Date |
Title |
Citations |
| 12/24/2020 |
India Tax Konnect - December 2020 |
- |
| 12/24/2020 |
Tax is not required to be deducted if annual interest on CCD is not accrued and claimed during the year |
DCIT v. Coffeeday Enterprises Ltd (ITA No.2931/Bang/2018 & C.O. No. 42/Bang/2019) – Taxsutra.com |
| 12/24/2020 |
OECD releases guidance on TP implications of COVID-19, represents consensus view of members to Inclusive Framework |
Represent the consensus view of 137 member countries of the Inclusive Framework on BEPS |
| 12/23/2020 |
KPMG Tax Highlights - 2020 |
- |
| 12/23/2020 |
GST Notification update | Amendment to the Central Goods and Services Tax Act and Rules |
Person who are supposed to file quarterly returns |
| 12/23/2020 |
The Indian legal firm can claim foreign tax credit in India with respect to taxes deducted on professional fess in Japan |
Amarchand & Managaldas & Suresh A Shroff & Co v. ACIT (ITA No. 2163/Mum/2019, AY-2014-15) - Taxsutra.com |
| 12/15/2020 |
Indian subsidiary of a foreign company constitutes a PE in India. Income from supply of telecom equipment, its installation and commissioning is taxable in India |
Huawei Technologies Co. Ltd. v. ADIT (ITA No. 1500/DEL/2014) - Taxsutra.com |
| 12/14/2020 |
Gifting of shares to a group company pursuant to restructuring is not valid due to absence of voluntariness and thus it is taxable as capital gains |
PCIT v. Redington (India) (T.C.A No. 590 & 591 of 2019) - Taxsutra.com |
| 12/10/2020 |
Interest and fees earned by a foreign bank in connection with providing loans to Indian clients are taxable as interest income and not as business income under the India-Germany tax treaty |
DZ Bank AG - India Representative Office v. DCIT (ITA No. 1815/Mum/18) - Taxsutra.com |
| 12/09/2020 |
Discount on issue of shares under an ESOP scheme is allowed as a business expenditure |
DCIT v. Biocon Ltd. (ITA No. 653/Kar/2013, AY 2004-05) - Taxsutra.com |
| 12/07/2020 |
CBDT issues another set of FAQs on the Direct Tax Vivad se Vishwas Scheme |
CBDT Circular No.7/2020, dated 4 March 2020 |
| 12/04/2020 |
India Tax Konnect - November 2020 |
Urmin Marketing P. Ltd. v. DCIT - [ITA.No.1806/2019 AY 2015-16] (Ahm) |
| 12/04/2020 |
The Hon’ble Supreme Court reiterates its mandate for installation of CCTV and recording devices in the offices of the agencies having power to interrogate/ arrest and directs for a time bound implementation |
Paramvir Singh Saini vs. Baljit Singh and others [SLP (Criminal)] 3543 of 2020] |
| 11/27/2020 |
Union Cabinet approves Production Linked Incentive Scheme to promote domestic manufacturing of White goods |
Press Release dated 11 November 2020 |
| 11/25/2020 |
Indian resident is eligible for foreign tax credit on taxes paid in the UK on remuneration income |
Kapil Dev Ranwan v. DCIT (ITA No. 875/DEL/2017 (A.Y 2012-13)) - Taxsutra |
| 11/25/2020 |
Section 10AA benefit on export by SEZ units is available on commercial profits before claim of tax depreciation and investment allowance |
Reliance Industries Ltd. v. ACIT (ITA No. 7299/Mum/2017) - Taxsutra.com |
| 11/20/2020 |
OECD releases MAP statistics and presents MAP Awards. India-Japan bag MAP award for highest agreement ratio in TP cases |
- |
| 11/18/2020 |
Union Cabinet approves Production Linked Incentive Scheme to promote domestic manufacturing of Automobiles and Auto Components |
Press Release dated 11 November 2020 |
| 11/18/2020 |
Union Cabinet approves Production Linked Incentive Scheme to promote domestic manufacturing of Pharmaceutical Drugs |
Press Release dated 11 November 2020 |
| 11/17/2020 |
Union Cabinet approves Production Linked Incentive Scheme to promote domestic manufacturing of Speciality Steel |
Press Release dated 11 November 2020 |
| 11/13/2020 |
GST Notification updates | E-invoice to be made effective from 1 January 2021 for taxpayer having turnover in excess of INR 100 crore |
- |
| 11/12/2020 |
India Tax Konnect - October 2020 |
