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Tax Flash News

List of Tax Flash News

01 January 2021 to 20 January 2021




01/19/2021 Employment Stock Option Plan exercised by non-resident, if granted for employment in India, not eligible for treaty benefits Section 17(2)(vi) of the Act
01/15/2021 Training fees are not taxable as FTS in view of the MFN clause under the India-Sweden tax treaty Sandvik AB v. DCIT (ITA NO.2524/PUN/207) -
01/14/2021 CBDT notifies the Faceless Penalty Scheme, 2021    CBDT Notifications Nos. 2 & 3/2021, dated 12 January 2021
01/13/2021 TDS provisions are not applicable on the ‘provisions for expenditure’ since the payee is not identifiable and liability is not ascertained DCIT v. Sonata Information Technology Ltd (ITA No. 3244 and 3245/Mum/2018) -
01/13/2021 Notice pay recovery liable to GST at 18% – Gujarat AAR Amneal Pharmaceuticals Pvt. Ltd. [Advance Ruling no. GUJ/GAAR/R/51/2020 dated 30 July 2020]
01/12/2021 Consultancy services are not taxable as FTS in view of MFN clause under the India-Sweden tax treaty -
01/07/2021 Payments for grant of distribution rights of channels are not taxable as royalty or FTS under the India-USA tax treaty   NGC Network Asia LLC v. DDIT (ITA No. 8671/Mum/2004) -
01/04/2021 Provisions of Section 56(2)(vii) of the Income-tax Act are not applicable on receipt of bonus shares PCIT v. Dr. Ranjan Pai (ITA No. 501 of 2016) -
01/01/2021 Tax Assemblage 2020 -

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