It gives me great pleasure to address you through this 100th issue of Direct Tax Amicus. I have always believed that the wealth of knowledge should be shared.

The charitable trusts/institutions enjoy substantial income-tax benefits and hence are often subject to detailed scrutiny to ensure that commercial concerns are kept outside the boundaries of the tax-exempt status.

Lately, in the context of dividend income, the applicability of MFN clause has been a subject matter of dispute between the taxpayers and the Revenue authorities. The controversy revolves around the fact that the dividend income is taxable in India at the rate of 5%...

The same income of an entity can become liable to tax in two countries, leading to harsh consequences. To provide relief, the assessees are allowed to claim credit of the tax paid in a foreign country against the tax liability in India, provided that such foreign income is also taxable under the Income Tax Act, 1961 in India. The article in this issue ...

One of the issues of wide interest and contemplation is whether a foreign company is liable to file a return in India when there is income accruing or arising in India but the same is not liable to tax, either because of an exemption under the Income...

The Income Tax Act, 1961 provides for various benefits for trusts which are established for charitable or religious purposes and are registered under the said Act.

The article in this issue of Direct Tax Amicus elaborately discusses Section 10AA of the Income Tax Act, 1961 which entitles every person being an entrepreneur of a SEZ unit to claim deduction of the profits and gains derived from export of services or articles or things manufactured or produced through such unit, subject to certain conditions.

The year 2022 has witnessed major changes in exemption regimes available to charitable institutions under the Income-tax Act, 1961. Through these changes, while the Government has seemingly taken care of one issue faced by charitable institutions, it has also given birth to a new one.

The article in this issue of Direct Tax Amicus discusses elaborately the recent decision of the Supreme Court in the case of Apex Laboratories wherein the Court has denied the claim of expenditure under Section 37 of the Income-tax Act, 1961 incurred by pharmaceutical companies on gifting of freebies to doctors.

The article in this issue of Direct Tax Amicus discusses elaborately the recently introduced taxation of virtual digital assets (VDA). It discusses how the definition of VDA in the Income-tax Act is wider than the definition of digital asset expressed by Financial Action Task Force (FATF), OECD or UK Money-Laundering Laws.