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Tax & Regulatory Newsletter: December, 2020 Edition

04 December, 2020

Dear chetan,

​​Greetings!

We are pleased to attach herewith the Tax & Regulatory Newsletter – December, 2020 Edition highlighting major recent tax and regulatory developments.

Inside this issue…

Direct Tax

· Cashless exercise of stock option by Consultant yield income under head Capital Gains, not Salary

· ITAT holds that Intermediary services cannot be classified as FTS

· ITAT rules that FTS is taxable only in the year of receipt

Transfer Pricing

· ITAT characterized the taxpayer’s transaction with AE as “negotiation services” and not “deemed purchases”

· High Court approves reference made by AO to TPO (case selected by AO under limited scrutiny) where AO has complied with the procedure for making reference

Regulatory

· Update under Ministry of Electronics and Information

· Technology Update under Companies Act, 2013

· Other Regulatory

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

Tax and Regulatory Newsletter_December2020

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