Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: VAT RATES :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: TDS :: empanelment :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« News Headlines »
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
 Filing of GST return

Foreign NGOs may face fringe benefit tax
September, 29th 2006
The Indian Authority for Advance Rulings (AAR) has decided in a recent case that a foreign non-governmental organisation (NGO) is liable to pay fringe benefit tax (FBT) in India. The FBT will be payable even if there is no income tax payable on its total income in the country. NGOs by their nature are non-profit organisations and do not generate any income as defined by the Income Tax Act (ITA). AARs ruling means that a non-resident, whose income is not taxable under the ITA, is liable to pay FBT in India. Any NGO, which has not obtained tax exempt status in India, would be liable to pay FBT, irrespective of whether it is set up as a liaison office or a branch or a chapter in India and is tax exempt in its home country. While the ruling is specific to one case, it will set precedent for similar entities in the country. Foreign NGOs will have to seek a specific tax exempt status from the commissioner of income tax and will have to be registered with them. The registration requires the NGO to meet certain criteria like 85% of their corpus needs to be invested in development activities, etc, Archana Rajaram, associate at legal firm Nishith Desai & Associates, said. AAR has given a ruling in a case presented by the Population Council, a US NGO which works in the area of family planning and population control. The NGO enjoys tax exemption in the US under the Internal Revenue Code. The NGO claims that its activities in India fall within the approved objects for the purpose of granting exemption in the US. It has a regional office and a country head office India. Population Inc does not have exemption from income tax in India under Sections 10 (23C) or 12AA of the ITA. The NGO voluntarily sought a ruling from the AAR on whether it is required to pay FBT in India. The ruling seems to be discriminating against foreign NGOs and seems unfair in nature, if Indian NGOs are exempt then foreign NGOs should also be treated similarly, T P Ostwal, senior chartered accountant, said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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