CBDT Notification No. 76 of 2020 and Press Release, dated 25 September 2020 |
| 11/02/2020 |
Power to arrest provision under GST can be invoked if the Commissioner has ‘reasons to believe’ that specified offences have been committed – Gujarat High Court |
Vimal Yashwani Giri Goswami and Others [TS-924-HC-2020(GUJ)-NT] |
| 10/22/2020 |
Amendments to the indirect transfer related provisions to exempt small shareholders and to define substantial value are retrospective in nature |
Augustus Capital PTE Ltd. v. DCIT (ITA No. 8084/Del/2018, AY-2015-16) - Taxsutra.com |
| 10/20/2020 |
Cesses being a ‘dead claim’ cannot be transitioned into GST – Madras High Court (Division Bench) |
Sutherland GLobal Services Private Limited [W.A. no. 53 of 2020 dated 16 October 2020] |
| 10/17/2020 |
Income from granting distribution rights of TV channels is not taxable as royalty under the India-USA tax treaty |
Turner Broadcasting System Asia Pacific Inc. v. DDIT (ITA No. 134/Del/2014) - Taxsutra.com |
| 10/16/2020 |
KPMG report: Summary and initial analysis of Pillar Two Blueprint |
- |
| 10/16/2020 |
KPMG report: Summary and initial analysis of Pillar One Blueprint |
- |
| 10/14/2020 |
No disallowance under Section 14A when no expenditure has been incurred in relation to exempt income or in the absence of exempt income |
CIT v. Celebrity Fashion Ltd (Tax Case Appeal No. 26 of 2018) (Mad) – Taxsutra - The High Court has dealt with the various issues in this decision. However, this flash news captures issue relating to disallowance under Section 14A.2 |
| 10/06/2020 |
Gift of shares without consideration by a company is exempt from capital gains tax liability |
Asian satellite Broadcast Pvt. Ltd. v. ITO (Writ Petition No. 2749 of 2019) - Taxsutra.com |
| 09/30/2020 |
CBDT issues guidelines on applicability of certain TDS provisions on e-commerce operators and on TCS provisions on certain payments |
Circular No. 17 of 2020, 29 September 2020, Income Tax Website |
| 09/29/2020 |
CBDT notifies Faceless Appeals Scheme 2020 |
CBDT Notification No. 76 of 2020 and press release, dated 25 September 2020 |
| 09/26/2020 |
Administrative expenditure apportioned towards managing investments in group companies and disallowed under Section 14A of the Income-tax Act |
Future Retail Ltd. v. ACIT (ITA No. 5959/Mum/2016, AY 2012-13) - Taxsutra.com |
| 09/26/2020 |
A Mauritian company does not constitute a fixed or an agency PE in India |
Overseas Transport Co. Ltd. v. DIT. (ITA No.3129/Mum/2002) (ITA No.712/Mum/2004) - Taxsutra.com |
| 09/21/2020 |
CBDT issues guidelines for compulsory selection of returns for complete scrutiny during the FY 2020-21 |
CBDT Order No. F.No.225/126/2020/ITA-II, dated 17 September 2020 |
| 09/21/2020 |
Lok Sabha passes the Bill encompassing reliefs and extension of various timelines due to COVID-19, faceless proceedings and certain amendments relating to the Finance Act 2020 |
CBDT Notification No. 35/2020, dated 24 June 2020 |
| 09/18/2020 |
The Supreme Court suggests the government to consider the efficacy of the AAR system and make it more comprehensive |
National Co-operative Development Corporation v. CIT (Civil Appeal Nos. 5105-5107 of 2009) - Taxsutra.com |
| 09/17/2020 |
Tax assessment cannot be based on news articles because it does not constitute sufficient evidence |
ACIT v. Reindeer Software Solutions Pvt. Ltd. (ITA No. 1354/Bang/2017) - Taxsutra.com |
| 09/14/2020 |
The benefit of ‘indexed’ cost of acquisition is available on the sale of long-term capital asset while computing Minimum Alternate Tax |
Best Trading and Agencies Ltd. v. DCIT. (ITA.No.191/2011) (ITA.No.32/2012) |
| 09/09/2020 |
Testing and certification services are taxable as FTS unless such services are not made available as prescribed under a relevant tax treaty |
Havells India Ltd. v. DCIT. (ITA No. 6072 & 6073/Del/2010 and 466/Del/2011, AY-2007-08) - Taxsutra.com |
| 09/03/2020 |
Taxpayer is eligible for refund of TDS even when corresponding income from offshore supply is not taxable in India |
