Category: TAX

Withholding Tax / TDS on Import of Goods by Indian Businesses under the Significant Economic Presence (SEP) Framework

Posted on 26 May 2025 by vakalattimes.com

Overview: Significant Economic Presence (SEP) The concept of Significant Economic Presence (SEP) was introduced in Indian tax law to ensure

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The Kolkata Tribunal held that interest paid on borrowed funds utilized for the acquisition of the property be treated as part of the "cost of acquisition" for the purpose of calculating Long-Term Capital Gains (LTCG)

The Kolkata Tribunal held that interest paid on borrowed funds utilized for the acquisition of the property be treated as part of the “cost of acquisition” for the purpose of calculating Long-Term Capital Gains (LTCG)

Posted on 29 January 2025 by vakalattimes.com

The Income Tax Appellate Tribunal (ITAT) decision in the case of Bani Broto Banerjee pertains to the computation of long-term

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Income-tax exemption to Annuity / Pension under Section 10(10D) – Issue Before Supreme Court of India

Posted on 26 January 2025 by vakalattimes.com

Life insurance originated as a financial safety net to protect dependents in case of the insured person’s death. Over time,

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The Supreme Court affirms the High Court’s ruling, stating that the State Electricity Board’s rate for industrial consumers should be considered the market value when calculating profits from the transfer of power to units ineligible for deduction under section 80-IA of the Act.

Posted on 19 January 202419 January 2024 by vakalattimes.com

Supreme Court in recent ruling in CIT v. M/s. Jindal Steel and Power Limited [Civil Appeal No. 13771 of 2015]

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Rent Free Accomodation

Analysis of Revised Rent-Free Accommodation Valuation Rules, 2023 as amended by Income Tax Notification No. 65/2023 dated 18th August, 2023

Posted on 22 August 202317 September 2023 by vakalattimes.com

Employers often provide residential accommodations to their employees, and under the guidelines of the Income Tax Act, 1961, when such

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Exemption from withholding of tax on rentals received by ship-leasing units set up in IFSC (Section 80LA, Section 194I)

Posted on 7 August 202312 August 2023 by vakalattimes.com

BACKGROUND As per the Income Tax Act (‘IT Act’), a unit set up in International Financial Services Centre (‘IFSC’) is

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