Saturday , February 24, 2018 |   23:13:19 IST
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NEWS FLASH
 
DTAA - Overseas remittances of 'pure reimbursement of expenses' between overseas AEs having no profit element, does not enshrines TDS liability: ITAT CBDT notifies India-Kenya DTAA (See Notifications' in Intl Taxation) TP - Auditor's report u/s 92E cannot be rejected in case of specified domestic transaction relating to 'sale of electricity', merely by presuming that captive power plant is not saleable to State Electricity Board: ITAT (See 'Breaking News') TP - Entity engaged in providing high-end services involving specialized knowledge & domain expertise, cannot be compared to captive service providers: ITAT (See 'Breaking News') TP - No separate adjustment should be made for interest on outstanding receivables from AEs, if working capital adjustment had been undertaken: ITAT (See 'Breaking News') TP - Tolerance range of (+/-)5% is applicable to arm's length price and not arm's length profitability: ITAT (See 'Breaking News') TP - Refund claimed in earlier AY can be adjusted against duty demand raised in current AY, for purposes of making TP adjustment: ITAT (See 'Breaking News') Changes in the business connection provision (See 'Edit') India-Kenya DTAA revised; tax rates reduced (See 'TII Brief') TP - Even if final assessment order is passed in contravention of statutory provision, then only course left for assessee to seek for remedy is to approach appropriate forum: ITAT (See 'Breaking News') Bank Frauds - Taxpayers tired to pay for 'New Civilisation'! (See 'THE COB(WEB)' in TIOL) I-T - No liason office of any foreign entity will constitute PE, if such office does not carries on any activity which is either incidental or auxilliary in nature: HC (See 'Breaking News') TP - No TP adjustment is warranted on shareholders corporate guarantee provided to the bank of AE, for purpose of business operations: ITAT (See 'Breaking News') I-T - Commission paid to non resident agents cannot be deemed as income accrued or arisen in India, warranting any TDS obligation u/s 195: ITAT (See 'Breaking News') I-T - Service tax collected on behalf of customers to be deposited to government's account, shall not form part of gross receipts for purpose of determining presumptive income: ITAT (See 'Breaking News')
 
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TII BREAKING NEWS
 
DTAA - Overseas remittances of 'pure reimbursement of expenses' between overseas AEs having no profit element, does not enshrines TDS liability: ITAT
TP - Auditor's report u/s 92E cannot be rejected in case of specified domestic transaction relating to 'sale of electricity', merely by presuming that captive
TP - Entity engaged in providing high-end services involving specialized knowledge & domain expertise, cannot be compared to captive service providers: ITAT
TP - No separate adjustment should be made for interest on outstanding receivables from AEs, if working capital adjustment had been undertaken: ITAT
< More News >
 
TII SPECIAL Jan 27, 2018
 
Trump Tax - in User-friendly English - for (primarily) Americans abroad as well as anyone else required to file a U.S. Tax Return
By Laurence E. Lipsher

I wrote a November article for Offshore Investments……….taxhaiku'd through out…..
O.K. I was wrong.
Bi-partisanship? Bull bleep!
G.O.P tax bill.

That, my friends, is the only haiku I will do this essay. True, I toyed with the idea of doing limericks this time but got seriously hung up without a printable

 
TII EDIT Feb 23, 2018
 
Changes in the business connection provision
By D P Sengupta

UNDER the Indian Constitution, no tax can be levied or collected without the authority of law. This position holds good both for taxation of Indian residents as also taxation of non-residents. Very broadly speaking, under the Indian Income Tax, taxation of cross border business depends on the existence of a 'business connection' of

 
BULLETIN BOARD
 
New Delhi, Feb 23, 2018
CBDT notifies India-Kenya DTAA ...
New Delhi, Feb 07, 2018
Calling for applications for posting at Under Secretary Level in Foreign Tax & Tax Researc...
New Delhi, Jan 12, 2018
Calling for applications for posting at Under Secretary Level in Foreign Tax & Tax Researc...
New Delhi, Jan 08, 2018
Govt notifies India-Brazil Protocol ...
< More News >
 
TII BRIEF
 
New Delhi, Feb 22, 2018
India-Kenya DTAA revised; tax rates reduced...
Paris, Feb 20, 2018
Global bodies call for mobilising domestic taxes to meet SDGs ...
New Delhi, Feb 17, 2018
India, Iran sign Protocol to amend DTAA...
Paris, Feb 15, 2018
Tax can tackle both - greenhouse gas & air pollution: OECD ...
Paris, Feb 14, 2018
Africa loses USD 50 bn annually: OECD ...
 
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