular consolidating various guidelines and directives applicable to stock brokers. This document is intended to provide a comprehensive reference for stock brokers by compiling relevant circulars and updates. The circular covers a wide range of topics, including registration requirements, trading account opening procedures, supervision and oversight, and technology-related guidelines. It also addresses issues related to client dealings, such as the regulation of transactions, collateral management, and unauthorized trading. Furthermore, the circular outlines the conditions for internet-based trading, algorithmic trading, and the use of wireless technology in trading. It emphasizes compliance with SEBI regulations and the importance of maintaining proper records and systems to ensure market integrity and investor protection.
2017 (12) TMI 1580 - Bombay High Court The court upheld the constitutional validity of various provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA), finding them reasonable and in the public interest. It clarified that the application of RERA to ongoing projects was prospective, not retrospective, to protect consumers. The court deemed restrictions imposed by RERA, such as deposit requirements and project completion timelines, as reasonable to safeguard consumer interests. Additionally, the court mandated the inclusion of a Judicial Member in the Appellate Tribunal to align with judicial principles, ensuring a balanced approach in regulating the real estate sector.
Master Circular on Foreign Investment in India ((Amended upto April 08, 2015) The Master Circular on Foreign Investment in India, updated as of April 8, 2015, consolidates the regulatory framework under the Foreign Exchange Management Act, 1999, governing foreign investments in India. It covers Foreign Direct Investment (FDI), Portfolio Investment Scheme (PIS), and other foreign investments, detailing entry routes, eligibility, types of instruments, pricing guidelines, and reporting requirements. The sector-specific policies, prohibited sectors, and guidelines for calculating total foreign investment, ownership transfer, and downstream investments. It also addresses investments in Limited Liability Partnerships (LLPs), partnership firms, and proprietary concerns, specifying conditions and restrictions for non-resident investors.
IDFC FIRST Bank Goes Live on Direct Tax Collection System of CBDT IDFC FIRST Bank has been authorized by the Government of India and the Reserve Bank of India to collect direct taxes on behalf of the Central Board of Direct Taxes (CBDT). The bank has integrated with the Income Tax Portal, allowing its customers to pay direct taxes through its online and branch services. This development enhances the bank's offerings, making tax payments more accessible and efficient for its clients. IDFC FIRST Bank continues to focus on customer-friendly and ethical banking practices, offering a range of services across various sectors, and is committed to promoting financial inclusion and maintaining high asset quality.
2018 (7) TMI 294 - ITAT HYDERABAD The tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the payment as an affiliation fee and not royalty. It held that the payment was not subject to TDS provisions under Section 40(a)(ia) of the Income Tax Act as it did not involve any transfer of technical know-how or use of intellectual property, and was not taxable in India.
FICCI PRE-BUDGET MEMORANDUM 2018-2019 A pre-budget memorandum by FICCI for 2018-2019 highlights various economic and sectoral issues, emphasizing the need for tax reforms to stimulate growth. Key recommendations include reducing corporate tax rates to 25% for all companies, addressing the inverted duty structure in manufacturing, and expanding GST to include petroleum products. The memorandum advocates for rationalizing GST compliance, enhancing tax incentives for sectors like healthcare and housing, and improving the ease of doing business. It also calls for clarity on tax provisions affecting sectors such as IT, telecommunications, and financial services, and suggests measures to support MSMEs and infrastructure development.
2016 (11) TMI 290 - ITAT DELHI The Tribunal upheld the assessee's eligibility for deduction under section 10A of the Income Tax Act for providing outsourcing services involving significant computer software usage. It ruled in favor of the assessee, stating that telecommunication and insurance expenses should not be excluded from the export turnover for computing the deduction under section 10A. The decision highlighted the principle of consistency and the correct interpretation of relevant terms in the context of section 10A.
