Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: empanelment :: due date for vat payment :: cpt :: VAT Audit :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: form 3cd :: list of goods taxed at 4%
 
 
News Headlines »
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps
 E-filing income tax return: How individuals can upload any ITR using excel utility
 Top 10 common mistakes to avoid when e-filing your income tax return

India, UAE to issue tax notification
April, 04th 2007

India and the United Arab Emirates have agreed to simultaneously issue notifications regarding the taxability of a UAE resident in India. The proposed amendments to be incorporated in the India-UAE Double Taxation Avoidance Agreement (DTAA) is expected to clear the confusion created by contradictory verdicts on the issue by various judicial bodies in India.

The finance ministry sources are tight lipped on the possible amendments. The confusion stems from the fact UAE does not levy a direct tax on its residents. Under the circumstances tax judicial bodies in India have taken contradictory stands, some favouring levying tax on UAE residents in India on the ground that they pay tax at least in one country, while others have viewed that though not taxed at present, the UAE residents are liable to be taxed in the UAE and hence treaty benefits should be accorded to them.

While finance ministry does not want to speak about the contents of the case, sources in the government said levying tax on capital gains was actively considered during negotiations.

Another concept that was discussed during the negotiations between the two tax regimes is the idea of UAE levying a Jakat, ie a nominal tax. Once UAE starts levying a Jakat tax UAE residents become a tax resident of UAE and hence entitled to the benefit of India -UAE DTAA.

The Authority for Advance Ruling (AAR), a quasi-judicial body that gives a verdict on tax liability of possible transactions in India, The Income-tax Appellate Tribunal (ITAT), and the Supreme Court have taken decisions, contradicting each other. At the same time the Income-tax department went on taxing UAE residents, compounding the already existing confusion. It is in this background the government has decided to amend the provisions of INDIA-UAE treaty to clear the air over the issue.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions