The article in this issue of Direct Tax Amicus discusses the recently introduced Faceless Penalty Scheme, 2021 which has come into effect from 12 January 2021.

The article in this issue of Direct Tax Amicus discusses the recently introduced Faceless Penalty Scheme, 2021 which has come into effect from 12 January 2021.

The article in this issue of Direct Tax Amicus discusses at length the recent decision of the ITAT Delhi in the case of Giesecke & Devrient [India] Pvt Ltd. v. Addl. CIT. The decision provides a major relief to the taxpayers on the rate of tax applicable on dividends paid by an Indian company to its overseas parent.

Compulsorily Convertible Debentures (‘CCDs’) are hybrid instruments, being debt at the time of issue along with a certainty to get converted into equity.

The article in this issue of Direct Tax Amicus discusses at length the question as to whether ‘slump exchange’ is covered by the provisions of Section 50B of the Income Tax Act, 1961.

The article in this issue of Direct Tax Amicus discusses at length a peculiar issue relating to Equalisation levy on non-resident e-commerce facilitators, regarding the amount on which the such e-commerce facilitators should charge such levy.

Sub-section (1H) introduced in Section 206 of the Income-tax Act, 1961 by the Finance Act, 2020, seeks to extend the ambit of Tax Collection at Source (‘TCS’) to consideration received from sale of goods.

Doctrine of Merger is a common law doctrine which is founded on the principles of propriety in the hierarchy of justice delivery system. The underlying logic of Doctrine of Merger is that there cannot be more than one decree or an operative order governing the same subject-matter at a given point of time.

Section 115BAA of the Income Tax Act, 1961 is a reduced corporate taxation scheme introduced for domestic companies vide the Taxation Laws (Amendment) Act, 2019 (w.e.f. AY 2020-21). Once opted for, the domestic company would be taxed at 25.17% (effective tax rate inclusive of surcharge and cess) during the lifetime of the said company in respect of its total income.

After the recent introduction of exemption to Sovereign Wealth Funds in respect of certain income earned from India, the issue as to whether such entities are subject to tax, in the first place, has been reignited.