Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Significant economic presence: digital and data-driven activities can create taxable business connection in India. The Finance Bill, 2020 proposes broad amendments to the Income-tax Act and related fiscal laws: it expands source taxation by treating significant ... Summary
Significant economic presence: digital and data-driven activities can create taxable business connection in India.
The Finance Bill, 2020 proposes broad amendments to the Income-tax Act and related fiscal laws: it expands source taxation by treating significant economic presence as business connection for non-residents (including targeted ads, sale of data and data-driven sales), revises residence criteria and deemed residency, creates new registration and approval regimes for trusts and charitable entities, introduces alternate tax options for individuals/HUFs and cooperative societies, tightens compliance by moving numerous accountant certification and audit-report deadlines to the specified date, and enacts new withholding and collection obligations (notably for e-commerce operators), while also amending customs, GST and tariff rules and introducing penalties and information-statement mechanisms.
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