CBIC notifies Tariff Value of Palm Oil, Silver and Gold w.e.f. 16th March 2024: Check the Revisions [Read Notification]
The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, vide notification no. 22/2204-CUSTOMS ( N.T. ) has...
![Relief to Bajaj Auto Ltd: ITAT allows Deduction u/s 40(a) (i) of Income Tax Act in respect of Expenditure incurred in Foreign Currency [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/ITAT-ITAT-Mumbai-Income-tax-on-bajaj-auto-ltd-Bajaj-auto-ltd-Income-tax-act-Expenditure-incurred-in-foreign-currency-Foreign-currency-ITAT-allows-deduction-Expenditure-incurred-TAXSCAN.jpg "Relief to Bajaj Auto Ltd: ITAT allows Deduction u/s 40(a) (i) of Income Tax Act in respect of Expenditure incurred in Foreign Currency [Read Order]")
![Concealment of Foreign currency: CESTAT Remand Matter for Adjudication on Confiscation of Currency under Customs Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Concealment-of-Foreign-currency-Foreign-currency-cestat-bangalore-CESTAT-Adjudication-taxscan.jpg "Concealment of Foreign currency: CESTAT Remand Matter for Adjudication on Confiscation of Currency under Customs Act [Read Order]")
![Concealment of Foreign currency: CESTAT sets aside Penalty u/s 114 of Customs Act in Absence of Evidence other than Statement of Co-accused [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Concealment-of-Foreign-currency-site-image-1.jpg "Concealment of Foreign currency: CESTAT sets aside Penalty u/s 114 of Customs Act in Absence of Evidence other than Statement of Co-accused [Read Order]")
CBDT notifies Amendment to Rules 10TA and 10TD of Income Tax Rules, impact on Safe Harbour Rules [Read Notification]
The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Twenty-Ninth Amendment) Rules, 2023, to amend Rules 10TA and 10TD, pertaining to Safe Harbour in Transfer Pricing Regulations. ...
![CBDT notifies Amendment to Rules 10TA and 10TD of Income Tax Rules, impact on Safe Harbour Rules [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Rules-CBDT-amendment-Safe-Harbour-Rules-TAXSCAN.jpg "CBDT notifies Amendment to Rules 10TA and 10TD of Income Tax Rules, impact on Safe Harbour Rules [Read Notification]")
Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, held that foreign currency expenses on telecommunication charges and technical services outside India should not be excluded from the export...
![Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Foreign-Currency-Expenses-Telecom-charges-Technical-Services-India-included-in-Export-Turnover-Income-Tax-Act-ITAT-Tech-Mahindra-TAXSCAN.jpg "Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]")
Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, held that the appropriate LIBOR rate should be applied to determine the Arm's Length Price (ALP) for loans borrowed in foreign currency. The...
![Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Tech-Mahindra-ITAT-Directs-LIBOR-plus-80-Points-for-Interest-Rate-ALP-for-Loans-Foreign-Currency-TAXSCAN.jpg "Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]")
DGFT issues notice regarding to extend Pre and Post shipment Export Credit and Packing Credit Loan in Foreign Currency for E-Commerce Exports [Read Notice]
The Directorate General of Foreign Trade (DGFT), vide Trade Notice no. 26/2023 issued extension of Pre Shipment and Post Shipment Export Credit and Packing Credit Loan in Foreign Currency (PCFC) for...
CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. G.S.R. 607(E) notified the amendment in the Rule 26 of the Income Tax Rules, 1962 on 17th August 2023. According to the notification,...
![CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/08/CBDT-Rule-of-Rate-of-Exchange-Rate-of-Exchange-TDS-Income-Payable-in-Foreign-Currency-Income-Payable-Foreign-Currency-taxscan.jpg "CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]")