<h2>Introduction:</h2>
<p>The Central Board of Indirect Taxes and Customs (CBIC) has issued Instruction No. 05/2023-GST on 13th December 2023, addressing the ramifications of the Hon&rsquo;ble Supreme Court's landmark judgment dated 19th May 2022 in the case of CC, CE &amp; ST, Bangalore (Adj.) etc. Vs. Northern Operating Systems Private Limited (NOS). This article delves into the key instructions provided by CBIC in relation to Section 74(1) of the Central Goods and Services Tax Act, 2017 (CGST Act).</p>
<p>&nbsp;</p>
<h2>1. Background of the NOS Judgment:</h2>
<p>The focal point of CBIC's instruction lies in the aftermath of the NOS case, where the Supreme Court examined the nature of secondment of employees by overseas entities to Indian firms and its Service Tax implications. The judgment emphasized a nuanced examination based on the unique characteristics of each arrangement, rejecting a one-size-fits-all approach.</p>
<p>&nbsp;</p>
<h2>2. Nuances in Tax Implications:</h2>
<p>2.1 The CBIC, after a meticulous examination, notes that the NOS judgment, while primarily focusing on Service Tax, has implications in the realm of GST. The court's emphasis on a nuanced examination implies that each case of secondment must be scrutinized based on its specific terms and conditions.</p>
<p>&nbsp;</p>
<p>2.2 Citing the Hon'ble Supreme Court's observation in the Commissioner of Central Excise, Mumbai Vs. M/s Fiat India(P) Ltd, the CBIC underscores the need to avoid mechanical application of legal principles. Each case, as the court emphasized, depends on its unique facts, and a broad resemblance to another case is not decisive.</p>
<p>&nbsp;</p>
<p>2.3 Considering the diverse nature of secondment arrangements, the CBIC clarifies that the NOS judgment should not be mechanically applied to all cases. Instead, the tax implications must be determined based on the distinct factual matrix, including the terms of the contract between the overseas company and the Indian entity.</p>
<p>&nbsp;</p>
<h2>3. Caution Against Mechanical Invocation of Section 74(1):</h2>
<p>3.1 The CBIC addresses concerns raised by the industry regarding the mechanical invocation of the extended period of limitation under Section 74(1) of the CGST Act in cases involving secondment.</p>
<p>&nbsp;</p>
<p>3.2 Section 74(1) reads, "Where it appears to the proper officer that any tax has not been paid or short paid or erroneously refunded or where input tax credit has been wrongly availed or utilized by reason of fraud, or any wilful-misstatement or suppression of facts to evade tax..."</p>
<p>&nbsp;</p>
<p>3.3 The CBIC clarifies that Section 74(1) can only be invoked if there is evidence of fraud, wilful misstatement, or suppression of facts to evade tax. Mere non-payment of GST without these elements cannot trigger Section 74(1). The CBIC emphasizes that the provision should only be invoked when there is concrete evidence of fraudulent activities, and such evidence should be included in the show cause notice.</p>
<p>&nbsp;</p>
<h2>4. Recommendations for Investigation and Show Cause Notices:</h2>
<p>In light of the above, the CBIC advises field formations to consider the unique aspects of each case involving secondment. Investigation should focus on the distinct factual matrix, terms of contracts, and evidence of fraud or wilful misstatement before invoking Section 74(1). The CBIC emphasizes the need for a meticulous examination, aligning with the principles laid down by the Hon&rsquo;ble Supreme Court in the NOS case.</p>
<p>&nbsp;</p>
<h2>Conclusion:</h2>
<p>CBIC's Instruction No. 05/2023-GST serves as a guiding beacon for GST investigations concerning secondment in the post-NOS judgment era. The nuanced approach advocated by the CBIC aligns with the Supreme Court's emphasis on a case-specific examination. It also provides a cautionary note against the mechanical application of Section 74(1), ensuring that its invocation is warranted only in cases involving fraud or wilful misstatement. Field formations are encouraged to undertake thorough investigations, taking into account the unique facets of each secondment arrangement.</p>

Decoding CBIC Instructions on Section 74(1) Post NOS Judgment

<div id="a7ae8315-8031-4e92-80e9-21b46cdc6ac2" class="d-flex ui-accordion-header-active ui-state-active">
<div class="up-date" tabindex="0">Instructions by Income Tax Department Regarding Inoperative of PAN of Non Resident.</div>
<div class="up-date" tabindex="0">&nbsp;</div>
<div class="up-date" tabindex="0"><strong>***</strong></div>
<div class="up-date" tabindex="0"><strong>21-Jul-2023</strong></div>
</div>
<div class="d-flex gry-ft border-black" tabindex="0">
<p>If any NRI&rsquo;s PAN is still inoperative, he/she is requested to intimate his/her NRI status along with supporting documents to respective jurisdictional Assessing Officer.</p>
<p>List of supporting documents required for making PAN operative for NRI&rsquo;s is as under:</p>
<p>A.&nbsp;&nbsp; &nbsp;Copy of PAN Card; and<br />B.&nbsp;&nbsp; &nbsp;Any of the following documents:<br />a.&nbsp;&nbsp; &nbsp;Copy of passport showing stay confirming NRI, or<br />b.&nbsp;&nbsp; &nbsp;Copy of Person of Indian Origin (PIO) card issued by Government of India, or<br />c.&nbsp;&nbsp; &nbsp;Copy of Overseas Citizen of India (OCI) card issued by Government of India, or<br />d.&nbsp;&nbsp; &nbsp;Copy of other national or citizenship Identification Number or Taxpayer Identification Number duly attested by &ldquo;Apostille&rdquo; (in respect of countries which are signatories to the Hague Convention of 1961) or by the Indian Embassy or High Commission or Consulate in the country where the applicant is located or authorized officials of overseas branches of Scheduled Banks registered in India.</p>
<p>Further for information regarding Jurisdictional Assessing Officer (JAO), please visit e-filing home page and go to tab &ldquo;know your AO&rdquo; to find out your JAO.</p>
<div class="up-date" tabindex="0"><strong>***</strong></div>
</div>

