Daily Archives: February 24, 2017

RBI Master Direction – Money Changing Activities (Updated as on February 22, 2017)

By | February 24, 2017

RBI/FED/2015-16/17 FED Master Direction No.3/2015-16 January 1, 2016 (Updated as on February 22, 2017) To All Authorised Persons in Foreign Exchange Madam / Dear Sir, Master Direction – Money Changing Activities In terms of Section 10 of the Foreign Exchange Management Act, 1999, Reserve Bank authorises persons designated as Authorised Persons to deal in foreign… Read More »

Category: RBI

No TDS on Payment of lease premium for leasehold rights of 90 years u/s Sec. 194-I TDS

By | February 24, 2017

Held Question : what is the nature of the payments made towards lease. Do they constitute rent so as to attract Section 194-I? The court is of opinion that clearly these payments are not “rent”. That they are annual payments cannot be doubted. Yet, part of the payment is clearly capital in nature. Clause 1… Read More »

USA – IRS- What Non-U.S. Citizen Taxpayers Must Do , Rules for Tax Withholding Agents

By | February 24, 2017

IRS Reminds International Taxpayers of Tax Obligations; Clarifies Rules for Tax Withholding Agents WASHINGTON – The Internal Revenue Service today reminded non-U.S. citizens who may have taxable income, such as international students and scholars who may be working or receiving scholarship funds, that they may have special requirements to file a U.S. tax return. The… Read More »

Category: USA