News

The Indian IRS Board (Central Board of Direct Taxes or CBDT) has introduced the Indian Income-tax (9th Amendment) Rules, 2021 effective from 1 April 2021.

Insight from the IBFD Asia-Pacific Team

An Indian state high court set aside withholding tax certificates of 10% and directed Revenue (the Indian income tax department) to issue fresh certificates at a lower rate of 5% on dividend payments from Indian subsidiaries to a Dutch parent.

On our Tax Research Platform, you can now download a tax calculation example to Excel and compute the approximate corporate tax based on your income situation.

The Indian Income-tax Appellate Tribunal (ITAT) accepts the assessee [Gemological Institute of America Inc]'s contention that the royalty amount refunded to its Indian AE [GIA India Laboratory Pvt Ltd or GIA-India] on the basis of an advance pricing agreement (APA) signed by GIA India, cannot be

Insight from the IBFD Asia-Pacific Team

The Indian Income Tax Appellate Tribunal deleted a TP adjustment pertaining to the divestment of shares held by the assessee (Value Labs LLP) for Assessment Year 2015-16 (equivalent to Financial Year 2014-15).

The Indian Income Tax Appellate Tribunal (Appellate Tribunal) allowed the assessee’s (Morgan Stanley Mauritius Co Ltd) appeal and held income from Indian Depository Receipts (IDRs) as taxable in the hands of Mauritian investors under Indian domestic tax law, but extended the exemption under article