Q : Whether salary Income of NRI accrued outside India from foreign Shiping company and received in NRE Account can be taxed in India ? Salary income of an NRI could not be subjected to Indian taxes where service agreement was with a foreign shipping company to act as an employee and said company, in… Read More »
Held To fall within the realm and ambit of right to use copyright in the computer software programme, the aforesaid rights must be given and if the said rights are not given then, there is no copyright in the computer programme or software. As noted by the CIT (A), under the terms of the agreement… Read More »
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th June, 2016 INCOME-TAX [Notification No. 55 /2016/F. No. 142/26/2015-TPL] S.O. 2226(E).—In exercise of the powers conferred by section 9 and section 285A, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct… Read More »
F No 142/26/2015-TPL F No 142/26/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* New Delhi, Dated 23rd May, 2016 Subject: Manner of determination of fair market value and reporting requirement for Indian concern-Indirect transfer provisions-section 9(1) of the Income-tax Act, 1961-Draft Rules-reg. Under section 9 of the… Read More »
Income deemed to accrue or arise in India. Following Explanations 6 and 7 shall be inserted after Explanation 5 in clause (i) of sub-section (1) of section 9 by the Finance Act, 2015, w.e.f. 1-4-2016 : Explanation 6.—For the purposes of this clause, it is hereby declared that— (a) the share or interest, referred to in… Read More »
Definition of ‘royalty’ could not be applied to purchase of software by assessee which did not involve any commercial exploitation thereof Latest Books on TDS IN THE ITAT BANGALORE BENCH ‘C’ Deputy Commissioner of Income-tax v. WS Atking India (P.) Ltd. N.V. VASUDEVAN, JUDICIAL MEMBER AND ABRAHAM P. GEORGE, ACCOUNTANT MEMBER IT APPEAL NO. 1467… Read More »