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