In the recent case of PCIT v. Boeing India (P) Ltd. (2023) 146 taxmann.com 131 (Del.), the issue at hand was whether the foreign company, who had deputed one of its employees to look after the affairs of the Indian company, was liable for tax under Section 195 of the Act, once the nature of …
The issue of whether the salary of a non-resident seafarer, which was earned for services rendered outside of India, would be included in the total income of the assessee is a matter of legal concern. Despite the fact that the assessee mistakenly indicated that the salary had accrued in India while filing their income tax …
The Delhi High Court has ruled against the Assessee in a case involving the payment of bonuses by a private limited company to its directors. The company had paid a bonus of Rs. 1 Cr. each to its two directors, who held 50% of the equity shares each, during the assessment years 2011-12 and 2014-15. …
The Mumbai ITAT has ruled in favor of the assessee, holding that the liaison office (LO) of a Swiss company’s subsidiary in India does not qualify as a permanent establishment (PE). As a result, the addition of business income of Rs. 1.50 crore, attributed to 50% of the income from repairs and maintenance and integrated …
The Bangalore ITAT has upheld the expenses incurred by the assessee-company, Honeywell Technology Solutions (P) Ltd, for the assessment year 2011-12. The company, engaged in the business of software development and IT enabled services, incurred a total of Rs. 32.87 crore on the maintenance of computer licenses, purchase of software, legal and professional charges, and …
Leave Travel Allowance (LTA) or Leave Travel Concession (LTC) received by an individual from their employer is eligible for income-tax exemption, subject to the conditions outlined in Section 10(5) of the Income-tax Act, 1961, along with Rule 2B. This tax exemption is limited to the actual travel costs incurred by the employee. In order to …
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The ITAT in Bangalore has recently issued a judgement in the case of Biplab Adhya v. ITO, related to the assessment year 2019-20. In this case, the Assessee, an individual and a non-resident, filed their income tax return declaring an income of Rs. 3,16,670, which was subject to scrutiny. During the assessment, the Assessing Officer …
The Mumbai Income Tax Appellate Tribunal (ITAT) has recently ruled that the income received from domain name registration services provided by a Registrar authorized by the Internet Corporation for Assigned Names and Numbers (ICANN) is not taxable as royalty in India, as long as there is no intellectual property right in the form of a …
The Delhi ITAT has ruled on the issue of residency under the India-Singapore Double Taxation Avoidance Agreement (DTAA) in the case of Sameer Malhotra v. ACIT. The case involved a dispute over the taxation of the Assessee’s income from employment in India and Singapore for the Assessment Year 2015-16. The Assessee initially offered to pay …
In the recent case of Techknowledgy Interactive Partners P. Ltd. v. ITO [ITA No. 350/MUM/2009 dated January 9, 2023], the ITAT, Mumbai has pronounced its judgment on various issues related to the tax deduction at source. The Appellant, Techknowledgy Interactive Partners P. Ltd., is a company engaged in the business of trading in software and …
Continue reading “No TDS on Reimbursement to Director and Software Trading”
