MAT on Foreign Companies
APPLICABILITY OF MAT ON FOREIGN COMPANIES – SECTION 115JB Under the provision of the Income Tax Act, where the tax payable by the company as
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APPLICABILITY OF MAT ON FOREIGN COMPANIES – SECTION 115JB Under the provision of the Income Tax Act, where the tax payable by the company as
INCOME DEEMED TO BE RECEIVED IN INDIA – SECTION 7 Income deemed to be received in India shall include the following income : – Contribution
MEANING OF “INCOME RECEIVED OR DEEMED TO BE RECEIVED” Income received or deemed to be received in India, during the previous year is taxable in
SPECIAL PROVISIONS FOR FOREIGN COMPANY SAID TO BE RESIDENT IN INDIA – SECTION 115JH An Indian company, which is liable to file tax return in
RESIDENTIAL STATUS OF A HUF, FIRM, AOP/BOI, LOCAL AUTHORITIES AND ARTIFICIAL JURIDICAL PERSONS Residential Status of HUF – An HUF, Firm, AOP/BOI, local authorities and
RESIDENTIAL STATUS OF AN INDIVIDUAL – CRITERIA FOR DETERMINING WHETHER A PERSON IS A RESIDENT IN INDIA As per Section 6(1), an individual, is said
Residential Status Section 6 – The quantum and applicability of tax on a person, depends upon the Residential Status of such person. Under the Income
Introduction to Non-Resident Taxation Taxation of non-residents in any country, in respect of Cross – Border transactions, can be taxed based on the following criteria
FOR UNDER-REPORTING OF INCOME – SECTION 270A Section 270A provides for levy of penalty @ 50% of tax payable (including surcharge and education cess), for
FUNCTIONAL ANALYSIS FOR EVERY INTERNATIONAL TRANSACTION, THE COMPANY NEEDS TO UNDERTAKE A FUNCTIONAL ANALYSIS AS UNDER DIAGRAM 1.53 For every international transaction, Functional, Asset and
Documents and Compliances – Documentation required under the income tax act 1961 ASSESEE UNDERTAKING AN INTERNATIONAL TRANACTION Under the Indian Transfer Pricing regulations, where an
FUNCTIONS, ASSETS AND RISK (FAR) ANALYSIS DIAGRAM 1.49 Functions, Assets and Risk (‘FAR’) analysis, is the method of finding and organizing facts about the business