Category: CA Final International Tax Book

DEEMED INTEREST INCOME  – SECTION 9(1)(v) OF INCOME TAX ACT Interest payable to the non- resident , could be from the following Payors : –

 WHAT ARE OFFSHORE FUNDS Offshore funds  are mutual fund schemes, which invest in equities of a region or country, or fixed income securities in international

EXEMPT INCOME OF NON-RESIDENTS – The tax exemptions available to various incomes of a non-resident under Section 10 of the Income Tax Act are discussed

DEDUCTION IN RESPECT OF HEAD OFFICE EXPENSES OF NON-RESIDENTS – SECTION 44C OF INCOME TAX ACT In case of a foreign company, which operates directly

FOREIGN COMPANIES ENGAGED IN THE BUSINESS OF CIVIL CONSTRUCTION ETC. IN CERTAIN TURNKEY POWER PROJECTS – SECTION 44BBB OF INCOME TAX ACT SECTION 44BBB OF

SPECIAL PROVISION FOR COMPUTING PROFITS AND GAINS OF THE BUSINESS OF OPERATION OF AIRCRAFT IN THE CASE OF NON-RESIDENTS  – SECTION 44BBA OF INCOME TAX

ASSESSMENT AND COLLECTION OF TAX OF NON-RESIDENT ENGAGED IN SHIPPING BUSINESS – SECTION 172 OF INCOME TAX ACT SECTION 172 OF INCOME TAX ACT –

SHIPPING BUSINESS OF NON-RESIDENTS – SECTION 44B OF INCOME TAX ACT Who can opt for presumptive tax provisions ? Any non-resident engaged in business of

Section 45 of Income Tax Act provides that any profits or gains, which arise from the transfer of a capital asset , which is effected

NO EXEMPTION U/S 10 ON URBAN AGRICULTURAL LAND – EXPLANATION 1 TO SECTION 2(1A) While agricultural income is exempt from income-tax under Section 10(1) ,

SHORT TERM AND LONG-TERM CAPITAL ASSET For the purpose of, computing capital gains, a Capital Asset is divided into two categories : – Short term