Inoperative PAN of Non Resident-Steps to Make it Operative

Inoperative PAN of Non Resident

<div class="group w-full text-gray-800 dark:text-gray-100 border-b border-black/10 dark:border-gray-900/50 bg-gray-50 dark:bg-[#444654]">
<div class="flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-[38rem] xl:max-w-3xl md:py-6 lg:px-0 m-auto">
<div class="relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]">
<div class="flex flex-grow flex-col gap-3">
<div class="min-h-[20px] flex items-start overflow-x-auto whitespace-pre-wrap break-words flex-col gap-4">
<div class="markdown prose w-full break-words dark:prose-invert dark">
<p>Non-resident Indians (NRIs) and Overseas Citizenship of India (OCIs) are facing a significant issue with their PAN cards becoming inoperative, despite being exempted from linking PAN with Aadhaar. This development has caused widespread concern among affected individuals, especially in terms of the consequences they might face. Fortunately, the Income-tax Department has taken steps to address these concerns and has shared helpful clarifications on its Twitter handle.</p>
<p>The first clarification pertains to NRIs. The Income Tax Department has mapped the residential status of NRIs based on their filed income tax returns (ITR) in the last three assessment years. Alternatively, if NRIs have informed their Jurisdictional Assessing Officer (JAO) about their residential status, it has also been taken into account. However, if any of these criteria are not met, PAN cards have been rendered inoperative. To rectify this situation, NRIs with inoperative PAN cards are requested to inform their respective JAOs about their current residential status and submit supporting documents for an update in the PAN database.</p>
<p>Similarly, PAN cards of OCIs and foreign citizens who may have applied for PAN under the resident status but have not corrected or updated their residential status with the JAO or filed ITR in the last three assessment years have been rendered inoperative. To resolve this issue, OCIs and foreign citizens are urged to inform their respective JAOs about their current residential status and provide supporting documents for an update in the PAN database.</p>
<p>It's important to note that an inoperative PAN is different from an inactive PAN. Despite PAN becoming inoperative, individuals can still file their Income Tax Returns (ITR). However, there are a couple of consequences associated with inoperative PANs. Firstly, pending refunds and the corresponding interest on such refunds will not be issued to individuals with inoperative PANs. Additionally, tax deductions or collections will be required to be made at a higher rate for inoperative PANs, in accordance with section 206AA/206CC.</p>
<p>Staying informed about these clarifications and following the guidelines provided by the Income-tax Department is crucial for NRIs and OCIs to ensure a smooth income tax filing process. By updating their residential status with the Jurisdictional Assessing Officer (JAO) and providing the necessary documents, individuals can rectify the inoperative PAN situation and avoid potential complications.</p>
</div>
</div>
</div>
<div class="flex justify-between lg:block">
<div class="text-gray-400 flex self-end lg:self-center justify-center mt-2 gap-2 md:gap-3 lg:gap-1 lg:absolute lg:top-0 lg:translate-x-full lg:right-0 lg:mt-0 lg:pl-2 visible"><button class="flex ml-auto gap-2 rounded-md p-1 hover:bg-gray-100 hover:text-gray-700 dark:text-gray-400 dark:hover:bg-gray-700 dark:hover:text-gray-200 disabled:dark:hover:text-gray-400"></button>
<div class="flex gap-1">&nbsp;</div>
</div>
</div>
</div>
</div>
</div>

Clarifications on Inoperative PANs for NRIs and OCIs-Clarifications provided by Income Tax on Twitter Handle

Clarifications on Inoperative PANs for NRIs and OCIs

<h2>Introduction to Disclosure of Foreign Income and Assets in Income Tax Returns:</h2>
<p>In today's globalized world, individuals and businesses often have financial interests and assets located outside their home country. It is important to understand the legal obligations surrounding the disclosure of foreign assets, as failure to comply can have severe consequences. This article explores the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (in short Black Money Act, 2015), and highlights the significance of disclosing foreign assets for transparency and accountability.</p>
<h2>The Importance of Disclosing Foreign Assets:</h2>
<p>The Finance Act of 2012 made it mandatory to disclose foreign assets in income tax returns. This requirement aims to promote transparency and prevent tax evasion. Non-disclosure of foreign assets can lead to prosecution as upheld by various High Courts. Disclosing foreign assets is not only a legal obligation but also crucial for ensuring transparency and accountability in financial matters. By complying with the disclosure requirements, individuals and entities can avoid penalties and legal implications.</p>
<h2>Section 139 of Income tax Act-Foundation step to make Disclosure:</h2>
<p>The proviso to Section 139 of the Income Tax Act imposes an important disclosure mandate on residents who hold assets or have financial interests outside India. Even if their total income is below the threshold of Rs. 2,50,000 (for individuals), residents must furnish a return before the due date if they meet any of the following conditions:</p>
<ul>
<li><strong>Holding assets or financial interests abroad: </strong>If a resident holds any asset, including financial interests in any entity, located outside India, or has signing authority in any account located abroad, they are required to disclose these details by filing a return within the specified timeline.</li>
<li><strong>Beneficiary of foreign assets: </strong>The disclosure obligation also applies to individuals who are beneficiaries of assets located outside India, including financial interests in entities abroad. It is important for beneficiaries to fulfill their disclosure obligations to maintain compliance with the law.</li>
</ul>
<h2>Scope of Foreign Income and Assets:</h2>
<p>The scope of foreign assets encompasses a wide range of assets held outside the jurisdiction of India. Under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, the term "undisclosed asset located outside India" is defined to include various types of assets. Here is an overview of the scope of foreign assets:</p>
<ul>
<li><strong>Income from a foreign source: </strong>Any income generated from a source located outside India that has not been disclosed in the income tax return falls within the scope of foreign assets.</li>
<li><strong>Unreported income: </strong>If an individual is required to furnish an income tax return under Section 139 of the Income-tax Act, but fails to do so within the specified time frame (as per Explanation 2 to sub-section (1), sub-section (4), or sub-section (5) of Section 139), the income from a foreign source that remains unreported is considered a foreign asset.</li>
<li><strong>Value of undisclosed assets: </strong>The scope of foreign assets also includes the value of assets located outside India that have not been disclosed. This includes movable assets (such as bank accounts, investments, and valuable possessions), immovable assets (such as properties and real estate), intangible assets (such as intellectual property rights and patents), and any other asset held abroad and even a signing authority is also included.</li>
</ul>
<p>It is important to note that the scope of foreign assets is comprehensive and encompasses a wide range of holdings and income streams situated outside India. Compliance with the disclosure requirements is crucial to avoid penalties and legal implications under the Black Money Act.</p>
<h2>Understanding the Consequences of Non-Disclosure:</h2>
<p>Non-disclosure of foreign assets can have severe consequences. The Black Money Act of 2015 addresses undisclosed foreign income and assets. Section 4(1) of the Act defines the scope of undisclosed foreign income and assets, including unreported income, unfiled returns, and the value of undisclosed assets located outside India.</p>
<p>To avoid penalties and lethal consequences, it is important to note that while fully explained foreign assets acquired from tax-paid income are not considered undisclosed foreign assets, their non-disclosure in previous income tax returns can result in a penalty of Rs. 10 lakhs under Section 43 of the Act.</p>
<h2>Concluding Remark on Disclosure of Foreign Income and Assets:</h2>
<p>The disclosure of foreign assets is a significant legal obligation that individuals and entities must fulfill to maintain transparency and compliance with the law. Non-disclosure can lead to severe consequences under the Black Money Act, including penalties and tax implications. By understanding the provisions of the Act and the scope of undisclosed foreign income and assets, individuals can take the necessary steps to comply with the disclosure requirements.</p>
<h2>Contact us:</h2>
<p>If you have any question or need assistance regarding the disclosure of foreign assets, compliance with tax regulations, or any other related matter, our team of experts is here to help. Feel free to <a href="https://harchandani.in/contact">contact us.</a></p>
<p><strong>Note: This article is for informational purposes only and should not be considered as legal or financial advice.</strong></p>

The Importance of Disclosing Foreign Assets in Income Tax Returns: A Comprehensive Guide

The Importance of Disclosing Foreign Assets in Income Tax Returns ITR

<h2>Introduction:</h2>
<p>Double Taxation Avoidance Agreements (DTAA) play a significant role in international taxation, aiming to prevent the double taxation of income earned by taxpayers in two different countries. However, the requirement of a Tax Residency Certificate (TRC) for claiming DTAA benefits has become a subject of legal complexities and practical challenges. In this article, we will delve into the various aspects surrounding TRCs, including their differentiation from other registration certificates, the legal issues surrounding Section 90(4) of the Income Tax Act, the absence of TRC provisions in India's DTAA agreements, and the implications for businesses.</p>
<h2>TRC vs. Incorporation Certificate and Other Registration Certificates:</h2>
<p>It is crucial to clarify that a TRC cannot be equated with an incorporation certificate or any other registration certificates. The provision stated in Section 90(4) of the Income Tax Act explicitly mandates the production of a TRC, along with other relevant information (in Form 10F), for claiming DTAA benefits. While obtaining a TRC can be challenging, especially for individuals, it is vital to comply with the law's mandate.</p>
<h2>Legal Issues Surrounding Section 90(4):</h2>
<p>One of the key legal issues arises from the potential contradiction between Section 90(4) and Section 90(2) of the Income Tax Act, as well as various judgments of the High Court, including the Supreme Court. These judgments establish that, in case of conflict between the Income Tax Act and the provisions of the DTAA, the provisions of the DTAA should prevail. This raises questions about the absolute necessity of a TRC as mandated by Section 90(4).</p>
<h2>Skaps Industries India Pvt Ltd vs ITO, International Taxation, Ahmedabad ITAT</h2>
<p>In this case, the ITAT held that Section 90(2) of the Income Tax Act, 1961 in India provides a unique and unqualified "treaty override" provision. This means that regardless of the provisions in the Income Tax Act, if a person is covered by an agreement under Section 90(1), the provisions of the Act will only apply to the extent that they are more beneficial to the taxpayer. The Act cannot impose a greater burden on the taxpayer than what is specified in the applicable tax treaty.</p>
<p>However, the only limitation to this unqualified treaty override provision is that the provisions of Chapter X-A, which deals with the General Anti Avoidance Rules, will apply to the taxpayer even if they are not beneficial. This exception is stated in Section 90(2A), which is the only provision in the Income Tax Act, 1961 that starts with a non-obstante clause in relation to Section 90(2). Therefore, it is the only restriction on the superiority of tax treaty provisions over the provisions of the Indian Income Tax Act, 1961.</p>
<p>ITAT also observe that:</p>
<blockquote>
<p><em>8. In the light of our this analysis, when we turn to Section 90(4), as indeed other sub sections of Section 90, we find that these provisions do not start with a obstante clause vis-&agrave;vis Section 90(2) and, therefore, these sub sections cannot be construed as limitation to, or rider to, somewhat unqualified treaty override stipulated in Section 90(2). Whatever interpretation one assigns to this sub section, essentially the fundamental approach has to be that this sub section will be applicable only when the same are more beneficial to the assessee vis-&agrave;-vis the provisions of the applicable tax treaty; that principle of treaty override, as set out in Section 90(2), remains unaffected by these provisions. As we hold so, we make it clear that whether the same position will also apply with respect to Explanations to Section 90 or not is still an open question, uninfluenced by these discussions, as Explanations to Section 90 may perhaps not have the same legal connotations as the sub sections to Section 90. We leave it that for the time being.</em></p>
</blockquote>
<p>The above decision was also cited and relied by Hyderabad ITAT in the case of Sreenivasa Reddy Cheemalamarri [TS-158-ITAT-2020(HYD)].</p>
<h2>A Unilateral Attempt to Deny Treaty Benefits:</h2>
<p>Furthermore, Section 90(4) can be seen as a unilateral attempt to deny treaty benefits, potentially conflicting with international law and the principles of reciprocity and mutual benefits that underpin international tax treaties. The timing of the insertion of Section 90(4) through the Finance Act 2012, which came after the conclusion of various DTAA agreements, adds to the complexity and requires careful evaluation.</p>
<p>In the realm of international law, the position on unilateral modification of treaties is guided by the principle of <em>pacta sunt servanda</em>, which means that treaties must be observed and complied with in good faith by all parties involved. This principle serves as the cornerstone of the international legal system and promotes stability, predictability, and trust among nations.</p>
<p>Under customary international law, a treaty can only be modified or terminated by the consent of all parties involved. This principle of consent ensures that the rights and obligations established by a treaty are protected and that no party can unilaterally alter or disregard the provisions of a treaty without the agreement of others.</p>
<p>Unilateral modification of a treaty by one party without the consent of the other parties is generally considered a violation of the treaty and may be viewed as a breach of international law. Unilateral modifications can undermine the integrity of the treaty and erode the trust and confidence among the parties.</p>
<h2>Non-Inclusion of Mandatory TRC Requirement in India's DTAA Agreements:</h2>
<p>A noteworthy observation is that none of India's DTAA agreements with other countries contain provisions specifically requiring the mandatory submission of a TRC for availing DTAA benefits. If the TRC were universally mandated, it would necessitate countries to enter into agreements clarifying that benefits can only be availed upon producing a TRC. However, the absence of such provisions in the DTAA agreements raises questions about the absolute necessity of a TRC for claiming DTAA benefits.</p>
<h2>Navigating the Way Forward:</h2>
<p>Considering the legal complexities and practical challenges surrounding TRCs, businesses are advised to make diligent efforts to obtain TRCs from payees. However, in cases where obtaining a TRC is not feasible, businesses must carefully assess the facts and circumstances of each case. This assessment should consider the legal issues discussed earlier, the absence of TRC provisions in DTAA agreements, and the potential risks and consequences of proceeding without a TRC.</p>
<p>It is essential to weigh the available legal avenues and evaluate the potential litigations that may arise from deviating from the TRC requirement. Seeking professional guidance is recommended to ensure compliance with prevailing regulations while balancing the practical challenges faced in obtaining TRCs.</p>
<h2>Conclusion:</h2>
<p>The requirement of a TRC for claiming DTAA benefits presents businesses with a complex and intricate landscape to navigate. While the legal issues surrounding Section 90(4) and the absence of explicit TRC provisions in India's DTAA agreements raise valid concerns about the essential nature of a TRC, businesses must still endeavor to obtain TRCs whenever possible. In cases where TRCs cannot be procured, a meticulous evaluation of the specific circumstances, coupled with expert guidance, is crucial to making informed decisions that ensure compliance and mitigate potential litigations.</p>

Navigating the Complexities of Tax Residency Certificate (TRC) for DTAA Benefits

Navigating the Complexities of Tax Residency Certificate TRC for DTAA

<h2>Overview Tax Residency Certificate (TRC)</h2>
<p>A tax residency certificate (TRC) is a document that confirms an individual's or a company's residency status for tax purposes. The certificate is issued by the tax authorities of the country where the taxpayer is considered a tax resident, based on the local tax laws and regulations.</p>
<p>The purpose of a TRC is to avoid double taxation on income earned in a foreign country. Double taxation occurs when two or more countries levy taxes on the same income. To prevent this, many countries have entered into Double Taxation Avoidance Agreements (DTAAs) with each other. These agreements typically provide for reduced withholding tax rates or NIL withholding on certain types of income, such as dividends, interest, royalties or business income.</p>
<p>To take advantage of these reduced tax rates, taxpayers must provide proof of their residency status in the form of a tax residency certificate. The certificate is usually valid for one fiscal year.</p>
<p>To obtain a tax residency certificate, the taxpayer needs to provide evidence of their residency status, such as proof of their address, employment, and income sources. The application process and requirements may vary depending on the country's tax laws and regulations.</p>
<h2>Regulations for TRC in UAE</h2>
<p>In UAE, the TRC is categorised in two broad catagoreis viz: (1) Natural persons &amp; (2) Legal persons</p>
<h2>Eligibility Criteria Natural Persons</h2>
<p>The applicant must have been a resident of the UAE for at least 180 days. Also an annual lease agreement officially documented by the competent authorities, such as EJARI in Dubai, municipalities in other Emirates and free zone authorities must be attached to the application.</p>
<h2>Eligibility Criteria Legal / Judicial Persons</h2>
<p>In order to be eligible to apply for a TRC, the legal person must have been established for a period of at least one year. Financial accounts must be audited or prepared by an accredited audit firm and attached with other required documents to the application. The report must be certified and stamped by the audit firm. The audited financial report to be attached to the application must cover the year for which the certificate is requested. If the certificate is requested for the present year, the audit report must be covering the past year.</p>
<p><strong>(Note: Offshore companies are not allowed to apply for the service because they are not listed in the Double Taxation Avoidance agreements.)</strong></p>
<p>However, the Cabinet Decision which is effective from 1 Mar 2023 provides that a juridical person shall be considered a Tax Resident in the State in either of the following cases:</p>
<p><em>1. It was incorporated, formed or recognised in accordance with the legislation in force in the State, and that does not include the branch that is registered by a foreign juridical person in the State. </em></p>
<p><em>2. It is considered a Tax Resident in accordance with the Tax Law in force in the State.</em></p>
<h2>TRC v/s Citizenship</h2>
<p>It's important to note that tax residency is not the same as citizenship. A person may be a citizen of one country but a tax resident of another. Factors that determine tax residency status vary by country but generally include the number of days spent in the country, the person's permanent home, and the location of their economic interests.</p>
<p>Overall, a tax residency certificate is a useful tool for avoiding double taxation and accessing tax benefits under DTAAs. It's important for taxpayers to understand the local tax laws and regulations and maintain proper documentation to obtain and keep their tax residency certificate.</p>
<h2>Benefits of Having TRC</h2>
<p>TRC is now a days part of legal framework of many contries. In India, section 90(4) of the Income tax Act, 1961 mandatorily requires TRC for availing the benefits of the Double Tax Avoidance Agreements (DTAAs). Such benefits are:</p>
<ul>
<li>Avoidance of double taxation</li>
<li>Reduced or NIL withholding tax rates</li>
<li>Access to tax benefits under the DTAA</li>
<li>Considered as an evidence for the purpose of determing resident country</li>
</ul>
<h2>Connect with Us</h2>
<p>In case if you want to apply for the TRC in UAE or India, then connect with us. Our contact details are as follows:</p>
<p>Mail: <a href="mailto:info@harchandani.in">info@harchandani.in</a></p>
<p>Mobile: +91 9909880111</p>
<p>WhatsApp: +91 9909880111</p>