Supreme Renewable Energy Ltd. v. ITO [2010] 124 ITD 394 (Chennai) |
| 09/03/20202 |
The AAR has correctly accepted the application since no question was pending upon issuance of a mere pre-printed scrutiny notice by the tax department under Section 143(2) of the Income-tax Act |
CIT v. Authority for Advance Rulings(W.P.(C) 5668/2020 & CM Appl. 20511/2020) - Taxsutra.com |
| 08/28/2020 |
Depreciation on goodwill is available on acquisition of business operations of a company |
Geodis Overseas private limited v. DCIT (ITA No. 2035/Del/2015) - Taxsutra.com |
| 08/25/2020 |
Long-term capital loss on sale of equity shares/equity oriented mutual funds on which STT is paid is not allowed to be set-off and carry forward |
Nikhil Sawhney v. ACIT (ITA No. 1248/Del/2017, AY 2013-14) - Taxsutra.com |
| 08/24/2020 |
Service tax update | Banks not liable for payment of service tax under reverse charge on correspondent bank charges – CESTAT, Delhi |
TS-643-CESTAT-2020(DEL)-ST |
| 08/21/2020 |
Reimbursement of salary cost of seconded employees to a foreign company is not taxable as Fees for Technical Services in India |
BOEING India Pvt. Ltd. v. ACIT (ITA No. 9765/Del/2019) - Taxsutra.com |
| 08/21/2020 |
CBDT issues detailed guidance on Mutual Agreement Procedure |
Notification (F. No.500/09/2016-APA-I, dated 7 August 2020) |
| 08/18/2020 |
CBDT amends rules providing PAN exemption to non-residents investing in category I and II AIF located in IFSC |
Circular No. SEBI/ HO/ IMD/ DF1/ CIR/ P/ 143/ 2018, 26 November 2020 |
| 08/18/2020 |
CBDT prescribes conditions and forms for an eligible Pension Fund seeking infrastructure exemption |
- |
| 08/15/2020 |
CBDT amends the E-assessment Scheme, 2019 to implement the Faceless Assessment Scheme |
Notification No. 61/2019, 12 September 2019 |
| 08/14/2020 |
Government constitutes Committee for export incentives under the RoDTEP Scheme |
- |
| 08/14/2020 |
CBDT amends rules to exempt dividend payment to non-residents from higher deduction of tax in the absence of PAN |
Relaxation from deduction of tax at a higher rate under Section 206AA |
| 08/14/2020 |
The Prime Minister unveils ‘Transparent Taxation’ Platform including the 'Taxpayers' Charter' |
Source - Taxsutra.com |
| 08/07/2020 |
India Tax Konnect - July 2020 |
Notification 35 of 2020, dated 24 June 2020 |
| 08/04/2020 |
Payment for hiring vehicles to a truck operator is liable for TDS since it was a payment made to a sub-contractor. Further the disallowance under Section 40(a)(ia) not only covers the amount ‘payable’ but also when it is ‘paid’ and tax has not been deducted on the same – Supreme Court |
Shree Choudhary Transport Company v. ITO (Civil Appeal No. 7865 of 2009) - Taxsutra.com |
| 07/31/2020 |
Disallowance under Section 14A is justified since the tax officer has followed the prescribed procedure |
CIT V. Tamilnadu Industrial Development Corporation Limited - [TCA Nos. 509 & 510 of 2018]- Taxsutra.com |
| 07/31/2020 |
Payment for infrastructure and data centre services is not taxable as royalty under the India-Singapore tax treaty. Further management service fees and referral fees are not taxable as FTS |
Edenred Pte Ltd. v. DCIT (ITA No. 1718/Mum/2014) - Taxsutra.com |
| 07/27/2020 |
Payment for web hosting and promotion services is not taxable as fees for included services under the India-US tax treaty |
Esm Sys Pte Ltd. v. ITO [ITA No. 350/Ahm/2018, AY-2013-14] - Taxsutra.com |
| 07/24/2020 |
Since activities of Foreign company’s project office were preparatory or auxiliary in nature, such project office does not constitute a fixed place PE |
DIT v. Samsung Heavy Industries Co Ltd. (Civil Appeal No. 12183 of 2016] - Taxsutra.com |
| 07/23/2020 |
Customs Update I Crowd Sourcing of Suggestions |
Instruction No. 14/2020-Customs dated 21 July 2020 |
| 07/23/2020 |
Production linked incentive scheme (PLIS) to promote domestic manufacturing of critical Key Starting Materials (KSMs)/Drug Intermediates (DIs) and Active Pharmaceutical Ingredients (APIs) |
