Tag Archives: tax

Online subscription income can be treated as business income: ITAT

The Income Tax Appellate Tribunal (ITAT) recently held that income from online subscription services can be treated as business income and not be taxed as royalty or fee for technical services in all cases. ITAT Mumbai Bench said that for … Continue reading

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Startups redefined; tax conditions amended: Govt.

The Department for Promotion of Industry and Internal Trade (“DPIIT”) through its notification no. G.S.R. 127(E) dated February 19, 2019 (“Notification”) has expanded the definition of startups and has relaxed conditions for claiming exemption under section 56(2)(viib) of the Income … Continue reading

Posted in Administrative Law, Company Law, Consumer Law, Contract Law, FDI, General Law, Income Tax Law, information technology law, Intellectual Property Law, International Law, Notifications/Publications/Circulars, Securities Law, Trade Law, TRIPS | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Benami Transactions Informants Reward Scheme, 2018 issued: Govt.

With the objective of obtaining people’s participation in the Income Tax Department’s efforts to unearth black money and to reduce tax evasion, a new reward scheme titled “Benami Transactions Informants Reward Scheme, 2018”, has been issued by the Income Tax … Continue reading

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Revised DTAA between India and Kenya notified: Govt.

The revised Double Taxation Avoidance Agreement (DTAA) between India and Kenya has been notified in the Official Gazette on 19th February, 2018. The revised DTAA will improve transparency in tax matters, help curb tax evasion and tax avoidance, remove double … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Employment Law, General Law, Income Tax Law, Intellectual Property Law, International Law, Notifications/Publications/Circulars, Trade Law, WTO/GATT | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Consolidated FDI Policy Circular: Govt.

Government of India has issued Consolidated Foreign Direct Investment Policy Circular of 2017. The circular is effective from August 28, 2017. https://goo.gl/QbV1tN

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CBDT notifies new Safe Harbour Regime: Govt.

In order to reduce transfer pricing disputes, to provide certainty to taxpayers, to align safe harbour margins with industry standards and to enlarge the scope of safe harbour transactions, the Central Board of Direct Taxes (CBDT) has notified a new … Continue reading

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Notifications & Circulars issued by RBI are of statutory nature: BHC

The Bombay High Court recently held that notifications and circulars issued by the Reserve Bank of India are of statutory nature and therefore binding on all concerned parties. The Court said that the banking companies cannot act as per their … Continue reading

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Advisory to State Govts on levy of service charge by hotels: Govt.

The Department of Consumer Affairs has issued advisory to the State Governments to sensitize the companies, hotels and restaurants in the states regarding the  provisions of the Consumer Protection Act, 1986 on unfair trade practices and also to advise the … Continue reading

Posted in Consumer Law, Contract Law, General Law, Notifications/Publications/Circulars, Service Tax, Trade Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Union Budget 2017 highlights: Govt.

Indian government presented the General Budget 2017-18 in Parliament here today. This is the first of its kind which included the Railway Budget. This year’s Union Budget also does not have Plan and Non-plan classifications and has been advanced by a … Continue reading

Posted in Administrative Law, Banking Law, Company Law, Constitution Law, Consumer Law, customs law, Employment Law, Excise Law, FDI, General Law, Income Tax Law, International Law, Labor Law, Notifications/Publications/Circulars, Real Estate, Sales Tax, Securities Law, Service Tax, WTO/GATT | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment