Dear All With constantly evolving business dynamics, there is always a quest for something more! With the ‘customer is king’ being the motto, businesses always thrive to provide numerous services to a customer as ‘one-stop shops’. Mumbai Tribunal has held that the advantageous of the provisions of the Act or a tax treaty, can be applied independently & distinctively for each service rendered by the non-resident assessee or for each of its source of income. Suraj Nangia, Partner with inputs from Mansi Chopra, Manager contributed an article on Diverse income sources, eligible to claim benefit under DTAA or Act – ‘independently & mutually exclusively’ for Corporate Professionals Today- Taxmann.

Restaurants and hotels imposing service charge on customers in the name of tips but not passing them full to their employees could court trouble from taxmen. Central Board of Direct Taxes, the apex direct taxes body, has directed its field officials to examine balance sheet and expenditure statement of restaurants and hotels in cases where there is any under-reporting or non-reporting of additional income collected in the name of service charge. Suraj Nangia, Partner shares his views on aforementioned story for following publications: Economic Times CNBC TV 18 PTI (News flashed by PTI has been picked up 65 other news publication like Financial Express, Business Standard, moneycontrol.com, Times of India etc.)Service charge not distributed to workers by restaurants liable to income tax: CBDT – Suraj Nangia

The Income Tax Department has proposed to amend rules related to obtaining certificates by assessees for deduction of income tax at lower rates or no deduction. The Department has invited comments from various stakeholders by September 4. The amended rules are likely to be notified by mid-September.  

The Income Tax Department has proposed to amend rules related to obtaining certificates by assessees for deduction of income tax at lower rates or no deduction. The Department has invited comments from various stakeholders by September 4. The amended rules are likely to be notified by mid-September.