9911796707
| TMI General Search |
|
Advanced Search Options
Showing 81 to 100 of 192 Records Search Text: tax management india login |
| Search Results |
| Circulars (66) Acts / Rules (2) Case-Laws (78) Forum (3) Articles (10) TMI_Info (4) Manuals (2) News (16) Notifications (11) |
|
Consolidated FDI Policy The "Consolidated FDI Policy" issued by the Government of India, effective from April 17, 2014, outlines guidelines for Foreign Direct Investment (FDI) in India. It includes definitions, general conditions, entry routes, sector-specific conditions, and reporting requirements for FDI. The policy aims to attract foreign investment to supplement domestic capital, technology, and skills for economic growth. It specifies prohibited sectors, caps on investments, and conditions for various sectors like agriculture, mining, manufacturing, services, and financial services. The policy also details the roles of the Foreign Investment Promotion Board (FIPB) and Reserve Bank of India in regulating FDI.
CONSOLIDATED FDI POLICY The Consolidated FDI Policy, effective from April 5, 2013, aims to attract foreign direct investment (FDI) to supplement domestic capital, technology, and skills, thereby accelerating economic growth. It distinguishes FDI from portfolio investment by emphasizing a 'lasting interest' in enterprises. The policy framework is transparent and predictable, updated annually to reflect regulatory changes. The Department of Industrial Policy and Promotion (DIPP) issues policy pronouncements, which are notified by the Reserve Bank of India (RBI) as amendments to the Foreign Exchange Management Act (FEMA) regulations. The circular consolidates and supersedes previous guidelines, ensuring consistency with existing regulations.
RECENT DEVELOPMENTS IN GST The article discusses recent developments in India's Goods and Services Tax (GST) framework as of early 2025. The Union Finance Minister presented the 2025-26 budget, emphasizing growth and middle-class empowerment. The Central Board of Indirect Taxes and Customs (CBIC) issued notifications and circulars to implement GST Council decisions, including temporary identification numbers and late fee waivers for past filings. Clarifications were provided on GST applicability for various services, and warnings were issued against fraudulent practices. GST collection in January 2025 showed a 12% increase year-on-year, with significant growth in domestic and import collections.
ICEGATE: Indian Customs EDI Gateway ICEGATE, developed by the Central Board of Indirect Taxes and Customs, is India's electronic data interchange platform for customs processes. It facilitates electronic filing, integration with the Indian Customs EDI System, and online payment of duties, enhancing trade efficiency. ICEGATE acts as a single window for document submission to various government agencies, offers real-time tracking, and integrates with a Risk Management System to streamline customs clearance. The platform reduces paperwork, speeds up goods clearance, and ensures data security, supporting India's trade facilitation goals by automating customs operations and enhancing transparency and compliance.
2025 (1) TMI 893 - ITAT MUMBAI The court concluded that receipts from maintenance, support, and additional services provided by the assessee were not taxable as Fees for Technical Services (FTS) under Article 12(4) of the India-Singapore DTAA. The services did not "make available" technical knowledge or expertise to the Indian clients, as they could not independently apply such knowledge. Additionally, in the absence of a Permanent Establishment (PE) in India, the business receipts were not taxable under the DTAA. The judgment emphasized the necessity for actual transfer of technical expertise to qualify as FTS.
2024 (9) TMI 1449 - ITAT JAIPUR The ITAT dismissed the Revenue's appeal, affirming the CIT(A)'s order. The Tribunal upheld the admissibility of evidence under Rule 46A, the deletion of an addition under Section 68 for unexplained cash deposits, and the removal of a 25% disallowance of cash expenses. The Tribunal found the CIT(A)'s evaluation of evidence thorough and the Revenue's objections unsubstantiated.
2024 (8) TMI 796 - SECURITIES AND EXCHANGE BOARD OF INDIA The SEBI identified the scheme operated via the Growpital platform as a prima facie Collective Investment Scheme (CIS), violating SEBI Act, CIS Regulations, and PFUTP Regulations. Key individuals and entities, including Farm Tech Silo LLP and Yotta Agro Ventures, are held liable. Urgent directions were issued to cease CIS activities, freeze assets, withdraw advertisements, and restrict market access. Compliance and reporting requirements were mandated, including freezing of accounts. Entities have 21 days to respond and request a hearing. These measures are effective immediately to protect investors and prevent further illegal activities.
2024 (1) TMI 269 - ITAT BANGALORE The Tribunal partly allowed the appeal, ruling in favor of the assessee on the issue of subscription fees being treated as 'Royalty.' It concluded that the subscription fees did not constitute 'Royalty' under section 9(1)(vi) of the Income Tax Act and Article 12(3) of the India-USA DTAA, as the subscribers only had a non-exclusive, non-transferable license to view content without rights to the copyright or infrastructure. Other grounds, including the validity of the assessment order, non-quoting of DIN, and levies under sections 234A and 234B, were dismissed as not pressed.
2023 (9) TMI 252 - ITAT BANGALORE The Tribunal held that the subscription revenue received by the assessee from Indian customers does not constitute "royalty" under the Income Tax Act and India-US DTAA. The fees were deemed not payment for the use of copyright, information concerning industrial experience, or granting any right to use equipment. The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition made by the Assessing Officer.
e-Verification Scheme, 2021 The e-Verification Scheme, 2021, established by the Central Government under the Income-tax Act, 1961, aims to streamline the verification of tax-related information using technological tools such as artificial intelligence and machine learning. The scheme outlines processes for collecting, verifying, and processing information electronically, ensuring efficient resource allocation through an automated system. It mandates electronic communication between tax authorities and taxpayers, eliminating the need for personal appearances unless requested. The scheme also includes provisions for random allocation of cases, issuance of notices, and a grievance redressal mechanism to enhance transparency and efficiency in tax administration.
