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New Framework notified by RBI on External Commercial Borrowings

Background As part of ongoing efforts...
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Treatment of ‘prepayment penalty’ incurred for foreclosure of existing loan and availing new loan/borrowings

Facts of the Case: The company avails...
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Exception from online filing of application for lower or no withholding of tax in case of NRIs and Resident applicants

Background Section 197 and 206C(9) of...
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Withdrawal of Circular No. 10/2018 dated 31.12.2018 on applicability of section 56(2)(viia) of the Income-tax Act, 1961

Background Section 56(2)(viia) of the...
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Important changes through Notifications issued on December 31, 2018

1.Compulsive Reverse Charge Mechanism (R...
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Exemption of dividend cannot be denied merely because payer Co. didn’t pay tax on distribution of dividends

Facts of the case: The Assessee was...
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Capital gain on sale of assets contributed by partners as capital contribution would be taxable in the hands of the firm only

Facts of the case: Assessee was a p...
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Bill to Ship to mode of supply may involve more than three parties

Facts of the case: A (Applicand, he mad...
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Time limit preseribed for filing Country by Country Report (CbCR) by Constituent Entity

In order to standardize the documentaion...
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Recommendations made during 31st GST Council Meeting

Extension of Due Dates Form Due ...
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Addition of income cannot be made by AO merely on the grounds of taking tax credit by the Assessee

Facts The Assessee was following cash s...
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Support services provided by Back Offices in India to MNCs Abroad does not

Clarified by The Authority for Advance R...
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What is the nature of High seas sale under GST? Clarified by Authority for Advance Ruling

As per the recent AAR Ruling, following ...
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