Withholding Tax Referencer and Double Taxation Avoidance Agreements
About the book
Under the Indian Income Tax Act, prior to making any remittance in the nature of royalties, fees for technical services, dividends etc to a non-resident, it is mandatory to apply Withholding Tax under section 195 where such payments are taxable in India. It is also necessary to furnish relevant information of such payments to the Designated Authority in the prescribed Forms and non-furnishing of the same, would attract penalty vide Section 271-I, inserted by Finance Act, 2015. In Order to make due compliance with the tax withholding provisions of the Income Tax Act, a detailed analysis of provisions of the Double Taxation Avoidance Agreement (DTAA) with the relevant country would be essential, as the taxpayers can then take advantage of the more beneficial treaty provisions.
India has DTAAs with 91 countries and many of them have been amended from time to time. The Authors have attempted to simplify the job of a professionals by analyzing all the 91 DTAAs and bringing out the relevant information in a concise and reader friendly format.
This book has two parts. Part 1 discusses the statutory provisions underlying the requirement of furnishing of information and application of withholding tax on payments made to a non-resident. It discusses in brief the concepts of PE, MFN Clause, Make available clause and others. Along with the exhaustive checklist for Form 15CA and Form 15CB, drafts of Non PE declaration and other related documents, the process of furnishing the same has also been discussed.Part 2 of the book contains Withholding Tax Referencer and extracts of relevant articles of DTAA in existence for all the 91 countries. Information on each country is covered under a separate chapter. The chapters contain Prologue providing the relevant dates and the notifications in relation to it as on date.
The Withholding Tax Referencer following Prologue in a tabular format for easy and quick understanding, presents the withholding tax provisions as contained under existing DTAA for various payment categories viz Interest, Dividend, Royalty and Fees for Technical Services or Fees for Included Services. Annexed therein are the relevant Articles of DTAA, which need reference. Full text of the DTAAs are provided for the Major trading Partners of India and the countries which have seen major FDI inflows and outflows.
The Book comes along with a Synoptic Chart presenting the applicable Withholding tax rate for all the 91 countries under various payment categories
It is a valuable source of information for the professionals involved in structuring International transactions for their organization or providing Advisory and Consultancy services for their clients. It saves time in compliance w.r.t. the Form 15CB/CA by referring to the relevant information as provided in the relevant Article of DTAA of different Countries.
Key Features of the book:
- •The Withholding tax Provisions as provided in DTAAs, in a tabular format for every country
- •Well Crafted information on the payment categories, mainly Interest, Dividend, Royalty and Fees for Technical Services with its meaning and reference to relevant Article.
- •The relevant Articles of DTAAs for ready reference
- •Latest updated format of Form 15CA, 15CB and Form 10F
- •Check-list of Form 15CA and Form 15CB
- •Synoptic Charts presenting the applicable Withholding tax rate for all the countries under various payment categories.
About the Author:
CA Ekta Gupta, is a qualified Chartered Accountant with more than 13 years of professional experience. She is presently the Managing Editor with Wolters Kluwer India Limited (CCH), a world-wide established publishing House, handling the product line structure for online and print editions in relation to Tax (Direct, Indirect and International), Accountancy, Corporate Law and Audit. She has been associated in her professional capacity with various very large Indian and Multi National Companies operating in diverse sectors such as Infrastructure, Hospitality, Health and Manufacturing. During these associations, she has been involved in Taxation, Finance and Accounting fields and has gained in-depth understanding of the theoretical and practical aspects of issues arising in the course of International transactions.
CA Chetali Singhal, a qualified Chartered Accountant and Masters of Commerce, has also been certified for successfully accomplishing Valuation Course from Institute of Chartered Accountants of India. She is currently an Editor with Wolters Kluwer. She has been extensively involved in the development of content on International Taxation. She has also been associated with T. K. Gupta & Associates, handling practical issues in relation to the subject.
- : Withholding Tax Referencer and Double Taxation Avoidance Agreements
- : Ca Ekta Gupta And Ca Chetali Singhal
- : 9789351295358
- : Hardbound
- : 01.11.2015
- : 1900