Other Briefings
Income Taxation for an Off-Shore Fund
By Himanshu Joshi, Accounts Associate, Dezan Shira & Associates Apr. 16 – In India, the Income Tax Act, 1961, provides special treatment for the taxation of the income of an off-shore fund. An off-shore fund is classified as a fund, institution, association or body, whether incorporated or not, established under the laws of a country […]
How are Capital Gains on Shares Taxed in India?
By Himanshu Joshi, Accounts Associate, Dezan Shira & Associates Apr. 4 – The Income Tax Act of India recognizes shares as capital assets. Therefore, any gains derived from the sale of shares are treated as capital gains, which are taxable. To determine the effective tax rate on capital gains derived from the sale of shares, […]
India Increases Customs Duties on Luxury Items
The Indian government has made some key changes in its 2013 Budget that will primarily affect the super-rich, with customs duties on imported luxury items, including high-end motor vehicles, motorcycles, yachts and other similar vehicles, being increased.
How Are Non-Residents Taxed on Royalties and Fees for Technical Services?
Mar. 29 – When a non-resident earns any income in India by way of royalties or fees for technical services, they are liable to pay the relevant taxes. The official definition of royalties and fees, as stipulated by Section 9 of the Income Tax Act 1961, can be found below.
Service Tax in India
By Himanshu Joshi, Accounts Associate, Dezan Shira & Associates Mar. 27 – Service taxes were first introduced to India through the Finance Act (1994) in the 1994-95 Union Budget, however the service tax rules have gone through various changes since their introduction. There was previously an exhaustive list of services that were subject to service tax, […]
India’s Double Taxation Avoidance Agreements
Mar. 26 – Double taxation avoidance agreements (DTAs or DTAAs) aim to prevent the same income from being taxed by two or more states, while also eliminating tax evasion and encouraging cross-border trade efficiency. DTAs prevent double taxation by allowing the tax paid in one of the two countries to be offset against tax payable […]
India Cuts Rates, Rupee Weakens
Mar. 19 – The central bank of India cut its main interest rate by 25 basis points today after its mid-quarter policy review. This is the second rate reduction this year as India attempts to jumpstart its slowing economy. The Reserve Bank of India (RBI) also said that its benchmark repo rate, the rate used […]
Dividend Distribution Tax in India
By Himanshu Joshi, Accounts Associate, Dezan Shira & Associates Mar. 14 – The provisions of Dividend Distribution Tax (DDT) are contained in section 115-O of the Income Tax Act. A domestic company, in addition to the income tax payable on its total income, shall pay tax on income distributed, declared or paid to it by […]
