The Income Tax Appellate Tribunal (ITAT), Chennai, recently delivered a significant ruling in the case of RKM Powergen Private Limited, which raised key issues about the treatment of share premium as “income from other sources” under Section
A key element of international tax law, transfer pricing guarantees that transactions between related parties are carried out at arm’s distance to stop profit shifting and tax evasion. Section 92CA of the Income Tax Act, 1961 describes
The issue of tax residency and the benefits under Double Taxation Avoidance Agreements (DTAA) has been a topic of growing importance in the international tax arena, particularly in cases where multinational entities claim tax treaty benefits. One
In a significant development, the Ministry of Finance issued new rules governing compounding proceedings under the Foreign Exchange Management Act (FEMA), 1999, through the Foreign Exchange (Compounding Proceedings) Rules, 2024. The notification, dated 12th September 2024, outlines the procedures for