Ministry of Chemicals and Fertilizers (Department of Pharmaceuticals) Notifications dated 21 July 2020 |
| 07/22/2020 |
Payment for database access and market research report is not taxable as ‘royalty’ under the India-Switzerland tax treaty |
IMS AG v. DCIT (ITA No. 6445/Mum/2016) - Taxsutra.com |
| 07/21/2020 |
The seconded employee does not constitute a service PE in India under the India-Singapore tax treaty |
DDIT v. Yum Restaurants (Asia) Pte. Ltd. (ITA No. 6018/Del/2012) - Taxsutra.com |
| 07/20/2020 |
Pursuant to transfer of business unit, unutilised ITC under different heads can be transferred to other states by filing ITC 02 – Authority for Advance Ruling, Andhra Pradesh |
Shilpa Medicare Limited [2020-VIL-199-AAR] |
| 07/16/2020 |
CBDT issues directives to the tax authorities to expedite various procedures relating to TDS certificates, tax evasion petition, cases pending before CIT(A) and ‘Vivaad-se-Vishwas’ Scheme |
CBDT Letters. dated 9 July 2020 |
| 07/15/2020 |
CSR donations are eligible for deduction under Section 80G of the Income-tax Act subject to specified exceptions |
Under section 135 of the Companies Act, 2013. |
| 07/14/2020 |
CBDT Circular - one-time relaxation for verification of tax-returns for AYs 2015-16 to 2019-20 which are pending due to non-filing of ITR-V Form |
CBDT Circular No. 13/2020, dated 13 July 2020 |
| 07/09/2020 |
The tax officer can pass a rectification order against an incorrect MAT credit granted to the taxpayer as it is a mistake apparent from the record |
Finserv India Pvt. Ltd. v. ACIT [ITA No. 6583/Del/2019, - AY. 2013-14] - Taxsutra.com |
| 07/08/2020 |
Rental loss from a hotel unit in US and share of loss in US LLCs are treated as ‘income from other sources', eligible for set-off against salary income in India |
Rohit Kapur V. ACIT - [ITA No. 9016/Del/2019, AY-2016-17] - Taxsutra.com |
| 07/06/2020 |
CBDT amends TDS Rules in line with various TDS related amendments introduced by the Finance Act, 2020 |
Section 194-O |
| 07/06/2020 |
Non-Resident’s explanation of cash deposit in his Non Resident Ordinary (NRO) Account acceptable in light of partial evidence |
Section 69 of the Income-tax Act, 1961 |
| 07/03/2020 |
TDS threshold will apply to each joint owner of the property separately while deducting tax on the payment of rent |
MP. Warehousing & Logistics Corporation v. ACIT (ITA No. 491/Ind/2019) - Taxsutra.com |
| 07/02/2020 |
CBDT notifies certain classes of persons for non-applicability of Section 56(2)(x) and 50CA of the Income-tax Act |
Notification No. 40/2020, dated 29 June 2020 and notification No. 42/2020, dated 30 June 2020 |
| 06/29/2020 |
Benefit of Section 10A is allowed on the enhanced income pursuant to the MAP resolution |
Dell Internaltional Services India Pvt. Ltd. v DCIT (IT(TP)A No. 879/Bang/2018, AY-2007-08) - Taxsutra.com |
| 06/29/2020 |
Clarification regarding exemptions/ deductions under the new tax regime |
Notification No. 38/2020 dated 26.06.2020 |
| 06/29/2020 |
Notification update | Period of limitation – extension of timelines |
1 Specified section under the Customs Act - Section 30, 30A, 41, 41A, 46 and 47 |
| 06/27/2020 |
CBDT issues clarifications to extend various time limits under direct tax laws |
1 CBDT Notification No. 35/2020, dated 24 June 2020 |
| 06/22/2020 |
The Division Bench of the Mumbai Tribunal refers the matter with respect to the amendment curtailing the powers of the Tribunal on stay matters to a Larger Bench |
1 Tata Education and Development Trust v. ACIT (SA Nos. 147 and 148/Mum/2020) - Taxsutra.com |
| 06/19/2020 |
Payment of guarantee fee to a group entity is not taxable under the India-Netherlands tax treaty |
1 Lease Plan India Pvt. Ltd. v, DCIT (ITA No. 6461 & 6462/del/2015)- Taxsutra.com |
| 06/18/2020 |
Supreme Court dismisses petition filed against the High Court direction to re-open the portal for TRAN-1 submission |
