The income tax (I‑T) department has allowed profit-linked tax deductions to new Special Economic Zone (SEZ) units upon transfer of technical manpower up to 50 per cent from an existing unit — a further relaxation from 20 per cent allowed earlier in…
Category: Income Tax
India, Japan to sign advance-pricing agreement to untie tax hassles
India and Japan will soon sign an advance-pricing agreement (APA), a move that will provide certainty to investors at a time the country is looking to attract big Japanese investment. “I am happy to mention here that APA between India and Japan in a particular…
The variation between Arm’s Length Price as per Section 92C and the the price at which International & Specified Domestic Transaction undertaken has Notified by CBDT
In exercise the power conferred by the second proviso to sub-section (2) of section 92C of Income Tax Act, 1961, the Central Government hereby notified that where the variation between the arm’s length price determined under section 92C and the…
Order under section 119 of Income Tax Act, 1961 for Extension of due date for Furnishing of Return of Income
Section 44AB of the Income-tax Act, 1961 („the Act‟) read with rule 6G of the Income-tax Rules, 1962 („the Rules‟) requires certain persons to file tax audit report in Form No.3CA/Form No.3CB along with prescribed particulars in Form No.3CD. Vide…