Monday, 26 November 2018

CBDT: India - China sign Protocol amending DTAA incorporating BEPS related changes

India - China sign a Protocol today amending DTAA incorporating BEPS related changes; Protocol incorporates changes required to implement BEPS minimum standards as well as other changes as per BEPS Action reports as agreed upon by two sides; Further, the Protocol updates the existing provisions for exchange of information to the latest international standards 

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Section 56(2)(ix): Forfeiture of Advance Money Received – A Critical Analysis

The Dual Conditions for Taxability Section 56(2)(ix) of the Income Tax Act imposes tax liability on sums received as advance or otherwise du...