1 Chogori India Retail Limited [TS-375-SC-2020] |
| 06/15/2020 |
The Mumbai Tribunal issues guidelines for email communication in connection with the judicial matters |
1 Mumbai Tribunal Guidelines, Source - Taxsutra.com |
| 06/15/2020 |
GST update | Notifications and circular to facilitate trade |
N/A |
| 06/11/2020 |
GST circular update | Levy of GST on remuneration paid to employee directors |
1 Circular no. 140/10/2020 - GST dated 10 June 2020 |
| 06/09/2020 |
Interest on loan given to sister-concerns for equity infusion in group companies cannot be allowed as deduction under the Income-tax Act |
1 Abhinav International Pvt. Ltd. v, DCIT [ITA No. 489/DEL/2017 (AY 2013-14)] - Taxsutra.com |
| 06/09/2020 |
VAT Update| Implanting of prosthetics into physiology or the body of the patient construed as ‘works contract’ – Madras High Court |
1 MIOT Hospitals [2020-VIL-238-MAD] |
| 06/06/2020 |
The AAR rejects application because the arrangement was designed prima facie to avoid tax and to avail the benefit under the India-Mauritius tax treaty |
1 Tiger Global International II Holdings [2020] 116 taxmann.com 878 (AAR) |
| 06/05/2020 |
CBDT notifies income tax return forms for the Assessment Year 2020-21 |
1 Notification No. 31/2020, dated 29 May 2020 |
| 06/03/2020 |
Production linked incentive scheme (PLIS) to promote domestic manufacturing of Medical Devices |
1 INR 1 Crore is equal to INR 10 million 2 1 USD = INR 75 |
| 06/03/2020 |
In a court approved scheme, the resulting company is eligible to set-off brought forward losses transferred from the demerged company and claimed through a revised return |
1 ACIT v. Padma Logistics & Khanji Pvt. Ltd. (I.T.A No. 606/Kol/2018) - Taxsutra.com |
05/23/2020 |
Bad debt claim on account of sale of investment is allowed as business loss even though the profit from similar transaction was offered under the head capital gains during earlier years |
1 Anant Raj Ltd. v. ACIT- [ITA No. 5169 & 5677/Del/2017, AY- 2013-14]- Taxsutra.com |
05/21/2020 |
Provisions dealing with the acceptance of payment through the prescribed electronic modes are not applicable to B2B transactions |
1 CBDT Notification No. 105, dated 30 December 2019 |
05/20/2020 |
Digital content developed by an animation company is a copyrighted intangible asset and not a computer software. Therefore, eligible for depreciation at the rate of 25 per cent and not 60 per cent |
1 Pentamedia Graphics Ltd. v. DCIT- [ITA No. 1406 & 1407/Chny/2015, AY- 2007-08 & 2009-10]- Taxsutra.com |
05/18/2020 |
Principal component of lease rent paid for Set-top Boxes is not allowed as revenue expenditure. However, higher depreciation at 60 per cent is allowed on such Set-top Boxes |
1 Fastway Transmission (P) Ltd v. ACIT (ITA No.140/Chd/2019) –
Taxsutra.com |
05/15/2020 |
Shares received as a part of a family arrangement is not sham or colourable transaction to avoid tax |
1 Glebe Trading Pvt Ltd. v. ITO- [ITA No. 191/Del/2019, AY- 2014-15]- Taxsutra.com |
05/15/2020 |
The Finance Minister announces several measures under Provident Fund regime to revive the economy from the COVID-19 outbreak |
1 Press release issued by the Ministry of Finance Source - https://pib.gov.in - dated 13 May 2020 Accessed on 15 May 2020 |
05/14/2020 |
CBDT issues press release relating to reduction in TDS/TCS rates |
1 CBDT press release, dated 13 May 2020 |
05/13/2020 |
The Finance Minister announces several measures (including tax measures) to revive the economy from the Covid-19 outbreak |
1 Economy, Infrastructure, System, Vibrant Demography and Demand |
05/12/2020 |
Foreign celebrity appearing in a product launch event organised abroad for promoting business in India, constitutes business connection in India |
1 Volkswagen Finance Pvt Ltd. v. ITO [ITA No. 2195/Mum/2017, AY- 2015-16] - Taxsutra.com |
05/11/2020 |
Period of stay in India during lockdown not to be counted for determining residential status of NRIs, foreign nationals |
1 Section 6 of the Act |
