Expert’s take ” Equalization Levy ” on Digital Transactions Published on Feb 17, 2017 Future of Digital Economy under BEPS Action 1 Presentation on ” Equalization Levy ” on Digital Transactions in Cross-Border E-Commerce (enacted in India as from April 1, 2016) by Rashmin Sanghvi, Partner, Rashmin Sanghvi Associates, India followed by Discussion led by… Read More »
Equalization levy of 6 per cent on online advertisers The Government has introduced equalization levy of 6 per cent on online advertisers. The Finance Act, 2016 had inserted a separate Chapter VIII titled ‘Equalization Levy’ in order to tap tax on income accruing to foreign e-commerce companies from India. It was provided that a person… Read More »
Disallowance in respect of non-payment of equalization levy [Section 40(a)(ib)] Key Points about Disallowance for non-payment of equalization levy- Section 40(a)(ib) Chapter VIII of the Finance Act, 2016 provides for deduction of equalization levy for certain specified services. Read Equalisation levy Salient Features The section applies to all assessees, whether corporate or non-corporate and whether resident… Read More »
Equalization Levy [ Extract from PROPOSAL FOR EQUALIZATION LEVY ON SPECIFIED TRANSACTIONS (Report of the Committee on Taxation of E-Commerce formed by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India ) February, 2016 ] Q Why Equalization Levy is being imposed ? Equalization Levy is intended to be a tax imposed… Read More »