Income Tax

A E- commerce operator is required to deduct TDS @ 1% while making payment to E-commerce participants on the gross amount of sale of goods/services or both.

Salary payable by Indian government to Indian citizen for services rendered outside India – under section 9(1)(iii).

Section 115BBA provides the tax rates in respect of certain incomes received by non-resident sportsman, sports associations and entertainers.

Section 115BB provides the tax rates applicable on casual income.

Section 115AD provides the tax rates applicable on the income of Foreign Institutional Investors from securities or capital gains arising from such transfer.

Section 115A provides the tax rates applicable on interest, dividends, royalty and fees for technical services in the case of Non-resident/foreign companies.

Companies opting to pay income tax as per section 115BAA can take advantage of the concessional tax rates.

Domestic company who is opting for section 115BAA is required to file form 10-IC on or before the due date to file ITR as per section 139 (1)

Companies opting to pay income tax as per section 115BAB can take advantage of the concessional tax rates.

A Firm/AOP/BOI/Local authorities or AJP is said to be a resident in India if the Control and Management of its affairs are wholly or partly situated within India during the relevant previous year.