05/11/2020 |
COVID 19 Relaxation on Travel |
1 For details, please refer:
https://assets.kpmg/content/dam/kpmg/in/pdf/2020/04/KPMG-Flash-News-COVID-2019-impact-on-Indian-immigration.pdf
|
05/09/2020 |
India amends Mutual Agreement Procedure Rules |
1 Notification No. 23/2020, dated 6 May 2020 |
05/08/2020 |
Supreme Court’s decision on the granting of refund when scrutiny proceedings have been initiated |
1 Vodafone Idea Ltd v. ACIT (SLP(Civil) No.1169 of 2019) – Taxsutra.com |
5/07/2020 |
GST Circular update – Clarification with respect to challenges faced by registered person in adhering to compliance requirements |
- |
5/07/2020 |
Delhi High Court directs revenue to allow filing of TRAN-1 till 30 June 2020 |
1 TS-256-HC-2020(DEL)-NT |
5/06/2020 |
India Tax Konnect |
1 The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 |
5/06/2020 |
GST notification update – Due date for filing of GST Annual return for FY 2018-19 extended till 30 September 2020 |
- |
5/05/2020 |
Kerala Amnesty scheme 2020 to settle pre-GST regime disputes |
1 Circular no. 2/2020 dated 4 April 2020 |
5/01/2020 |
Payment of non-compete fee is capital expenditure. However, depreciation is not allowed on such expenditure |
1 Hindustan Coca-Cola Beverages- [ITA No. 2699/Del/2015] |
4/30/2020 |
Though an entity is operating under the non-profit principle, it is not eligible for tax exemption in the absence of elements of mutuality – Supreme Court |
1 Yum Restaurants (Marketing) Pvt Ltd v. CIT (Civil Appeal No. 2847 of 2010) - Taxsutra.com |
4/28/2020 |
Income from technical handling services provided by a foreign airline company to the International Airlines Technical Pool is not taxable in India under the India-France tax treaty |
1 Air France v. ACIT [I.T.A No. 5008/DEL/2011 (A.Y 2004-05)] - Taxsutra.com |
4/28/2020 |
CBDT issues corrigenda to the revised circular relating to FAQs on 'Vivad se Vishwas Scheme' |
1 CBDT Circular No.7/2020, dated 4 March 2020 |
4/28/2020 |
CBDT defers reporting of GAAR and GST under the Tax Audit Report till 31 March 2021 |
1 Section 44AB of the Income-tax Act, 1961 read with Rule 6G of the Income-tax Rules, 1962 |
4/26/2020 |
Liaison office of UAE based company does not constitute a Permanent Establishment in India – Supreme Court |
1 UOI v. U.A.E. Exchange Centre (Civil Appeal No. 9775 OF 2011) – Taxsutra.com |
4/23/2020 |
CBDT issues FAQs on the ‘Vivad se Vishwas Scheme’ with certain modifications |
1 Circular No. 7 of 2020, 4 March 2020 |
4/22/2020 |
EPFO and PFRDA Notification and circular pursuant to relief measures announced by Government of India |
2 Notification – Notified in official gazette on 27 March 2020 |
4/18/2020 |
COVID 19 impact on Indian Immigration |
1 For details, please refer https://boi.gov.in/ |
4/17/2020 |
Employee linked deduction is available to the employer even if the ‘specified days’ condition is fulfilled by employees during subsequent years |
3 300 days for relevant assessment year |
4/15/2020 |
CBDT issues clarification regarding short deduction or collection of tax due to increase in rates of surcharge by the Finance (No.2) Act, 2019 |
1 CBDT Circular No. 8/2020, dated 13 April 2020 |
4/14/2020 |
Supreme Court’s decision on the re-assessment proceedings |
1 New Delhi Television Ltd v. DCIT (Civil Appeal No. 1008 of 2020) (SC) – Taxsutra.com |
4/14/2020 |
Clarification regarding adoption of concessional rates under the optional tax regime at the time of deduction of tax at source by employer |
2 Section 139(1) of the Income-tax Act,1961 |
4/14/2020 |
GST Circular update – Clarification on the challenges faced in adhering to compliance requirements |
1 Circular no. 137/07/2020-GST dated 13 April 2020 |
4/10/2020 |
Exemption from levy of customs duty and health cess on medical goods |
1 Notification no. 20/2020-Customs dated 9 April 2020 |
4/7/2020 |
CBDT issues directions relating to lower or nil TDS/TCS certificates for FY 2019-20 |
1 Under Section 195, 197 or 206C(9) of the Income-tax Act |
