Home Highlights February 2016 Year 2016 This

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1. Insertion of new Chapter XII-BC- Foreign company said to be resident in India - where a foreign company is said to be resident in any previous year and such foreign...

2. Resident of India - number of days of stay in India - a citizen of India, or a person of Indian origin - if the assessee comes to a visit in India, the requirement of...

3. Amendment of section 44AD. - computing profits and gains of business on presumptive basis - where an assessee declares profit for any previous year in accordance with...

4. Declaration and Payment of Dividend - The condition that, "No company shall declare dividend unless carried over previous losses and depreciation not provided in...

5. The appellant qualified as a non-resident in India during the previous year 2015-16. A non-resident is taxable in India only for income received/deemed to be received or...

6. Residence in India - Residential status - Status of the assessee as “Resident” of India - calculation of days of stay in India - inclusion of date of arrival in counting...

7. The ITAT Mumbai ruled on TDS u/s 195 regarding commission paid to foreign agents for procuring export orders. The assessee paid commission to non-resident agents outside...

8. Taxability of dividend received from brazilian company in India - India Brazil DTAA - assessee is a resident company of India within the meaning of Article 23 paragraph...

9. Income accrued in India - providing bandwidth services outside India - The assessee company is a tax resident of Singapore, which is providing band width services to the...

10. Taxability of salary income in India while rendering service in abroad - assessee is NRI - income accrued inside or outside India - assessee is a non-resident employee...

11. A presumptive taxation regime is being introduced for non-resident cruise ship operators, deeming 20% of aggregate receipts as profits and gains from this business....

12. Foreign Direct Investment (FDI) in India -Allotment of Shares to person resident outside India under Memorandum of Association (MoA) of an Indian company – Pricing...

13. Taxability of receipts from offshore supply of equipments - offshore supply made to Indian PSU’s which the assessee had claimed to be not chargeable to tax under Indian...

14. Assessee employed by Indian entity but sent on long-term international assignment to Singapore. Salary received in India for administrative reasons, but employment...

15. Income deemed to accrue or arise in India - residential status of the assessee under the India-USA DTAA. Assessee stayed in India for more than 183 days, considered a...