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yes. you dont have to pay double tax
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∙ 16y ago
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What is the meaning of tax deducted at source?
Tax deducted at source (TDS) is a form of tax collection in India used on income assessments. The tax paid is on earnings for the past year.
How temporary were Borden's new taxes after all?
Not temporary at all. Canada still has the business tax and the personal income tax,
If you are making money in another country and your income is coming to the bank in that country do you still have to pay tax?
Sorry if I misinterpreted your question but if you are getting income from overseas into a bank account at home you could have to pay tax on the whole amount if you are considered a resident for tax purposes (which means you pay tax on all income you made world wide) but if you were not a resident for tax purposes you may only need to pay tax on the interest earnt on the money you deposited. It is quite dependent on your circumstances and the countries involved. Hi I lived in England for 2 years, I paid taxes in England but not in Canada. Not sure if it like this for all countries but the UK and Canada has an agreement where you only pay tax in the country you are living in and you are not double taxed.
How do you avoid paying capitol gains tax when selling a rental house in Canada?
You will have to complete your income tax return correctly and pay any income taxes that may be due when the income tax return is completed.
What kind of payment system used in Cambodia like RTGS and NEFT in India?
The payment system used in Cambodia like RTGS and NEFT in India is Patent Tax and Stamps.
What is the article number on the tax treaty with Canada pertaining to gambling needed to file on the W7 form. Wwwirs tax treaties with Canada-gambling?
Treaty Article XXII (Protocol 3)
Double Tax Avoidance Agreement treaty DAAT?
The reason for Mauritius being the source of highest investments in India is Double Tax Avoidance Agreement treaty (DAAT) signed by both the countries in 1983. Before moving ahead I would like to first explain what double taxation is with an example. When a corporate pays dividends to its shareholders, the shareholders need to pay income tax on the earnings made from these dividends. But what happens is the tax is already paid on corporate earnings, on which dividends are paid. Hence double taxation: one on shareholder level and other on corporate level. Now what is DAAT? This treaty was signed between the two countries so as to promote trade between them. Accordance to this treaty, any Mauritian investor who gains from investments in India (capital gains) will not have to pay tax to India. So he needs to pay tax only in Mauritius and not in India, thus avoiding double tax. Now, in the meantime Mauritius removed tax on capital gains, hence there is no tax on Mauritius-based foreign institutional investors effectively. Now how it had been exploited!! No doubt it had increased foreign investments from Mauritius. But according to critics the loss due to exemption of Mauritian investment tax is far more than its investment gains. Different companies are investing in India through Mauritian route as it has become tax haven for them. Companies are opening their Mauritian subsidiaries to exploit this treaty. On top of that many Indian firms have moved their assets to Mauritius and have re routed their investments in India via Mauritius. This is known as round tripping. This round tripping has been a drawback of this treaty, with the Indian companies bypassing Indian tax system. There have been some initiatives to amend this treaty though. So it's a loss!! Or Gain!! Is still to be decided and remains a controversy among the economists.
Tax treaty benefits?
You will not be subject to double taxation. This means that when you pay tax on profits made in one country, you will not be expected to pay the full rate of tax in the country to which you are repartriating these funds.
What is the inheritance tax in Canada?
currently in Canada there is no inheritance tax but they are pruposing such a tax for amounts over $ 1 Million
What is the name of the Canadian tax software?
Some of the tax software is the same for Canada as the United States such as Turbo Tax. They have one that is called Dr. Tax that is exclusive to Canada.
What is service tax in India?
The Service Tax in India is an indirect tax on all services, although there are some exclusions. In 2015, it was increased to 14%.
Who is responsible for Income tax in India?
All persons residing in India are responsible for paying Income tax on monies earned. Dollars earned from agriculture are tax exempt. This is imposed by the Government of India.
Who is gives maximum tax in India government?
Income Tax
Pay tax on inheritance in Canada?
do you have to pay tax on inheritance
State Bank of India Service Tax Registration No?
what is service tax no. of state bank of india hingna branch
Who collects the service tax in India?
In india service tax is collected by CBEC (central board of excise and customs)
What is local body tax?
Local Body Tax is a tax charged in India. This tax is a price charged for bringing goods into a local area for consumption, use or sale. The tax is paid to the civic bodies in India.