4/6/2020 |
Form 15G and 15H submitted for FY 2019-20 for non-deduction of tax at source are valid till 30 June 2020 |
2 Rule 31A of the Income-tax Rules, 1962 |
4/6/2020 |
Production Linked Incentive Scheme (PLIS) for Electronics Manufacturing |
1 INR 1 crore is equal to INR 10 million |
4/6/2020 |
Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) |
1 INR 1 crore is equal to INR 10 million |
4/5/2020 |
Update - GST Notifications and Circular pursuant to relief announced by the Finance Minister |
- |
4/4/2020 |
Inter corporate deposit taken from sister concern is taxable as deemed dividend. However, payment for purchase of machinery on behalf of taxpayer and issue of debentures are not taxable as deemed dividend |
1 ACIT v. Jasubhai Engineering Pvt Ltd (ITA No. 7519/Mum/2016, AY 2013-14) - Taxsutra.com |
4/3/2020 |
KPMG Tax Assemblage – January to March 2020 |
- |
4/2/2020 |
'Fully Accessible Route' for Investment by Non-residents in Government Securities |
- |
4/1/2020 |
President promulgates the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 |
1 PIB release, dated 24 March 2020 |
4/1/2020 |
CBDT issues order to provide relief with respect to lower or nil TDS/TCS certificates in view of COVID-19 |
1 Under Section 195 and 197 of the Act |
4/1/2020 |
Corporate guarantee fees are not taxable as FTS under the India-France tax treaty. Surcharge and cess cannot be levied on the tax charged on gross basis under the tax treaty |
1 JCDecaux S.A v. ACIT (ITA No. 1630/Del/2015, AY 2011-12)- Taxsutra.com |
3/27/2020 |
Update - GST Notifications and Circulars pursuant to the announcement made by the GST Council on 14 March 2020 |
Foreign Exchange Management Act, 1999 |
3/24/2020 |
Proposed amendments to the Finance Bill, 2020 |
Under Section 115BAA |
3/24/2020 |
The Finance Minister announces several relief measures in view of Covid-19 outbreak |
PIB Release, dated 24 March 2020 – Source: Press Information Bureau |
3/23/2020 |
Since the tax credit is not available, taxes paid in a foreign country are allowed as business expenditure |
irmati Software & Telecommunication Ltd v. DCIT [ITA No. 1135/AHD/2017]
– Taxsutra.com |
3/20/2020 |
Government notifies rules and forms relating to 'Vivad se Vishwas' Scheme |
Notification No. 18/2020, dated 18 March 2020 |
3/18/2020 |
Dividend earned from strategic investment is business income and brought forward business loss can be set-off against such income |
amilnadu Industrial Development Corporation v. ACIT (ITA No.
1181/Chny/2008, AY 2003-04)- Taxsutra.com |
3/16/2020 |
New India Tax Konnect |
IRCON International Ltd v. DCIT [ITA No. 977/Del/2010 (AY 2004-05)] |
3/15/2020 |
GST Council meeting update held on 14 March 2020 |
|
3/13/2020 |
Disallowance of expenditure under Section 14A does not apply to insurance business |
PCIT v. Oriental Insurance Co Ltd - [TS-148-HC-2020 (Del)] – Taxsutra.com |
3/12/2020 |
A Mauritian company does not constitute an Agency PE in India on account of distribution of a sports channel by its subsidiary in India |
CIT v. Taj TV Limited (ITA No. 1984/Bom/2017) – Taxsutra.com |
3/11/2020 |
Payments to foreign attorneys for rendering services in the field of IPRs are FTS under Section 9(1)(vii) of the Income-tax Act |
ACIT v. Sri Subhatosh Majumder (ITA No. 2006/Kol/2017, AY 2011-12) – Taxsutra.com |
3/5/2020 |
Lok Sabha passes ‘The Direct Tax Vivad se Vishwas Bill, 2020’ with certain amendments |
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3/3/2020 |
Equipment and service contracts are treated as a composite contract and from off-shore supply 35 per cent of profits are attributed to a PE in India |
Voith Paper GmbH v. DDIT (ITA No. 1077/Del/2014) – Taxsutra.com |
2/21/2020 |
Amnesty Scheme’s announced by state (Kerala and West Bengal) to settle pre-GST regime indirect tax dispute |
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2/17/2020 |
Interest on delayed payment is to be calculated on net tax liability (cash-component) – Madras High Court |
