Entries by D Subramanyam Associates

TDS applicability for Payments made to foreign software suppliers for purchase of software

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The Supreme Court of India in the case of Engineering Analysis Centre of Excellence Pvt. Ltd. vs. CIT ([2021] 432 ITR 471 SC) delivered a landmark judgment regarding the taxation of software license payments made to foreign companies. This decision clarified whether such payments are to be treated as royalty under the Income Tax Act, […]

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    An Assessing Officer (AO) can refer the valuation of immovable property to a Valuation Officer (DVO) under the Income Tax Act, 1961, primarily in the context of capital gains taxation or income assessment. The reference is made to ascertain the Fair Market Value (FMV) or evaluate whether the valuation claimed by the assessee aligns with the provisions of […]