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I-T - Subscription-based access to journals, e-magazines or databases is not FTS, unless content is specifically rendered for user's individual requirements: ITAT (See Breaking News)

TP - Revenue-neutral related party payments do not justify transfer pricing adjustment where there is no tax arbitrage: ITAT (See Breaking News)

I-T - Payments made to foreign telecom operators for data transmission services outside India are not royalty under DTAA so as to trigger withholding u/s 195: ITAT (See Breaking News)

TP - Persistent losses in three successive assessment years is sufficient ground for exclusion of comparable: ITAT (See Breaking News)

TP - Failure to first issue a draft assessment order renders final assessment order invalid & without jurisdiction: ITAT (See Breaking News)

I-T - Once established that assessee had sufficient explained foreign income & remittances are duly sourced from such income, consequent investment in immovable property cannot be deemed unexplained merely because certain payments were not fully verifiable at assessment stage: ITAT (See Breaking News)

DTAA - Payment made for offshore supply cannot be construed as FTS in absence of make available clause or no transfer of technology: ITAT (See Breaking News)

TP - Capital contribution to wholly owned subsidiary cannot be re-characterized as loan in absence of debt-like features: ITAT (See Breaking News)

I-T - Internal allocation of expenditure by one branch/head office to another branch of same enterprise cannot be disallowed u/s 40(a)(i) in absence of payment so as to trigger Sec 195: ITAT (See Breaking News)

I-T - Non-obstante clause u/s 144C(13) does not exclude operation of Sec 153 as whole: ITAT (See Breaking News)

Industrial dole-outs reach a new peak since global financial crisis: OECD (See TII Brief)

I-T - Time limit prescribed u/s 153 has to be adhered to and both Section 144C and 153 are mutually inclusive and interdependent: ITAT (See Breaking News)

I-T - Presence of notwithstanding clause in Section 144C(13) would not exclude operation of Section 153: ITAT (See Breaking News)

I-T - Receipts from sale of Renewable Energy Certificates are capital receipts and are not taxable as revenue income: ITAT (See Breaking News)

TP - Section 94B applies only when debt is from non-resident AE and no corresponding restriction exists for resident AE borrowings: ITAT (See Breaking News)

TP - Functional dissimilarity, turnover filter, and abnormal profit calls for exclusion of comparable: ITAT (See Breaking News)

TP - TPO cannot question commercial expediency once expenditure is shown to have been incurred for business purposes; assessee must nevertheless establish that services were indeed rendered: ITAT (See Breaking News)

TP - Comparables selected in previous assessment years need to be included in current year as well, in identical facts & circumstances: ITAT (See Breaking News)

TP - Adjustment on account of interest paid on NCDs cannot be made by ignoring internal CUP: ITAT (See Breaking News)

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Home >> News Brief

Overseas Citizen of India Cards
By TII News Service
Mar 18, 2015 , New Delhi

THE details of Overseas Citizen of India (OCI) cards issued during the last three years and the current year, are as under:

Year	Total number of OCI cards
2012	2,34,418
2013	2,53,632
2014	2,20,434
2015	(as on 11.03.2015) 39,863

Process of streamlining and simplification with respect to issue of OCI cards is a continuous process. Recently the promulgation of Citizenship (Amendment) Ordinance 2015 on 06.01.2015 was a big step towards this. For avoiding prevailing confusion and giving more benefits to applicants, Persons of Indian Origin (PIO) card scheme has been withdrawn with effect from 09.01.2015 and it is also notified that all existing PIO cards are deemed to be Overseas Citizen of India (OCI) cards. Simultaneously, a mechanism has been activated for replacing PIO cards with OCI cards free of cost. The applicants can apply for OCI card through MHA's website: https://passport.gov.in/oci

This was stated by the Minister of State for Home Affairs, Mr Kiren Rijiju in a written reply to a question by Mr Mullappally Ramachandran and Mr Ram Charitra Nishad in the Lok Sabha yesterday.

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