Refex Industries Limited [TS-89-HC-2020(MAD)-NT] |
2/14/2020 |
Loss on cancellation of shares pursuant to capital reduction can be treated as long-term capital loss and it can be carried forward to subsequent years |
Carestream Heath INC v. DCIT (ITA No. 826/Mum/2016) – Taxsutra.com |
2/13/2020 |
India releases synthesised text for the application of tax treaty with Luxembourg as modified by the MLI |
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2/11/2020 |
Based on the Protocol to the India-Switzerland tax treaty, FTS can be taxed on gross basis even though the Swiss company had a Service PE in India |
AGT International GmbH v. DCIT (ITA No. 7465/Mum/18) – Taxsutra |
2/10/2020 |
Non-taxable income under a tax treaty cannot be reduced from book profits for the computation of MAT |
Under Section 115JA of the Act |
2/8/2020 |
CBDT issues FAQs on the Direct Tax Vivad se Vishwas Bill, 2020 |
CBDT Circular No.7/2020, dated 4 March 2020 |
2/5/2020 |
The Direct Tax Vivad se Vishwas Bill, 2020 introduced in the Lok Sabha |
Source – Taxsutra.com |
2/4/2020 |
HS code - Import of goods under 'Others' category |
Trade notice no. 37/2019-20 dated 22 October 2019 |
2/3/2020 |
CBDT notification specifying additional electronic modes of payment in various provisions of the Income-tax Act |
Notification No. 8, 2020, dated 29 January 2020 |
1/31/2020 |
Madras High Court ruling on the applicability of Provident Fund contributions on Special allowance |
Kichha Sugar Company Limited through General Manager vs Tarai Chini Mill Majdoor Union, Uttarakhand, (2014) 4 SCC 37 |
1/31/2020 |
KPMG-Flash-News-Indian-Economic-Survey-2019-20-Key-Highlights |
Economic Survey 2019-20: Volume 2, Ministry of Finance, Accessed on 31 January 2020 |
1/31/2020 |
CPC (TDS) issues instruction for filing application for lower/nil tax deduction certificate |
Instruction No. 01/2020, 30 January 2020 |
1/29/2020 |
Tax is not required to be deducted on reimbursement of expenditure incurred in foreign countries as well as on participation fees for a conference held outside India |
Roche Diagnostics India Pvt Ltd. v. ACIT- ITA No. 1537/Mum/2016 (AY-2011-
12) - Taxsutra.com |
1/27/2020 |
Levy of IGST on Ocean Freight unconstitutional – Gujarat High Court |
Mohit Minerals Pvt. Ltd. [TS-29-HC-2020(GUJ)-NT] |
1/15/2020 |
Tax needs to be deducted at source on year-end provisions since payees are identifiable and the provisions are for ascertained liabilities |
Inter Globe Aviation Ltd. v. ACIT (ITA No. 5347/Del/2012) (ITA No.
4449/Del/2013) – Taxsutra.com |
1/15/2020 |
Appeal can be filed directly to CIT(A) against an intimation issued under Section 143(1) by Centralised Processing Centre (CPC) even if the taxpayer has not approached CPC for the rectification |
Dixit Rice Mill v. DCIT (CPC) (ITA No. 373/Agra/2018) |
1/10/2020 |
AAR ruling, holding that free supply of medical instrument and reagents to be composite supplies quashed by High Court of Kerala |
Abbott Healthcare Pvt. Ltd. [2020-VIL-08-KER] |
1/09/2020 |
KPMG Tax Highlights |
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1/08/2020 |
CBDT notifies Income-tax Return forms (ITR 1 Sahaj and ITR 4 Sugam) for the Assessment Year 2020-21 |
Notification No. 01/2020/F. No. 370142/32/2019, dated 3 January 2020 |
1/07/2020 |
Prosecution proceedings can be initiated on a company for failure to deposit tax deducted at source |
Dr. Viloo Patell and Avesthagen Limited (Writ Petition No. 47514 of 2017,
6 September 2019) – Taxsutra.com |
1/07/2020 |
Social Welfare Surcharge liability to be paid in cash and not by debiting the MEIS/SEIS scrips – Madras High Court |
TS-3-HC-2020(MAD)-CUST |
1/06/2020 |
CBDT notifies electronic modes of accepting payment for a person having business turnover of exceeding INR 50 crores |
Notification No. 105, (dated – 30 December 2019) |
1/03/2020 |
GST Notification and Circular update |
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