How to Apply for Tax Residency Certificate (TRC) of the United Arab Emirates (UAE)

Apply for Tax Residency Certificate (TRC) of UAE

<h2>Search on 23 Registered Unrecognized Political Parties (RUPP)</h2>
<p>The search u/s 132 of the Act was conducted upon various Registered Unrecognized Political Parties (RUPP) during the month of September 2022 at Ahmedabad and various other locations. In this search, a total of 23 Registered Unrecognized Political Parties (RUPP) were detected and it was alleged that those parties were involved in providing bogus donation entries.</p>
<p>The raids were conducted on the recommendation of the Election Commission, which recently struck off 87 entities from its list of RUPP after they were found non-existent during physical verification.</p>
<h2>Documents Seized form Registered Unrecognized Political Parties (RUPP)</h2>
<p>During the course of search action, large number of incriminating documents related to bogus donation receipts, diaries containing details of commission charged, loose papers containing vital information and WhatsApp chats in the mobile phones of the office bearers of the RUPPs and their key handlers confirming the allegations, were found. Documentary and digital evidences collected during the course of search action, were confronted with the key persons of the group and subsequently seized.</p>
<p>Further, during the course of pre as well as post search it has been established that these RUPPs were involved in the activity of providing accommodation entry by way of bogus donation. Thereafter, on the basis of bank account statements of these RUPPs, beneficiaries/donors who had availed deduction for the bogus donation made to these RUPPs have been identified.</p>
<h2>Reassessment Proceedings on the Beneficiaries / Donors</h2>
<p>Based on such information, the Income Tax Department is set to issue a notices under section 148A of Act will initiate the reassessment proceedings on the beneficiaries.</p>
<p>Section 147 of the Income Tax Act empower the Income Tax Authorities to assess or reassess the income which escaped assessment.</p>
<h2>Section 147 of the Income Tax Act:</h2>
<p><em>If any income chargeable to tax, in the case of an assessee, has escaped assessment for any assessment year, the Assessing Officer may, subject to the provisions of sections 148 to 153, assess or reassess such income or recompute the loss or the depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year). </em></p>
<p><em>Explanation.&mdash;For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, irrespective of the fact that the provisions of section 148A have not been complied with.]</em></p>
<p>&nbsp;</p>
<h2>Section 148A of the Income Tax Act:</h2>
<p>[Conducting inquiry, providing opportunity before issue of notice under section 148.</p>
<p><em>148A. The Assessing Officer shall, before issuing any notice under section 148,&mdash;</em></p>
<p><em>(a)&nbsp; conduct any enquiry, if required, with the prior approval of specified authority, with respect to the information which suggests that the income chargeable to tax has escaped assessment;</em></p>
<p><em>(b)&nbsp; provide an opportunity of being heard to the assessee, 1[***] by serving upon him a notice to show cause within such time, as may be specified in the notice, being not less than seven days and but not exceeding thirty days from the date on which such notice is issued, or such time, as may be extended by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year and results of enquiry conducted, if any, as per clause (a);</em></p>
<p><em>(c)&nbsp; consider the reply of assessee furnished, if any, in response to the show-cause notice referred to in clause (b);</em></p>
<p><em>(d)&nbsp; decide, on the basis of material available on record including reply of the assessee, whether or not it is a fit case to issue a notice under section 148, by passing an order, with the prior approval of specified authority, within one month from the end of the month in which the reply referred to in clause (c) is received by him, or where no such reply is furnished, within one month from the end of the month in which time or extended time allowed to furnish a reply as per clause (b) expires:</em></p>
<p><em>Provided that the provisions of this section shall not apply in a case where,&mdash;</em></p>
<p><em>(a)&nbsp; a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A in the case of the assessee on or after the 1st day of April, 2021; or</em></p>
<p><em>(b)&nbsp; the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner that any money, bullion, jewellery or other valuable article or thing, seized in a search under section 132 or requisitioned under section 132A, in the case of any other person on or after the 1st day of April, 2021, belongs to the assessee; or</em></p>
<p><em>(c)&nbsp; the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner that any books of account or documents, seized in a search under section 132 or requisitioned under section 132A, in case of any other person on or after the 1st day of April, 2021, pertains or pertain to, or any information contained therein, 2[relate to, the assessee; or</em></p>
<p><em>(d)&nbsp; the Assessing Officer has received any information under the scheme notified under section 135A pertaining to income chargeable to tax escaping assessment for any assessment year in the case of the assessee.]</em></p>
<p><em>Explanation.&mdash;For the purposes of this section, specified authority means the specified authority referred to in section 151.]</em></p>
<h2>Whether Notices u/s 148A can be issued to the Donors of the Political Parties?</h2>
<p>Section 147 read with section 148 to 153 empower the assessing officer to initiate the reassessment proceedings to assess or reassess the income which is escaped assessment. The entire reassessment scheme was revamped in the year 2021 and various litigations were surrounded post enactment of new reassessment scheme. So, depending on the circumstances of each case, objections can be raised before the Income Tax Department for challenging the reassessment proceedings.</p>
<h2>Consequences of the Reassessment?</h2>
<p>Consequent to reassessment proceedings, the Donation u/s 80GGC may be disallowed and charged to the tax at applicable tax rate or applicable slab. The applicable interest u/s 234B, 234C will also be charged and the interest received (if any) u/s 244A will also be recovered from the Assessee.</p>
<h2><strong>Defense and arguments to contest alleged bogus donation case</strong></h2>
<p>Since the AO may propose to initiate the reassessment proceedings. In response thereto, the assessee, apart from factual grounds, may also raise legal grounds to defend his case. As submitted above, the new regime of reassessment is not free from litigation. The assessee may raise the grounds challenging the reassessment proceedings as well as the assessee may also argue based on cash trail, validity of the notice u/s 148, incriminating material recovered from the political parties, statement recorded, cross examination of the witnesses etc. Apart from these, the assessee may raise further grounds to defend his case.</p>
<h2>Whether Penalty will be imposed on Donations made to Registered Unrecognized Political Parties (RUPP)</h2>
<p>Section 270A empowers the assessing officer to impose a penalty on under reporting of income and mis-reporting of income. The rate of penalty in the case of under reporting is imposed at 50% of the tax and the rate of penalty in the case of mis-reporting of the income is 200% of the tax.</p>

