This article is the third part of the series of articles about the major amendments proposed by the Finance Minister in the Income Tax Act, 1961 through Finance Bill, 2015. This part contains amendments related to foreign companies.

This article is the second part of the series of articles about the major amendments proposed by the Finance Minister in the Income Tax Act, 1961 through Finance Bill, 2015. This part contains the following changes:
1. Additions to the category of “Incomes which do not form part of the total income”
2. Deletions of categories from “Incomes which do not form part of the total income”
3. Amendments in TDS Provisions

This article is the first part of the series of articles about the major amendments proposed by the Finance Minister in the Income Tax Act, 1961 through Finance Bill, 2015. This part contains the following changes:
1. Change in definition of “resident in India”
2. Increase in surcharge
3. Decrease in rate of taxation for royalty or fees for technical services
4. Deductions under Chapter VI-A
5. Domestic Transfer Pricing
6. Non-acceptance of cash as advance or otherwise, non-repayment of any sum as advance in cash with regards to an immoveable property
7. Deferment of GAAR
8. Additional Depreciation u/s 32(1)(iia)
9. Special allowances for Andhra Pradesh and Telangana
10. Increased compliances u/s 35(2AB) by approved in-house R&D facility
11. Addition to “Transactions not regarded as transfer” u/s 47