Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: empanelment :: cpt
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

I-T tribunal turns down Marubeni India's plea
August, 23rd 2006
The income tax tribunal has rejected the claim of Marubeni India to allow tax paid on behalf of the employees as incentive to be adjusted as deduction. Marubeni India, a wholly-owned subsidiary of Marubeni Corporation, Japan, is involved in international trading of items such as textiles, chemicals, energy and metal. According to the tribunal order, the tax paid has been rejected as deduction since there is no contractual agreement in writing between Marubeni India and Marubeni Corporation, Japan for paying the taxes for the employees on the salary they receive in Japan. Marubeni India waited for two years before making the tax payment. These employees were on the rolls of Marubeni Japan. However, their services were rendered to the firms Indian outfit, Marubeni India. Tax analysts contend that even if the judgement pertains to a single case, it might impact such informal arrangements entered into by other foreign companies who have posted their employees from their headquarters to their wholly-owned subsidiaries in India. The tribunal has held that the Japanese company should have deducted the tax in respect of salaries received by the employees outside India from the parent and paid to the Indian government. This was not done for the assessment period 1996-1998 and the Indian company paid the taxes later under an arrangement with the income tax authorities. The deduction has been claimed for the assessment years 1997-98 and 1998-99. In the order the tribunal has also clarified that there was no contractual liability since the incentive in the form of taxes paid on the salary is not expended out of necessity or need to support the trade but for commercial expediency of the companys business.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

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