The Firm

Show Timings:

Friday: 10.30 pm, Saturday: 11.30 am

Sunday: 9:30am & 11.00pm

CNBC TV18
Network18

Direct Tax Newsletter Jan-Apr 2015

Published on Wed, May 06,2015 | 17:01, Updated at Wed, May 06 at 17:01Source : Moneycontrol.com 

In the field of direct and international taxation in India, please find attached an ERGO from Khaitan & Co. that examines important developments in the sector during the period of January 2015 to April 2015

The ERGO encapsulates the following key points:

Rulings:

  • Supreme Court

    o    An amendment can retrospectively change the law to render a judgment ineffective;

    o    Revenue expenditure has to be allowed in the year in which it is incurred; and

    o    Supreme Court explains ‘source rule’ vis-à-vis ‘residence rule’ in international taxation, elaborates on the definition of ‘fees for technical services’.

 

  • Tribunal

    o    Remittance received from normal banking channels cannot be taxed as unexplained income in the absence of any evidence otherwise;

    o    Lower rate of tax withholding applicable even in cases where the non-resident recipient fails to furnish PAN.
Attachments : ERGO Direct Tax Newsletter May2015.pdf
 
Twitter


 
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.