Income Tax Department will issue a Notice Under Section 148A to the Donors of the Registered Unrecognized Political Parties (RUPP)

IT notice us 148A to bogus political donation to 23 political parties

<h2><strong>Abstract: </strong></h2>
<p>In this article, the author has attempted to analyze the provisions of the new scheme of reassessment in the light of judgement of CIT vs. Jet Airways (I) Limited (2011) 331 ITR 236 (Bom.) and other judgement (which infact were relevant for the old regime of the reassessment) in which it was concluded that once additions have not been sustained/made on the issues forming part of notice issued under section 148 of the Income Tax Act, 1961, no further addition can be made to the issues found subsequently in the course of proceedings under section 147 of the Income Tax Act, 1961. Now, it is important to analyze that whether the ratio / interpretation laid down in those judgements still are relevant in the new regime of reassessment as introduced by the Finance Act, 2021.</p>
<h2><strong>Introduction of Old and New Reassessment Proceedings: </strong></h2>
<p>The erstwhile provision of the section 147 provides that &ldquo;If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of sections 148 to 153, assess or reassess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this section&hellip;&rdquo;</p>
<p>Various High Courts and Tribunal had concluded that the AO has reason to believe, that any income chargeable to tax has escaped assessment, for any assessment year, and it was found, that the section puts no bar on the powers of the AO, to put to tax, any other income, chargeable to tax, which has escaped assessment, and which subsequently comes to his notice, in the course of the proceedings, but then, the prefixing words "and also", which succeeded "any income chargeable to tax has escaped assessment for any assessment year, he may, subject to the provisions of ss. 148 to 153, assess or reassess such income". This expression was found to be making clear, that existence of the income, for which the AO formed belief, to have escaped assessment, is a precondition, for including any other income chargeable to tax, escaping assessment, and coming to the notice of the AO subsequently, in the course of the proceedings. Thus, unless and until such income, as giving rise to form belief, for escaping assessment, continues to exist, and constitutes a subject-matter of assessment, under s.147 "no other income" coming to the notice of the AO, during the course of the proceedings, can be roped in.</p>
<p><strong>Indeed, the above interpretation was valid for the old regime. However, it is relevant to analyze the new regime in context of such ratio. Does the ratio laid down by various High Courts is still hold good in context of new regime? In the reading of the Author, the answer is yes, in fact, in the reading of the author, the ratio of said judgements has been deeply incorporated in the new regime. So, let&rsquo;s analyze the provisions of the new regime of reassessment.</strong></p>
<h2><strong>Provision of Section 147 of New Regime:</strong></h2>
<p>The section 147 of the Act provides as under:</p>
<p><em>Income escaping assessment.</em></p>
<ol start="147">
<li><em> If any income chargeable to tax, in the case of an assessee, has escaped assessment for any assessment year, the Assessing Officer may, subject to the provisions of sections 148 to 153, assess or reassess such income or recompute the loss or the depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year).</em></li>
</ol>
<p><em>Explanation.&mdash;For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, irrespective of the fact that the provisions of section 148A have not been complied with.]</em></p>
<p>The main provision of the section 147 provides that the Assessing Officer may, <strong><u>&ldquo;subject to the provisions of sections 148 to 153&rdquo;</u></strong>, assess or reassess <strong><u>&ldquo;such income&rdquo;. </u></strong>Here it is relevant submit that the reassessment under new regime is subject to the provisions of the Section 148 to 153 and the phrase <strong><u>&ldquo;such income&rdquo;</u></strong> means the income which has escaped assessment and for which the proceedings u/s 148A has been / was initiated.</p>
<p>Now, let&rsquo;s analyze the explanation to section 147 which provides that Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment, and such issue comes to his notice subsequently in the course of the proceedings under this section, <strong><u>irrespective of the fact that the provisions of section 148A</u></strong> have not been complied with.</p>
<p>The main provision provides that Assessing Officer may, <strong><u>&ldquo;subject to the provisions of sections 148 to 153&rdquo; </u></strong>assess or reassess <strong><u>&ldquo;such income&rdquo; </u></strong>and explanation to said section provides that the AO may assess or reassess the income in respect of <strong><u>any issue</u></strong>, which has escaped assessment, and <strong><u>such issue</u></strong> comes to his notice subsequently in the course of the proceedings under this section, <strong><u>irrespective of the fact that the provisions of section 148A </u></strong>have not been complied with.</p>
<p><strong>So, the explanation to section 147 only carve out / relaxed the requirement of the section 148A proceedings and the said explanation have not carve out / relaxed the requirement of other applicable range of the sections as contained in the main provision of the section 147. Therefore, in the reading of the author, </strong></p>
<ul>
<li>the AO can assess or reassess <strong>&ldquo;other issue&rdquo;</strong> and for making assessment of such other issue. For making such assessment or reassessment of the <strong>&ldquo;other issue&rdquo;</strong> the AO has not to comply with the provisions of the section 148A (i.e. Conducting inquiry, providing opportunity before issue of notice under section 148).</li>
<li>However, for making assessment of such <strong>&ldquo;other issue&rdquo;</strong>, the AO has to comply with the other range of the provisions i.e. 148 to 153 (except 148A) as mandated by the main section (i.e. Sec 147).</li>
</ul>
<p><strong>Hence, for making an assessment of the other issue, the AO must have to issue a notice u/s 148 and must have to fulfil the requirements of the other provisions of the range of sections as mandated by the main section (i.e. Sec 147).</strong></p>
