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royalty tax: Payment for imported software not royalty, rules SC

A bench of Justices BR Gavai, BV Nagarathna and Pankaj Mithal rejected a batch of review petitions filed by the Commissioner of Income Tax both on merits as well as on the grounds of delay. This means tax liability of foreign software seller without a permanent establishment in India would reduce to the 2% equalisation levy introduced via Finance Act 2020 from the 10%-15% royalty tax, which the Indian buyer has hitherto been liable to withhold.

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TDS: Tech & Taxes: I-T lens on mismatch in TDS and claims

The Income Tax (I-T) department is using a fine-tooth comb to nab discrepancies in the tax deducted at source, or TDS, by companies and the declarations by its employees in the annual I-T returns. What s underway is a line-wise reconciliation of the two sets of numbers under different heads - house rent allowance, medical insurance, outgo on home loans, tax saving investments under 80c etc.

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TDS mismatch: Your investment declaration, HRA, Section 80C investments may come under I-T department lens

India Business News: The Income Tax department is scrutinizing the discrepancies between employer-calculated and employee-claimed tax data, intensifying its scrutiny to en

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TDS Mismatch: Your Investment Declaration, HRA, Section 80C Investments May Come Under I-T Department Lens - Times Of India

TDS Mismatch: Your Investment Declaration, HRA, Section 80C Investments May Come Under I-T Department Lens - Times Of India
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Rajeshp shahRahul gargJayantilal thakkarIncome tax departmentIncome taxManaging partnerAsire consulting

DPDP: New data law may make the trip tough for travel sector

Significant data fiduciaries will also have to assess implications not just from a compliance standpoint, but the cash flow impact in tax laws as well under the law that came to effect earlier this month, experts said.

Kapil mahajanRahul gargHotels gfx ettechData protection regulation of the european unionDigital personal data protectionMini guptaGeneral data protection regulationEuropean unionAsire consultingBapsy dasturTravel techCompliance requirementsPersonal data