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Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
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Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
CBDT clarifies the safe harbour regime for foreign companies selling raw diamonds in Special Notified Zones. 'Raw diamonds' must satisfy all rule 99(f) conditions simultaneously; sorted diamonds are excluded, and a Kimberley Process Certificate alone is insufficient. A foreign company declaring at least 4% profit under the regime is accepted at foreign-company tax rates with surcharge, but cannot claim deductions. Treaty-based tax credit, if any, depends on the applicable DTAA and domestic law of the home jurisdiction. The option is invalid if availed on incorrect or concealed facts. The assessee need not be incorporated in India, must itself carry on the business, TDS applies, and non-opted assessees remain taxable under the ordinary law and DTAA.
CBDT clarifies the safe harbour regime for foreign companies selling raw diamonds in Special Notified Zones. 'Raw diamonds' must satisfy all rule 99(f) conditions simultaneously; sorted diamonds are excluded, and a Kimberley Process Certificate alone is insufficient. A foreign company declaring at least 4% profit under the regime is accepted at foreign-company tax rates with surcharge, but cannot claim deductions. Treaty-based tax credit, if any, depends on the applicable DTAA and domestic law of the home jurisdiction. The option is invalid if availed on incorrect or concealed facts. The assessee need not be incorporated in India, must itself carry on the business, TDS applies, and non-opted assessees remain taxable under the ordinary law and DTAA.
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