<p>&ldquo;The legislature could not be presumed to have intended to give blanket powers to the Assessing Officer that on assuming jurisdiction under Section 147 regarding assessment or reassessment of escaped income, he would keep on making roving inquiry and thereby including different items of income not connected or related with the reasons to believe, on the basis of which he assumed jurisdiction. For every new issue coming before Assessing Officer during the course of proceedings of assessment or reassessment of escaped income, and which he intends to take into account, he would be required to issue a fresh notice under Section 148.&rdquo; This observation was made by the Hon&rsquo;ble Delhi High Court in the case of Ranbaxy Laboratories Limited vs CIT (ITA No. 148/2008). The said observation is apparently fit in the new regime as well when we read main provision of the section 147 along with explanation thereto.</p>
<p><strong>In the context of the above discussion, it is also relevant here to analyze the contents of the section 148 notice. The same are reproduced as under:</strong></p>
<table>
<tbody>
<tr>
<td width="623">
<h2 style="text-align: center;"><em><strong><u>Notice under section 148 of the Income-tax Act,1961</u></strong></em></h2>
<p>&nbsp;</p>
<p><em>Sir/Madam/ M/s.</em></p>
<p>&nbsp;</p>
<p><em>&middot; I have the <strong><u>following information in your case</u></strong> or in the case of the person in respect of which you are assessable under the Income tax Act, 1961(here in after referred to as "the Act") for Assessment Year &hellip;&hellip;&hellip;.</em></p>
<p>&nbsp;</p>
<p><em>&middot; <strong><u>information flagged by the risk management strategy</u></strong> formulated in this regard suggesting that income chargeable to tax has escaped assessment within the meaning of section 147 of the Act. Order under sub-section (d) of section 148A of the Act has been passed in such case vide DIN &hellip;&hellip;&hellip;&hellip;&hellip;.. dated &hellip;&hellip;&hellip;&hellip;&hellip;. and annexed herewith for reference,</em></p>
<p>&nbsp;</p>
<p><em>2. I, therefore, propose to assess or reassess <strong><u>such income</u></strong> or recompute the loss or the depreciation allowance or any other, allowance or deduction for the Assessment Year &hellip;&hellip;.. and I, hereby, require you to furnish, within 30 days from service of this notice, a return in the prescribed form of the Assessment Year &hellip;&hellip;&hellip;.</em></p>
<p>&nbsp;</p>
<p><em>3. This notice is being issued after obtaining the prior approval of the &hellip;&hellip;&hellip;&hellip;&hellip;. accorded on date &hellip;&hellip;&hellip;&hellip;&hellip;&hellip; vide Reference No. &hellip;&hellip;&hellip;&hellip;&hellip;&hellip;&hellip;&hellip;</em></p>
</td>
</tr>
</tbody>
</table>
<p><strong>&nbsp;</strong></p>
<p>It is apparently clear from the reading of the notice u/s 148 that the law makers, empower the AO to assess or reassess the <strong>specific issue involved in the assessment. </strong>The reading of the main provisions of the section 147 read with explanation thereto and read with the content of the notice u/s 148, make it clear that the AO is empowered only to assess or reassess <strong>&ldquo;issue&rdquo; which forming part of the 148A proceedings, forming part of 148 notice and such &ldquo;issue&rdquo;</strong> fulfilled the requirements of the other applicable sections. i.e. Section 148 to 153. Therefore, <strong>the AO is not impowered to assess or reassess other issues which comes to his notice subsequently in the course of the proceedings u/s 147 without fulfilling the requirements of the section 148 to 153 (except section 148A).</strong></p>
<p>Above reading by the author is also rational as the legislature could not be presumed to have intended to give blanket powers to the Assessing Officer that on assuming jurisdiction under Section 147 regarding assessment or reassessment of escaped income, he would keep on making roving inquiry and thereby including different items of income not connected or related with the original issue.</p>
<p>Around decade back, the concept of the limited scrutiny was introduced in the regular assessment proceedings, in which the AO was empowered to examine only the issues identified by the CASS (however, with approval of the higher authorities, the AO is empowered to examine the other issues as well). This attempt of the Board / CBDT can be analyzed in way to reduce litigation and to do not empower the AO to keep on making roving inquiry and to give blanket powers of the assessment to the AO.</p>
<h2>Conclusion:</h2>
<p>Therefore, in view of the author, the following conclusion can be drawn from the reading of the above article:</p>
<ol>
<li>The AO is empowered to assess / reassesses &ldquo;other issue&rdquo; (i.e. the issue which not form part of the 148A proceedings and 148 notice). However, for making assessment / reassessment of such &ldquo;other issue&rdquo; the AO has to comply with the provisions of the section 148 to 153 (except section 148A).</li>
</ol>
<p>&nbsp;</p>
<ol start="2">
<li>The assessment proceedings u/s 147 of the Act are issue specific and hence, for every new issue (which comes to his notice subsequently in the course of the proceedings under this section) must fulfill the requirements of the section 148 to 153 (except section 148A).</li>
</ol>
<p>&nbsp;</p>
<ol start="3">
<li>The Judgement of the Bombay High Court in the case of CIT vs. Jet Airways (I) Limited (2011) 331 ITR 236 (Bom.) and Hon&rsquo;ble Delhi High Court in the case of Ranbaxy Laboratories Limited vs CIT (ITA No. 148/2008), which are relevant for the old regime, can be said to have deeply incorporated in the new regime of reassessment as well.</li>
</ol>
<p>&nbsp;</p>
<h2><strong>About Author:</strong></h2>
<p>The author, Manish Harchandani (founder of Harchandani &amp; Associates, Chartered Accountants) is practicing Chartered Accountant and engage in the practice of Direct Tax, International Taxation, Transfer Pricing, FEMA and FCRA related advisory, litigation &amp; compliance matters. He can be reached at <a href="mailto:info@harchandani.in">info@harchandani.in</a>, <a href="https://harchandani.in/">https://harchandani.in/</a> and <a href="http://www.linkedin.com/in/mnharchandani">www.linkedin.com/in/mnharchandani</a></p>
<p><strong>&nbsp;</strong></p>
<h2><strong>Disclaimer:</strong></h2>
<p>The contents of this publication are solely for informational purpose. It does not constitute professional advice or a formal recommendation. While due care has been taken in preparing this publication, the existence of mistakes and omissions herein is not ruled out. Neither the author nor the publisher or its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this publication nor for any actions taken in reliance thereon.</p>
<p>This artical was originally publised on Taxmann (Ref: [2023] 148 taxmann.com 170 (Article))</p>

New Scheme of Reassessment - Whether AO is empowered make an assessment of “other issue” as well?

