28 Apr, 2025
Foreign Company Can Offset PE Losses Against Technical Service Income: ITAT Ruling Explained When a foreign company has a Permanent Establishment (PE) in India, questions often arise about how its Indian losses and foreign earnings interact under tax laws. Recently, the Income Tax Appellate Tribunal (ITAT) has ruled that foreign companies can offset losses of […]
Read More28 Apr, 2025
Cross-border funding structures are under fresh scrutiny. This impacts Indian businesses borrowing from foreign entities. In this blog, we break it down in simple terms. Key points under Section 94B: What’s Changing with Clause 177 of the Income Tax Bill, 2025? Clause 177 proposes a sharper framework to limit debt-based tax avoidance. Major updates: Key […]
Read More28 Apr, 2025
Why RBI Urges US Companies to Invest in India: What It Means for Business India’s economy is calling global investors louder than ever. Recently, RBI Governor Sanjay Malhotra urged US companies to expand their investments in India, citing structural reforms, strong growth prospects, and a stable financial environment. This move reflects India’s ambition to become […]
Read More26 Apr, 2025
Introduction The pharmaceutical trade norms update has introduced a crucial change for exporters. The Directorate General of Foreign Trade (DGFT) has issued a new Standard Input Output Norm (SION) — A-3685 — for Doxycycline 100 mg dispersible tablets. This move is set to streamline raw material procurement and boost Indian pharmaceutical exports. What is SION […]
Read More26 Apr, 2025
Introduction The PMMSY projects in Mumbai are set to bring a major shift in India’s marine and fisheries sector. With Union Minister Rajiv Ranjan Singh inaugurating projects worth ₹255.30 crore, initiatives like the Marine Fisheries Census, TED Project, and Vessel Communication SOP are expected to benefit seven coastal states and Union Territories. Let’s break down […]
Read More26 Apr, 2025
Introduction: The confirmation of service tax demand can often catch taxpayers off-guard, especially when legal battles stretch across multiple years. A recent decision by CESTAT (reported in 2025 TAXSCAN (CESTAT) 436) offers critical lessons on how remand orders can limit appeal rights and lead to penalty confirmations. What Happened in This Case? Why Did CESTAT […]
Read More26 Apr, 2025
Introduction: Statutory reporting for international transactions is a critical compliance requirement for Indian taxpayers engaged in cross-border dealings. With the Income Tax Bill, 2025 introducing Clause 172, there are important changes compared to the earlier Section 92E of the Income-tax Act, 1961. Let’s decode the latest updates in simple terms. What Was Section 92E of […]
Read More26 Apr, 2025
India’s RRB Landscape Is Changing Fast The Finance Ministry has approved the merger of 15 Regional Rural Banks (RRBs) across 11 states, effective May 1, 2025. This major reform falls under the One State-One RRB policy, aimed at boosting operational efficiency, cutting costs, and strengthening rural banking. Post-merger, the total number of RRBs in India […]
Read More26 Apr, 2025
Introduction Harmonizing India’s secondary adjustment regime is crucial for ensuring fair international transactions. Clause 170 of the Income Tax Bill, 2025, proposes a significant shift from the existing Section 92CE of the Income-tax Act, 1961. Let’s break it down simply for Indian taxpayers and professionals. Clause 170 vs Section 92CE: Key Differences Point Section 92CE […]
Read More26 Apr, 2025
Recovery of Excess ITC by Proper Officer: Explained When an Input Service Distributor (ISD) wrongly distributes excess Input Tax Credit (ITC), Section 21 of the CGST Act, 2017 kicks in. The burden of recovery shifts not to the ISD but directly to the recipient units. However, the ground reality is far more complex. Circular No. […]
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