Double Taxation
India, Oman agree to amend tax treaty to promote greater cooperation
DTAA is signed between nations to avoid double taxation and prevent fiscal evasion as far as taxes on income is concerned
 "India, Oman agree to amend tax treaty to promote greater cooperation")
CBDT grandfathers treaty benefits on PPTs with Mauritius, 2 more nations
The income tax department has come out with a fresh guidance note on applicability of Principal Purpose Test (PPT) for claiming tax treaty benefits, which will apply prospectively. The Central Board of Direct Taxes (CBDT) in its guidance note on PPT also clarified that the grandfathering provisions under the India-Cyprus DTAA, India-Mauritius DTAA and India-Singapore DTAA would remain outside the purview of the newly issued PPT provision. India has made certain treaty-specific bilateral commitments in the form of grandfathering provisions in the DTAAs signed with Singapore, Mauritius and Cyprus. "These commitments, as reflected in the bilaterally agreed object and purpose of such grandfathering provisions, are not intended to interact with the PPT provision as such," the CBDT said. The grandfathering provision in these treaties would be governed by the specific provisions specified in the respective DTAAs. Deloitte India, Partner, Rohinton Sidhwa said the circular clarifies variou
 "CBDT grandfathers treaty benefits on PPTs with Mauritius, 2 more nations")
What can India gain from the trade pact with Australia?
The Australian Parliament gave its assent to a free trade agreement with India, and amended the Double Taxation Avoidance Agreement. Let's understand how it will benefit India's foreign trade
 "What can India gain from the trade pact with Australia?")
Double taxation relief for Indian IT companies operating in Australia
Both the trade deal and changes to domestic Australian tax laws will come into effect once the Australian Parliament ratifies the deal after the general elections due in May are completed in Australia
 "Double taxation relief for Indian IT companies operating in Australia")
India's inclusion in global bond indices faces taxation hurdle
Fund managers want govt to freeze taxes on sovereign debt papers
 "India's inclusion in global bond indices faces taxation hurdle")
NRIs, foreigners stuck in India to give info on double taxation by Mar 31
Govt on Wednesday said NRIs and foreign nationals stuck in India due to COVID and facing double taxation can submit the details to the income tax department by March 31
 "NRIs, foreigners stuck in India to give info on double taxation by Mar 31")
Pandemic relief: UP govt exempts industrial areas from double taxation
Earlier, industries falling under the jurisdiction of UPSIDA, were subject to tax/user charges levied by the nodal industrial development agency and the local district panchayat
 "Pandemic relief: UP govt exempts industrial areas from double taxation")
From NHAI negligence to 'PE' clarified again, here're the key court orders
The Supreme Court dismissed the appeal of the tax authorities observing the two-men unit in Mumbai was only auxiliary office doing no core business
 "From NHAI negligence to 'PE' clarified again, here're the key court orders")
Digital strike: US may take trade action against India for Google tax
India imposed the tax in 2016 on all overseas e-commerce transactions originating in India at an additional 2%.
 "Digital strike: US may take trade action against India for Google tax")
New taxation rules to hit dividends received from foreign subsidiaries
Rewriting of norms may result in double taxation, say experts
 "New taxation rules to hit dividends received from foreign subsidiaries")
Delhi HC issues notice to GST Council, others on double taxation issue
The matter would come up for hearing on March 8
 "Delhi HC issues notice to GST Council, others on double taxation issue")
