The assessee has filed an appeal against the order dated 18/03/2020 passed by the Ld. CIT(A)-3, Bangalore for the assessment year 2017-18. The grounds for appeal are as follows: Grounds of Appeal: Brief facts of the case are as under: The company in question is a private limited company operating in the software publishing, consultancy …
The appeal is filed by the assessee against the order dated 26.07.2021 passed by the Commissioner of Income-tax Appeals (CIT(A)) in a faceless appeal. The grounds of appeal are as follows: The appellant reserves the right to add, alter, rescind, or modify the grounds or present further documents, facts, or evidence before or during the …
Property sale by Non-Resident Indians (NRIs) and Overseas Citizen of India (OCIs) in India is a common transaction. In this regard, NRIs often seek various tax and legal services related to the sale of their property. One of the first services NRIs look for is obtaining a Lower TDS Certificate or Nil TDS deduction Certificate …
Tax planning, tax avoidance, and tax evasion are all related to the payment of taxes, but they represent different approaches and have distinct legal implications. Tax planning refers to the process of legally reducing the amount of tax that a person or company is required to pay. Tax avoidance refers to the legal use of …
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In the assessment year 2009-10, the Assessee-Company purchased 5 cars, including Audi and BMW, and registered them in the name of the Directors. The company claimed depreciation for these cars but the Revenue denied the depreciation of 2 cars on the ground that the Assessee failed to furnish the logbooks. The Revenue had an apprehension …
In the recent case of Brinda Rama Krishna v. ITO, the Bangalore Income Tax Appellate Tribunal (ITAT) allowed the assessee’s appeal and held that the requirement to furnish Form No. 67 was directory and that Rule 128 did not provide for the disallowance of foreign tax credit (FTC) on the non-furnishing of Form No. 67 …
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The Kolkata Income Tax Appellate Tribunal (ITAT) has ruled in favor of an assessee, who had appealed against the order of the lower authorities, and held that the salary earned from a US employer is not taxable in India in view of Article 16 of the India-US Double Taxation Avoidance Agreement (DTAA). The assessee, an …
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The use of tax havens has been a controversial topic for many years, with both supporters and critics of the practice having valid arguments. Tax havens are defined as countries or territories that offer low or no taxes on certain types of income or transactions, as well as strict financial privacy laws. These features make …
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A tax haven is a country or territory that offers low or no taxes to foreign individuals or businesses. These countries typically have lenient tax laws and regulations and offer secrecy and confidentiality to those who use their services. Tax havens have been around for centuries, but have become increasingly popular in recent years due …
Transfer pricing refers to the practice of setting prices for goods and services exchanged between related parties, such as subsidiaries of multinational companies. The purpose of transfer pricing is to ensure that the prices of these transactions are similar to those that would be charged by unrelated parties in comparable transactions, in order to prevent …
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