Tax & Regulatory Newsletter: January, 2021 Edition
07 January, 2021
Dear Chetan,
Greetings!
We are pleased to attach herewith the Tax & Regulatory Newsletter – January, 2021 Edition highlighting major recent tax and regulatory developments.
Inside this issue…
Direct Tax
· ITAT: Income from supply of equipment taxable in India as Indian Subsidiary constituted Permanent Establishment of the assessee in India
· Karnataka High Court allows ESOP discount as deductible business expendituret
· Karnataka High Court: No TDS on reimbursement of expenses to non-residents
Transfer Pricing
· ITAT confirms CIT(A) rejection of recharacterization of OCD/CCD issue as ‘shareholder activity’; further discards reliance placed on Thin-capitalization Rules/ GAAR
· TAT: Compliance of Accountants Report u/s 92E is not substitute of Documentation u/s 92D.
Regulatory
· Financial Services Updates
· Updates under FEMA
· Companies Act Updates
GST
· GST Updates
· Other GST Rulings
Compliance Calendar
· Direct Tax
· GST
· Regulatory
We trust that you will find it interesting and informative.
Regards,
Nangia Andersen LLP