Wednesday , July 30, 2014 |   16:53:31 IST
 
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TII wishes All Netizens Eid Mubarak Income-tax (7th Amendment) Rules, 2014: Form No.3CA, Form No.3CB and Form No.3CD substituted (See 'Notification' in Intl Taxation) TP - Whether reimbursement paid to AEs under a cost sharing arrangement can be disallowed on ground that benefit arising there from is merely incidental and does not qualify as intra group service (See 'TII Breaking News') I-T - Whether assessee's portal having system of matching request along with computer and internal access to clients constitute integrated commercial equipment which performs complex functions of processing request, providing information and facilitates transaction of purchase and sale of foreign exchange by matching demand and supply (See 'TII Breaking News') Lok Sabha passes Finance Bill with many amendments (See ' Finance Acts') I-T - Whether when assessee raises gross bills on foreign clients in convertible foreign exchange and therefrom makes payment to foreign clients after netting off, assessee is entitled to claim deduction u/s 10A on gross amount (See 'Breaking News') I-T - Whether term 'assessment' should be understood in different sections with reference to context in which it is used - Whether expression "relief in return" employed in sub-clause (b) of Explanation 2 section 147 would bring in its ambit, an assessee who got relief by virtue of non-making an assessment or by non - determining its tax liability (See 'Breaking News') Finance Bill - Notice of Amendment - capital gains on Mutual Funds - New tax regime not to apply for transactions done till July 10, 2014 Settlement Commission & Advance Ruling Authority to entertain even reassessment cases Wind energy - depreciation benefit extended + minor amendment in TP with respect to more than one price determined by most appropriate method Govt likely to propose many amendments to Finance Bill relating to more than one price in TP cases TP - Whether though sales promotion expenses will be considered as AMP but expenses in connection with sales, being sales specific are outside scope of such expenses - Whether when an assessee has claimed actual expenses on account of provision of warranty (See 'TII Breaking News') Government Approves 19 Proposals of Foreign Direct Investment (FDI) Amounting to about Rs. 2326.72 Crore (See 'FDI Approved' in FDI) TP - Whether without any analysis on creditworthiness of AE, TPO can arrive at a particular credit rating of AE which was extended corporate guarantee by assessee - Whether domestic yield can be compared with loans in US and rates charged there (See 'TII Breaking News')
 
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TII BREAKING NEWS
 
TP - Whether reimbursement paid to AEs under a cost sharing arrangement can be disallowed on ground that benefit arising there from is merely incidental ....
I-T - Whether assessee's portal having system of matching request along with computer and internal access to clients constitute integrated commercial ....
I-T - Whether when assessee raises gross bills on foreign clients in convertible foreign exchange and therefrom makes payment to foreign clients after netting off, ....
I-T - Whether term 'assessment' should be understood in different sections with reference to context in which it is used - Whether expression "relief in ....
< More News >
 
TII EXCLUSIVE Jul 01, 2014
 
Letters -2
By Laurence E Lipsher

Well, well, well.....it is truly the end of the 48th tax season of my life. Last night I did the final 5 FinCEN 114 efile reports that are now a permanent fixture of an American tax filer's life. I'm sure I did some of those I filed incorrectly. Most of the client-prepared forms ....

 
TII EDIT Jul 21, 2014
 
Achhe din for residents only?
By D P Sengupta

TO a large extent, non-resident taxation depends on enforceability. Payments once gone out of India may be gone forever unless there is a mechanism for capturing the tax element in such payments. In that view of the matter, in case of payments to non-residents, failure to deduct tax at source in respect of ....

 
TII SPECIAL Jul 23, 2014
 
Importance of 'other income' under Article 21 of OECD and UN model tax conventions
By A J Majumdar

Chapter I of the OECD and UN Models of Tax Convention defines the scope of the respective conventions. While article 1 in the Chapter deals with 'persons covered', article 2 deals with 'taxes covered' and provides as under:

"1. This Convention shall apply to taxes on income and on capital ....

 
TII BRIEF
 
New Delhi, Jul 23, 2014
OECD Standard for automatic exchange of information not designed with poor nations in mind...
Paris, Jul 22, 2014
OECD releases full version of global standard for auto exchange of information...
New Delhi, Jul 21, 2014
ADB makes guarded observations about Japan's tax reforms in ADO supplement ...
New Delhi, Jul 18, 2014
Govt not to legalise black money: FM...
Paris, Jul 18, 2014
OECD okays 2014 update to Model Tax Convention...
 
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