LatestIncome Tax 9 July 2026
Income Tax Update 2026
The Income Tax Department has released the Excel Utility for ITR-5 for AY 2026-27, and ITAT has deleted PE addition after allowing marketing fees paid to Indian subsidiary, this decision is expected to have significant implications for taxpayers and businesses in India, particularly those with international transactions and subsidiaries, as it provides clarity on the tax treatment of marketing fees and permanent establishment
The Income Tax Department has released the Excel Utility for ITR-5 for AY 2026-27. Key points to consider:
- The ITAT has deleted PE addition after allowing marketing fees paid to Indian subsidiary
- This decision is expected to have significant implications for taxpayers and businesses in India, particularly those with international transactions and subsidiaries.
Some key factors to note include:
- Clarity on the tax treatment of marketing fees
- Implications for permanent establishment in India
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