The Ministry of Finance has issued a Notification dated 10.01.2017 stating that all the provisions of the Agreement and Protocol between the Government of Republic of India and the Government of Republic of Cyprus for the avoidance of double taxation and the Prevention of Fiscal evasion with respect to taxes on income shall be given effect to in the Union of India with effect from the 1st day of April, 2017 being the First day of Fiscal year next following the year in which the said Agreement and Protocol entered into force
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Month: January 2017
Transfers Of Hon’ble Members Of The ITAT (January 2017)
Vide order dated 13.01.2017 passed by the Hon’ble President pursuant to the consultations with the Collegium of Income Tax Appellate Tribunal consisting of the President and two senior most Vice Presidents, the following Members of the ITAT have been transferred in the same capacity to the respective Benches, in public interest, with effect from 20th January 2017
High Court Bans Frivolous Adjournment Applications In Tax Appeals
The Bombay High Court has decided to take a stern stand to combat the menace of advocates seeking adjournment on frivolous grounds. It has made it clear that “No adjournments will be granted on the ground that the papers or counsel duly instructed are not available”.
CBDT Circular Reg TDS From Salaries U/s 192 Of The Income-Tax Act, 1961 In FY 2016-17
The CBDT has issued Circular No. 01/2017 dated 02.01.2017 in which it has explained in a comprehensive manner the obligation of taxpayers with regard to deduction of tax at source from salaries under section 192 of the Income-tax Act, 1961 for the financial year 2016-17
CBDT Directs Suspension Of Collection Of Taxes During Mutual Agreement Procedure (MAP) Under India-Sweden DTAA
The CBDT has issued Instruction No. 01/2017 dated 04.01.2007 stating that on receipt of a formal request for suspension of collection of outstanding tax from a taxpayer who is a resident of Sweden and where MAP has been invoked through the Competent Authority of Sweden, the Assessing Officers are required to keep the enforcement of collection of outstanding taxes in abeyance for a period of two years in respect of such taxpayers subject to fulfillment of certain conditions
Download Compendium Of Rulings On Transfer Pricing And International Taxation
Shri. Sunil Moti Lala, Advocate, has written a publication titled “Compendium of Transfer Pricing and International Tax Rulings”. The publication contains a summary of more than 400 important judgements of the Courts, Tribunal and AAR on issues relating to transfer pricing and international taxation pronounced in the period from January to October 2016. Every judgement is classified under a specific heading so to enable easy retrieval. The summary provided for each judgement is succinct and enables the reader to know the ratio of the judgement at a glance. The publication will prove invaluable to all taxpayers and tax professionals engaged in the practice of transfer pricing and/ or international taxation.
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