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Email exchange within firms, transactions on internal systems may face 2% tax SECTIONS Share Synopsis As India broadened the scope of equalisation levy without clarifying what exactly it means by e-commerce or online, a new set of problems is set to create fresh headaches for several Indian subsidiaries of multinationals. ThinkStock Photos A request by an automobile company to its parent located outside India for shipping back certain spare parts through an internal system, hotel booking made by an Indian CEO in a foreign location or an email exchange about developing a particular software—...

Transactions involving royalty, tech fee taxable under I-T not liable for equalisation levy: Budget SECTIONS Last Updated: Feb 01, 2021, 09:21 PM IST Share Synopsis The Union Budget clarified that transactions taxable under income-tax are not liable for equalisation levy. In the past, there have been concerns on the interpretation of the equalisation levy provisions. Getty Images NEW DELHI: The government on Monday clarified transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for con...

February 01, 2021 × To provide certainty, the Finance Ministry has clarified that transaction taxable under income-tax are not liable for equalisation levy on online players. Further, it has also clarified regarding the applicability of equalisation levy on physical/offline supply of goods and services. “The Budget has corrected the anomaly of mismatch in the effective date of income-tax exemption with applicability of EL retrospectively. So it is now clear that there will be a corresponding exemption from income-tax if equalisation levy is payable. Although, levy will not apply on receip...

ET Now launches programming line up for union budget 2021 Budget programming is set against the agenda for India's ambitions to become a $5 trillion economy 25 Jan, 2021 - 08:59 AM IST     |     By indiantelevision.com Team     Mumbai: In the run-up to Union Budget 2021, ET Now has announced an exclusive programming line-up with the theme, ‘Vaccine For Growth’. The budget programming is set against the agenda for India's ambitions to become a $5 trillion economy, as the country sees silver linings after the Covid2019 outbreak. ET Now offers its viewers a comprehensive 360-deg...

From January 25, the channel will offer its viewers a comprehensive 360-degree perspective of the prescription India seeks to grow to its full potential. Amplified with AR graphics and simplified analysis from seasoned market anchors, it brings industry leaders across sectors