assessment under section 147 and 148 income tax act

<p>The RBI has rationalised the FIRMS portal in order auto acknowledge the Forms and to process the same for determining any violation involved therein.</p>
<p><strong>Following are the salient features of the changes made on the FIRMS portal:</strong></p>
<p>- All forms submitted with the requisite documents will be auto-acknowledged on the FIRMS portal with a time stamp and an auto-generated e-mail will be sent to the applicant.</p>
<p>- The forms submitted within prescribed timelines, will be verified by the AD banks based on the uploaded mandatory documents and ensure that the same are in compliance with the extant guidelines.</p>
<p>- The system would identify the delay in reporting, if any.</p>
<p>- For forms filed with a delay less than or equal to three years, the AD banks will approve the same, subject to payment of LSF.</p>
<p>- The LSF will be computed by the system and an e-mail will be sent to the applicant and the concerned Regional Office (RO) of RBI specifying the amount and the timeline within which it is to be paid to the concerned RO of RBI.</p>
<p>- Once the LSF amount is realised, the concerned RO will update the status in the FIRMS portal and the updated status will be communicated to the applicant through a system generated e-mail, which can also be viewed in the FIRMS portal.</p>
<p>- The AD bank will approve the forms filed with a delay greater than three years, subject to compounding of contravention. The applicant may thereafter approach RBI with their application for compounding.</p>
<p>- The remarks of the AD Bank for rejection of forms, if any, will be communicated to the applicant through a system generated e-mail and the same can also be viewed in the FIRMS portal.</p>
<p><strong>Conclusions:</strong></p>
<p>These changes are welcomed steps which are intended to improve transparency and better implementation of the reporting requirements. Earlier, the AD Banks had to process these forms within three working days, however, now they have to process these forms within five working days. It is also important here to state that the relevant date for the compliance is date of reporting to the RBI by the AD Bank and not the date of uploading. So, it is advisable to the user to file the relevant forms much before the due date to avoid any delay which may result in Late Submission Fees or Compounding Fees.</p>

Foreign Direct Investment in India - Update on Reporting and Compliances

FDI Foreign Direct Investment Reporting Compliances Update

<h2><strong>Introduction of the One Person Company</strong></h2>
<p>One Person Company (OPC) in India is a new concept that has been introduced with the Companies Act 2013. This form of company is mainly designed for an individual who are not willing to enter in partnership with others but want a corporate structure. OPC can be termed as Organized / Corporate Structure of the Proprietorship along-with a feature of limited liability.</p>
<p>Section 2(62) of the Act provides that the &ldquo;One Person Company means a company which has only one person as a member.&rdquo; That means the 100% of shareholding being held by the single individual.</p>
<p>However, it is important to note that no individual shall be eligible to incorporate more than one OPC or become a nominee in more than one such company. However, if an individual, being a member in OPC becomes a member in another OPC by virtue of his being a nominee in that OPC within a period of 180 days then he shall withdraw his membership from either of the OPCs within 180 days.</p>
<h2><strong>Whether FDI in OPC is allowed?</strong></h2>
<p>In OPC, the whole shares are held by single individual i.e. a natural person and not by any legal entity. Therefore, FDI by the Foreign Company in the OPC will not be permissible as per the provisions of Companies Act however, FDI by non-resident Indian who is citizen of India may form an OPC.</p>
<p>NRIs can invest in OPC on non-repatriation basis as well as repatriation basis in OPC.</p>
<h2><strong>Investment on Non-Repatriation basis</strong></h2>
<p>Investment on Non-Repatriation basis is treated at par with domestic investment. Therefore, FEMA pricing guidelines and reporting compliances are not applicable at the time of investment. &nbsp;The disinvestment / sales proceeds shall be credited only to the NRO account of the person concerned, irrespective of the type of account from which the consideration was paid.</p>
<p>There are certain businesses in which investment is prohibited under this route such as a Nidhi company or a company engaged in agricultural or plantation activities or real estate business or construction of farm houses or dealing in transfer of development rights.</p>
<p>The amount of consideration shall be paid as inward remittance from abroad through banking channels or out of funds held in NRE/FCNR(B)/NRO account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016.</p>
<h2><strong>Investment on Repatriation basis</strong></h2>
<p>Investment on Repatriation basis will require compliance with sectoral caps and conditions, FEMA pricing guidelines and reporting compliance such as FCGPR, FCTRS, FLA etc. The Sales proceed can either be credit to the NRE account or can be transfer to the foreign bank account (subject to deduction of applicable taxes)</p>
<p>In this route, the prohibited sectors are: (a) Lottery business including Government or private lottery, online lotteries, etc. (b) Gambling and betting including casinos, etc. (c) Chit funds (d) Nidhi company (e) Trading in Transferable Development Rights (f) Real estate business or construction of farm houses (g) Manufacturing of cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes. (h) Activities or sectors not open to private sector investment e.g. (I) Atomic energy and (II) Railway operations (other than permitted activities mentioned in paragraph (3) of Schedule I) (i) Foreign technology collaborations in any form including licensing for franchise, trademark, brand name, management contract is also prohibited for lottery business and gambling and betting activities.</p>
<p>The amount of consideration shall be paid as inward remittance from abroad through banking channels or out of funds held in NRE/FCNR(B)/Escrow account maintained in accordance with the Foreign Exchange Management (Deposit) Regulations, 2016.</p>
<p><strong>Disclaimer</strong></p>
<p><em>The information contained in this article is for general informational purposes only and is not intended as legal advice or to create an professional-client relationship. The contents of this article should not be relied upon as a substitute for obtaining legal advice from a qualified attorney. No professional-client relationship is formed by the use of this information, and no reader should act on this information without seeking professional / legal counsel. Hence, we recommend that professional advice is sought before taking any action on specific issues before entering into any investment or financial obligation based on this Content</em></p>

Harchandani & Associates, Chartered Accountants

OUR MOTTO

SERVICES PROVIDED BY HARCHANDANI & ASSOCIATES

International Taxation & Transfer Pricing

Income Tax / Direct Tax

Goods & Service Tax (GST)

FCRA

Company Incorporation

FEMA Advisory & Consultancy

Audit & Assurance

CMA Data and Project Report

ARTICLES