Articles by taxindiaconnect

Linklaters LLP Ruling - Impact on Taxability of Professional

taxindiaconnect 05 August 2010 at 18:08

In a recent ruling in ITA no 4896/Mumbai /03, Hon’ble Income Tax Appellate Tribunal ( ITAT Mumbai / The ITAT ) has delivered a land mark decision, in the case of Linklaters LLP Vs Income Tax Officer – International Taxation. In the rul

CFC Rules - An Indian Perspective

taxindiaconnect 30 June 2010 at 12:07

The revised discussion paper on Direct tax code (Revised DTC) proposes to introduce the “Controlled Foreign Corporation Rules” (CFC Rules) in the case where the companies are incorporated outside India and are controlled by a tax residen

Systems of Taxing income - An Overview

taxindiaconnect 03 June 2010 at 13:24

The Hon’ble Mumbai Branch of ITAT ( The ITAT Mumbai) in the case of Ashapura Minichem Limited VS Assistant Director of Income Tax Mumbai has analyzed the various concepts / principle of determining the taxation of income prevailing worldwide.

Taxability of Fees for Technical Services In India pursuant

taxindiaconnect 31 May 2010 at 13:21

Back Ground The Hon’ble Income Tax Appellate Tribunal Mumbai ( ITAT Mumbai ) in ITA no 2508/Mumbai/08 in the case of Ashapura Minichem Limited Vs Assistant Director of Income Tax, Mumbai has delivered a landmark decision on the issue of incom

Works Contracts VS Contract of sales Whether Tax Deduction

taxindiaconnect 21 May 2009 at 15:10

Works Contracts VS Contract of sales – Whether Tax Deduction is required u/s 194C.Background - Chapter XVII of Income tax Act 1961 ( The Act) provides for the collection and recovery of tax from the assessee. Deduction of Tax is one of the var

Non Compete Fees - Taxability Issues

taxindiaconnect 09 May 2009 at 18:39

Non Compete fees – Taxability issues The question whether a particular receipt has been a revenue receipt or a capital receipt has constantly been inviting the attention of tax payers, the law makers, the tax advisors and the Courts. The contr