Master Circular on Foreign Investment in India The Master Circular on Foreign Investment in India, issued by the Reserve Bank of India (RBI), consolidates the regulatory framework for foreign investments under the Foreign Exchange Management Act (FEMA), 1999. It includes guidelines for Foreign Direct Investment (FDI), Portfolio Investment Scheme (PIS), and other foreign investments. The circular outlines the entry routes for foreign investments, eligibility criteria, types of instruments, pricing guidelines, and sector-specific policies. It also covers the procedures for reporting foreign investments, the issuance of shares, and the transfer of shares between residents and non-residents. Additionally, it addresses investments in Limited Liability Partnerships (LLPs) and partnership firms, providing detailed instructions for authorized dealer banks and investors. The circular is periodically updated to incorporate new instructions and regulatory changes.
The circular outlines the procedure for electronic filing and payment of Central Excise and Service Tax through the Automation of Central Excise and Service Tax (ACES) system, effective from April 1, 2010. It mandates e-filing and e-payment for assessees who paid over ten lakh rupees in the previous financial year. The ACES system offers modules for registration, returns, refunds, dispute resolution, and more, aiming to enhance efficiency, transparency, and taxpayer services. It provides benefits such as reduced paperwork, online tracking, and internal messaging. Detailed instructions for registration, e-filing, and e-payment processes are included, along with system requirements and support resources.
The circular issued by the Government of India outlines the procedures for electronic filing of Central Excise and Service Tax returns and electronic payment of taxes through the Automation of Central Excise and Service Tax (ACES) system. It mandates electronic filing and payment for assessees who paid Rs. 10 Lakhs or more in the previous financial year. The ACES system aims to enhance taxpayer services by automating processes like registration, returns, refunds, and dispute resolution. It provides benefits such as reduced physical interaction with the department, online registration, and tracking of documents. The circular also details registration processes for new and existing assessees, e-filing steps, and the importance of timely filing.
2025 (2) TMI 43 - ITAT KOLKATA The Tribunal ruled that the payment made by the assessee to Star Consortium Pvt. Ltd., Singapore, did not qualify as 'Royalty' or 'Fees for Technical Services' under the India-Singapore DTAA and the Income Tax Act, 1961. Consequently, the assessee was not required to deduct tax at source under Section 195, nor could it be considered an 'assessee-in-default' under Section 201(1). The Tribunal also vacated the interest demand under Section 201(1A) and found the appeal maintainable under exceptions in CBDT Circular No. 5/2024. The Tribunal dismissed the Revenue's appeals, affirming the decision of the Ld. CIT(A).
2023 (8) TMI 445 - ITAT MUMBAI The Tribunal ruled in favor of the assessee, a French company, in a tax dispute concerning the taxability of various service fees under the India-France DTAA. The Tribunal directed the Assessing Officer to delete additions made towards TSIS services and management fees, holding that these were not taxable as royalty or Fees for Technical Services (FTS). The issue of taxability of guarantee fees was remitted back to the AO for fresh examination in accordance with law. The appeal was partly allowed, providing relief to the assessee on the disputed tax liabilities.
2023 (4) TMI 1163 - ITAT MUMBAI The Tribunal upheld that payments for project-related services do not qualify as 'Royalty' under the Income Tax Act and DTAA. The services provided were deemed as IT infrastructure management and mailbox hosting services, not constituting 'Royalty'. Additionally, the payments were not classified as 'Fees for Technical Services' but treated as business profits. The receipts were considered as business profits under the DTAA, not taxable in India without a Permanent Establishment. The issue of short credit of TDS was remanded for verification, and the initiation of penalty proceedings was deemed premature and dismissed. The appeal was partly allowed for statistical purposes, with directions for further adjudication and TDS credit verification.
2021 (4) TMI 446 - ITAT MUMBAI The tribunal partly allowed the appeals, ruling in favor of the assessee by deleting the additions made for payments received as royalty and fees for technical services. The issue regarding the cost recharge related to an employee's salary was sent back to the assessing officer for further examination. Similarly, the matter of levy of surcharge and education cess was also remanded for adjudication. The tribunal dismissed the premature initiation of penalty proceedings under section 271(1)(c).
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