RECENT DEVELOPMENTS IN GST The article discusses recent developments in India's Goods and Services Tax (GST) system, highlighting significant economic growth projections for 2021-22, despite the pandemic's challenges. The Indian economy is expected to grow significantly, supported by private consumption and public investment. The article notes the GST system's vulnerabilities to input tax credit frauds and suggests further simplification to enhance collections. New GST changes include mandatory e-invoicing and QR codes for businesses with a turnover exceeding 50 crore. March 2021 saw record-high GST collections, indicating economic recovery. The article also covers updates on GST compliance, penalty waivers, and the composition scheme for FY 2021-22.
RECENT DEVELOPMENTS IN GST The Indian economy is showing signs of recovery, with GDP contraction predictions improving and manufacturing rebounding, despite shrinking private consumption. The OECD suggests additional fiscal measures for India to address urban poverty and unemployment. The Central Board of Indirect Taxes and Customs (CBIC) has issued several updates, including waiving penalties for non-compliance with QR code requirements until March 2021 and mandating 8-digit HSN codes for certain goods. Measures to combat GST fraud, such as physical verification of entities, have been implemented. November 2020 saw a GST revenue collection of 1,04,963 crore, indicating a slight increase from the previous year.
Extension of Deferred payment of Customs duty benefits to `Authorised Public Undertakings’ The circular issued by the Ministry of Finance extends the deferred payment of customs duty benefits to Authorized Public Undertakings (APUs) as per Notification No. 78/2020-Customs. Eligible APUs, defined as government companies or statutory bodies with a valid Importer-Exporter Code, can apply for this facility, which aims to expedite customs clearance. The deferred payment is governed by the Deferred Payment of Import Duty Rules, 2016, and requires APUs to adhere to compliance criteria, including no recent fraud or prosecution cases. Approved APUs can utilize the facility for two years, with possible extensions, and must authenticate transactions via ICEGATE.
Amendment in Notification No. S.O 3265 (E) dated the 12th September, 2019 The notification amends the previous notification dated September 12, 2019, regarding the Income Tax Act's faceless assessment scheme. Key changes include substituting "E-assessment" with "Faceless Assessment" and outlining the procedures for assessments under this scheme. The National e-Assessment Centre will manage assessments, assign cases, and handle communications with assessees. The process involves automated allocation, digital communication, and provisions for video conferencing for hearings. The notification also details the roles of various units and procedures for handling draft assessment orders, penalties, and appeals. It emphasizes digital authentication and sets standards for the e-assessment process. The changes are effective from the date of publication.
2019 (8) TMI 1664 - ITAT BANGALORE The ITAT partially allowed the appeal, remanding key issues to the TPO for further evaluation. It directed the exclusion of certain comparables due to functional dissimilarities and remanded others for reassessment. The Tribunal emphasized accurate comparability analysis and proper handling of interest on receivables, aligning with established judicial precedents.
2019 (4) TMI 1818 - ITAT MUMBAI The tribunal allowed the appeal of the assessee, ruling that subscription fees from both CAS and PUBS divisions were not taxable as royalty under the Income Tax Act or the India-US DTAA. Consequently, the determination of tax rate and the charging of interest were rendered academic or consequential.
Refund of IGST paid on export of goods under Rule 96 of CGST Rules, 2017 The circular informs exporters and traders about the guidelines for claiming refunds of Integrated Goods and Services Tax (IGST) paid on exported goods under Rule 96 of the Central Goods and Services Tax (CGST) Rules, 2017. Exporters must ensure accurate filing of Export General Manifest (EGM) and returns in Form GSTR-3 or GSTR-3B to process refund claims. Bank account details must be consistent with those registered with Customs for smooth refund processing. Refunds may be withheld if exports violate the Customs Act, 1962. Guidelines for manual shipping bills will be issued separately, and any difficulties should be reported to the department.
2017 (5) TMI 794 - SECURITIES APPELLATE TRIBUNAL, MUMBAI The tribunal upheld findings of violations by the appellants under the SEBI Act, PFUTP Regulations, and PIT Regulations, but set aside the uniform 14-year restraint period and quantum of disgorgement due to lack of specific reasoning and contradictory orders. The matter was remanded to the WTM for a fresh order within four months. The appellants were directed not to access the securities market until the fresh order is passed.
UPDATED USER GUIDE ON PAYING MCA21 FEES VIA NEFT The Ministry has updated the user guide for paying MCA21 fees, now allowing payments via NEFT in addition to credit card, internet banking, and physical challan. Five banks are authorized to collect MCA21 fees, but NEFT offers a more efficient alternative to reduce delays in company incorporation and eForm processing. Users can select NEFT, generate a SRN and eChallan, transfer funds, and receive a unique transaction number (UTN) from their bank. The MCA21 system is notified within hours, and users must link the UTN and SRN for verification. Separate payments are required for filing fees and stamp duty.
UPDATED USER GUIDE ON PAYING MCA21 FEES VIA NEFT The Ministry has introduced the option to pay MCA21 fees via NEFT to address delays in company incorporation and eForm processing. Previously, payments were limited to credit cards, internet banking, and physical challans through five authorized banks. With NEFT, users can now transfer funds electronically by selecting NEFT as a payment option, generating an SRN and eChallan, and completing the transfer through their bank. Users must link the unique transaction number provided by their bank with the SRN on the MCA21 system for verification. Separate payments are required for MCA filing fees and stamp duty.
|
