Articles by taxindiaconnect

Linklaters LLP Ruling - Impact on Taxability of Professional

Posted by taxindiaconnect 05 August 2010 15729 Views

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

Posted by taxindiaconnect 30 June 2010 20914 Views

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

Posted by taxindiaconnect 03 June 2010 11267 Views

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

Posted by taxindiaconnect 31 May 2010 20127 Views

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

Posted by taxindiaconnect 21 May 2009 36281 Views

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

Posted by taxindiaconnect 09 May 2009 43854 Views

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