WebJul 6, 2024 · Charge of Equalization levy on e-commerce supply of services {Sec.165A of I.T Act, 1961}:-. 1) On and from the 1st day of April, 2024, there shall be charged an equalization levy at the rate of 2% of the amount of consideration received or receivable by an e-commerce operator from e-commerce supply or services made or provided or facilitated … WebJun 21, 2024 · Equalisation Levy (Amendment) Rules 2024 as notified on 28.10.2024, with following amended forms: Form 1: Statement of Specified services or e-Commerce …
Transactions involving royalty, tech fee taxable under I-T not liable ...
WebJun 3, 2024 · To recap, in April 2024 India introduced its enlarged version of digital tax, also called the Equalization Levy (EL 2.0), bringing nonresident e-commerce operators engaged in online supply of goods or the provision of services into its ambit. ... The EL is levied through the Finance Act, 2016 and not the Income-tax Act, 1961, and as such it is ... WebFinance Act, 2016 has introduced a new tax aimed at internet advertising providers that earn income from India, and do not have a permanent establishment for tax purposes in India. … didcot post office georgetown
Wider ramifications of Equalisation Levy 2.0 - @businessline
WebMay 29, 2024 · Equalisation Levy is a direct tax, which is withheld at the time of payment by the service recipient. The two conditions to be met to be liable to equalisation levy: The payment should be made to a non-resident service provider; The annual payment made to one service provider exceeds Rs. 1,00,000 in one financial year. WebApr 15, 2024 · About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features NFL Sunday Ticket Press Copyright ... WebFeb 1, 2024 · Neeru Ahuja, Partner at Deloitte India, said the equalisation levy (EL) law - brought into force on April 1, 2024 - needed clarity in regard to payments made by Indian companies to non-residents for royalty/technical services fee that are already covered under the Income Tax Act and subject to tax in India. didcot power station demolition contractor