S. Jaykishan

Chartered Accountants

International Taxation

Budget 2016

Budget 2016

– By Team S.Jaykishan

The Union Budget for the year 2016-17 was presented by the Finance Minister in the parliament on 29thFeb 2016.The Government has announced a series of measures to reduce litigation and rationalisation of tax proposals. The nine point agenda mentioned in the budget speech is a welcome move.The Government is set to introduce a framework for Base Erosion and Profit Shifting (BEPS), a global agreement to check tax avoidance by multinationals, making it difficult for the MNCs […] Read More >>


Budget 2015

Budget 2015

– By Team S. Jaykishan

The Union Budget for the year 2015-16 was presented by the Finance Minister in the parliament on 28th Feb 2015. This being the first full budget by the new government, expectations were running high. Significant announcements were made by the Hon’ble Finance Minister in his speech. He emphasized on curbing black money generation and coming down heavily on tax evaders. Emphasis was given on stability of tax regime and clear focus was seen on promoting […] Read More >>


TDS on Payment of commission to Non-Residents

TDS on Payment of commission to Non-Residents

– By CA Puja Borar

Residents in India acquire the services of non-resident agents for canvassing of overseas contacts, for export of their products and/or for the provision of ancillary support services etc. Commission is paid to the non-resident agents in lieu of the services rendered by them. The chargeability and deduction of tax on such payments has been a controversial subject. This article intends to discuss the issue in the light of […] Read More >>


Advanced Pricing Agreement (APA) Roll Back Provisions

Advanced Pricing Agreement (APA) Roll Back Provisions

– By CA Puja Borar

The CBDT announced Income-tax (Third Amendment) Rules, 2015 to prescribe the conditions, procedure and manner for such roll back mechanism, namely, Rules 10MA and 10RA, vide S.O. 758(E) dated 14th March, 2015. Subsequent to the notification of the rules, requests for clarification regarding certain issues have been received in the CBDT. The CBDT therefore issued FAQs vide Circular No. 10/2015 dated 10th June, 2015, clarifying certain issues.The salient features of […] Read More >>


Certification requirements u/s 195 in the light of the amendments by the Finance Act, 2015

Certification requirements u/s 195 in the light of the amendments by the Finance Act, 2015

– By CA Puja Borar

the provisions of sub-section (6) of section 195 of the Act have been amended vide the Finance Act, 2015 w.e.f 1st April, 2016 (i.e. AY 2016-17) to provide that the person responsible for paying any sum, whether chargeable to tax or not, to a non-resident, not being a company, or to a foreign company, shall be required to furnish the information of […] Read More >>


Budget 2014

Budget 2014

-By Team S.Jaykishan

The article contains an analysis of the new provisions introduced and the amendments to the existing ones by the Union Budget 2014-15 presented by the Finance Minister on July 10, 2014. The first budget in 10 years by a non-UPA government has announced a roadmap of policy initiatives that is likely to lead the economy back to 7-8% growth levels in the next 3-4 years. The government also aims to stabilize the macro-economy with lower levels of […] Read More >>


SECTION 276B

Offences u/s 276B and Compounding

By CA Puja Borar and Vivek Sethia

Section 276B of the Income Tax Act, 1961 deals with the failure to pay tax to the credit of the government and punishment under the said provision carries a rigorous imprisonment varying from three months to seven years of jail along with fine. But if there is no reasonable cause for such failure, then the application for compounding may be made. The Article seeks to discuss all the key aspects […] Read More >>


Payments to Non Residents – Grossing Up and Section 206AA

Payments to Non Residents – Grossing Up and Section 206AA

By CA Puja Borar

The provisions of Section 195 read with Section 206AA has been surrounded with increased controversies and complexities. This Article seeks to discuss the interoperability of Section 195, 195A and Section 206AA in the light of judicial pronouncements in relation to the same. It intends to analyze the various possible ways of determining the withholding tax in respect of remittance made to a non-resident beneficiary in the absence of […] Read More >>