US IRS releases proposed
tax regulations for new 20% income tax deduction for owners of
businesses organized as pass-through entities (introduced through US Tax
Code legislated in December 2017) for stakeholders comments within 45
days; The regulations will affect individuals, partnerships, S
corporations, trusts, and estates engaged in domestic trades or businesses; As
a measure to prevent a tax loophole for wealthy Americans, the proposed
regulations also contain an anti-avoidance rule to treat multiple trusts as a
single trust in certain cases; For the purpose of claiming deduction,
‘qualified trade or business’ is proposed to exclude Specified service
trade or business (‘SSTB’), which is any business involving the
performance of services in the fields of health, law, consulting, athletics,
financial services, brokerage services
Subscribe to:
Post Comments (Atom)
How AI is Rewriting India’s Permanent Establishment (PE) Rulebook: Key Takeaways
Traditional PE rules are under pressure. Historically, a foreign company became taxable in India only if it had a physical presen...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
The Reserve Bank of India has introduced a new framework governing export and import transactions under FEMA. These regulations are effectiv...
-
The posting had been move to another website. Please click the link below to get the access of the same. https://taxofindia.wordpress....
-
THE issues before the Bench are - Whether no penalty u/s 271(1)(c) is warranted even if assessee makes false claim of Sec 80IA benefits ...
-
The overall effective tax rate of a U.S. multinational corporation may have significant impact on the value of its stock. Therefore, it ...
-
This Tax Alert summarizes a recent judgement of the Supreme Court (SC) [1] on whether a show cause notice (SCN) under Section 74 of the ...
-
What is a Digital Signature? Answer: A digital signature authenticates electronic documents in a similar manner a handwritten signatur...
-
Vide Notification issued u/s 139(1), the CBDT has extended the ‘due date’ for filing of returns of income for the Assessment Year 2012-13 ...
-
This Tax Alert summarizes a recent ruling of the Gujarat High Court (HC)1 on the taxability of corporate guarantee provided by the Petitio...
-
While Safe Harbour focuses on standardization, an Advance Pricing Agreement (APA) provides a customized solution. An APA is a binding agr...
No comments:
Post a Comment