Description
CCH India Withholding Tax Referencer And Double Taxation Avoidance Agreements by CA Chetali Singhal and CA Ekta Gupta
In India, prior to making any remittance to a non resident, it has been made mandatory to furnish relevant information to the Authorised Dealer and hereby apply Withholding Tax under section 195. Non furnishing of information to the same, can attract penalty vide Section 271-I, inserted by Finance Act, 2015. In Order to make due compliance, there is need to do a detailed analysis of the Double Taxation Avoidance Agreements, which exists between the two countries.
India has DTAA with more than 90 countries and for every assessee or professional, to analyse and identify the relevant information is tedious. The authors intend to ease out the same by providing a guidance on the requisites of furnishing of information, its process and a referencer with apropos on withholding tax as specified in DTAA’s of all the countries.
This book contains two parts, wherein Part A discusses the statutory provisions underlying the requirement of furnishing of information and application of withholding tax on payments made to a non resident. It discusses in brief the concepts of PE, MFN Clause, Make available clause and others. Along with the exhaustive checklist for Form 15CA and Form 15CB, drafts of Non PE declaration and other related documents, the process of furnishing the same has also been discussed.
Part B of the book contains Withholding Tax Referencer. Herein DTAA in existence with each country appears as a separate chapter. The chapters contain Prologue providing the relevant dates and the notifications in relation to it as on date. The Withholding Tax Referencer following to it in a tabular format for easy and quick understanding, presents the withholding tax provisions as contained under existing DTAA for various payment categories viz Interest, Dividend, Royalty and Fees for Technical Services. Annexed therein are the relevant Articles of DTAA, which needs reference. Complete DTAA are provided for the Major trading Partners of India and the countries which have seen major FDI inflows and outflows.
It comes along with Synoptic Chart presenting the applicable Withholding tax rate for all the countries under various payment categories
It is a valuable source of information for the professionals involved in structuring International transactions for their organization or providing Advisory and Consultancy services for their clients. It saves time in compliance w.r.t. the Form 15CB/CA by referring the relevant information as provided in the relevant Article of DTAA of different Countries.
Key features:
The Withholding tax Provisions as provided in DTAAs, in a tabular format for every country
Well Crafted information on the payment categories, mainly Interest, Dividend, Royalty and Fees for Technical Services with its meaning and reference to relevant Article.
The relevant Articles of DTAAs for ready reference
Latest updated format of Form 15CA, 15CB and Form 10F
Check-list of Form 15CA and Form 15CB
Synoptic Charts presenting the applicable Withholding tax rate for all the countries under various payment categories.
About the Authors
CA Ekta Gupta, is a qualified Chartered Accountant with more than 13 years of professional experience. She is presently the Managing Editor with Wolters Kluwer India Limited (CCH), a world-wide established publishing House, handling the product line structure for online and print editions in relation to Tax (Direct, Indirect and International), Accountancy, Corporate Law and Audit. She has been associated in her professional capacity with various very large Indian and Multi-National Companies operating in diverse sectors such as Infrastructure, Hospitality, Health and Manufacturing. During these associations, she has been involved in Taxation, Finance and Accounting fields and has gained in-depth understanding of the theoretical and practical aspects of issues arising in the course of International transactions.
CA Chetali Singhal, a qualified Chartered Accountant and Masters of Commerce, has also been certified for successfully accomplishing Valuation Course from Institute of Chartered Accountants of India. She is currently an Editor with Wolters Kluwer. She has been extensively involved in the development of content on International Taxation. She has also been associated with T. K. Gupta & Associates, handling practical issues in relation to the subject.