E-PaperDta News
Can the US-India DTAA rules be simplified?
Assuming you qualify as a ‘resident and ordinarily resident’ of India and ‘non-resident’ of the US, you would qualify as ‘resident’ of India under the double taxation avoidance agreement (DTAA) between India and the US
2 min read14 Dec 2021Foreign tax credit for any tax paid in the UK can be claimed under UK-India DTAA
In case any FTC is claimed, in addition to the tax return in India you are required to file a Form 67 in India, along with the prescribed supporting documents.
4 min read19 Jun 2020Cabinet approves India-Chile double taxation avoidance treaty
The tax agreement helps tax-payers in these countries avoid being taxed twice for the same incomeThe Cabinet also approved a loan waiver of ₹4.24 lakh crore plus interest from April 1, 2019, outstanding against Sikkim Mining Corporation
1 min read27 Nov 2019Property held for more than 24 months is classified as long-term capital asset
Long-term capital gain (LTCG) is taxable at 20% (plus applicable surcharge and education cess)As you qualify as an ROR in India, your worldwide income is taxable in India and you will be required to report your foreign income in the Indian tax return
2 min read4 Nov 2019Under DTAA, Australian employer shouldn’t withhold tax from salary
Salary for services rendered in India is taxable in India, irrespective of the place of receipt of salaryIf no India income tax is withheld by your Australia-based employer, you may calculate your taxable salary income and deposit it under the advance tax mechanism
1 min read5 Aug 2019Taxability of annuity paid by Australian account depends on residential status
In your case, annuity income earned in Australia may be claimed as exempt from tax in IndiaIt is important to analyze your residential status under the India-Australia DTAA
2 min read22 Jul 2019Mauritius, Singapore investments now fully taxable for capital gains
Experts said the changes and the applicability of tax have not affected India’s ability to attract investmentsFY20 will be the first year after a two-year transition period to prevent aggressive corporate tax avoidance
1 min read1 Apr 2019US levies no inheritance tax if its citizen inherits assets in India from Indian resident
If a US citizen inherits property from a person who is not a US citizen, resident or a green card holder and also the property is not located in the US, it will not levy taxes on such inheritance
1 min read28 Aug 2018Do not publish
RIL has 10 petcoke gasifiers of which four are already in the ramp-up phase, and the remaining six are likely to be commissioned in fourth quarter of this fiscal
2 min read9 Aug 2018Govt may relax supply norms of controversial drug oxytocin
Drug advisory body proposes allowing only licensed retailers to sell oxytocin to ensure it is for human use
2 min read2 Aug 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared