International Tax Knowledge Hub

Specifically, foreign shareholders who sold unlisted shares of Indian private companies after 01.04.2013 are entitled to the 10% concessional rate for long-term capital gains pursuant to section 112(1)(c)(iii) as amended by Finance Act, 2017, even where the claim is raised during assessment or appellate proceedings and not through a revised return..

Assessees making payments to non-residents must deduct tax at the DTAA rate if it is more beneficial, and Revenue authorities cannot insist on the higher Section 206AA rate in such scenarios..

The directions to delete the tax demand and drop penalty proceedings are actionable and must be implemented by the Revenue..

The assessee’s appeal was allowed, setting aside the draft assessment order..

Assessees should ensure that the factual matrix of their instruments and timing of conversion are properly documented to support such claims..

Taxpayers and TPOs alike must ensure that the selection of comparables is strictly in line with the underlying functions, assets, and risks, and that filters are applied uniformly and with adequate supporting documentation..

23,22,513/- made on this account..

Assessees engaging in secondment arrangements should ensure the employer-employee relationship is demonstrably established and maintain documentary evidence of TDS deduction under Section 192 to defend similar claims..

The TPO must allow WCA based on the average of opening and closing balances from available annual reports while determining the ALP..

Taxpayers engaged in similar fact scenarios should ensure that functional comparability between AE and non-AE segments is thoroughly documented and that internal TNMM remains the preferred method unless material differences are substantiated..