Category: India
Report: Most exporters do little to prevent foreign bribery
An anti-corruption watchdog on Tuesday ranked the United States and United Kingdom as the largest exporters most active at enforcing rules meant to prohibit companies from paying bribes in foreign markets, but said many others are doing next to nothing. ... - Continue reading
Faceless assessment to start with I-T Dept restructuring
Place for the Faceless Assessment Scheme. More on it in this article. ... - Continue reading
ITR forms for 2019-20 notified; disclosure of electricity bill over Rs 1 lakh mandatory
Filing of ITR over Rs1 lakh now compulsory for companies. ... - Continue reading
With the Indian bond market still developing, consider US treasury bonds
A simple way to invest in US Treasury bonds is to invest in a low-cost ETF listed in the US ... - Continue reading
India: Permanent Establishment (PE) In India – Broad Understanding
Some insights into tax residence and permanent establishment for businesses in India. ... - Continue reading
Stranded NRIs could be in for tax trouble
Some bad news for NRIs who are stuck in the lockdown. ... - Continue reading
India’s new 2 percent equalisation levy on the digital economy enters into force
Digital world - Make space for an equalisation levy! ... - Continue reading
Finance bill passed ahead of coronavirus lockdown
Here are the amendments and clarifications concerning tax residence and dividend distribution tax. ... - Continue reading
Swiss banks open the door for India’s tax evasion crackdown
As the famed secrecy walls of Swiss banks started to crumble, some Indians felt a chill down their spine. ... - Continue reading
India: DENIAL OF TAX TREATY BENEFITS- ARE GRANDFATHERED INVESTMENTS FAIR GAME?
A recent ruling by the Authority for Advance Rulings (AAR) in the case of Bidvest has stirred the proverbial hornets' nest when it comes to the issue of treaty protection, and has reignited the debate of substance over form when it comes to availing the benefits of a tax treaty. ... - Continue reading
Tax residency rules for NRIs changed
Budget 2020 and taxation of non-resident Indians. ... - Continue reading
India Budget 2020: The key takeaways
Here are some important tax proposals for India's 2020 Budget. ... - Continue reading
India wants fair share of $100 billion global taxes from Google, Facebook
The digital world continues to be under the lens of the OECD as India further pushes for better 'tax collection' methodology. ... - Continue reading
India’s Authority for Advance Rulings denies tax exemption under India-Mauritius treaty
Clarifications on the India-Mauritius tax treaty. ... - Continue reading
India: India Union Budget 2020 – Unveiling Issues On International Taxation
Clarifications on India Union Budget 2020. ... - Continue reading
Cabinet approves India-Sri Lanka Agreement amendment on double taxation, evasion
New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing and ratification of the protocol amending the Agreement between India and Sri Lanka for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, according to a Press… – Continue reading
India: Expatriate Tax And Regulatory Issues And Best Practices In India
Movement of expatriates cross borders potentially creates several tax and regulatory issues. ... - Continue reading
Checking Evasion: Taxpayers’ bank accounts to be under GST lens
More measures against tax evasion. ... - Continue reading
India: Corporate Tax Rates Slashed To 22% For Domestic Companies And 15% For New Domestic Manufacturing Companies And Other Fiscal Reliefs
Changes to tax laws - Here are the key highlights. ... - Continue reading
India: Role Of Permanent Establishment Vis-A-Vis Indian Laws
India's position with respect to Permanent Establishment ... - Continue reading
Cabinet approves pact on avoidance of double taxation with Chile
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. ... - Continue reading
India launches Income Tax information portal
The portal is a repository of policy and technical circulars and guidance issued by the Central Board of Direct Taxes. In an attempt to reach out to financial institutions and account holders, the Central Board of Direct Taxes has created an exchange of information portal on the income tax department… – Continue reading
India, Switzerland call for greater information exchange in tax matters
The first transmission of financial account information on automatic basis between the two countries took place in September 2019 for enhanced cooperation in the fight against tax evasion. ... - Continue reading
Panama Papers and the ‘thin line’ for legal tax dodging
In the wake of the Panama Papers, thousands of taxpayers around the world received notices from their respective tax authorities seeking clarifications, issuing fines, or requesting payment of taxes dodged. ... - Continue reading
Balanced tax collection system soon: minister
Punjab Finance Minister Makhdoom Hashim Jawan Bakht has said that the government was making efforts for unification of taxes and harmonisation in revenue collection in all four provinces while clarifications would be made on the tax related litigations and GST on services related matters. The minister chairing a review meeting… – Continue reading
G20 finance ministers reaffirm support to tax digital companies
G20 finance ministers support taking the 'Unified Tax Framework' a notch higher - Multinational enterprises like Google, Facebook and Amazon with huge customer base to retain share of profits in concerned countries. ... - Continue reading
India: Rules To ‘Secondary Adjustment’ Rationalized And Clarified
The concept of 'Secondary Adjustment' was introduced in Finance Act 2017 by introducing new Section 92CE in the Indian Income Tax Act (the Act) to align transfer pricing provisions with international best practices. ... - Continue reading
OECD proposal on taxing MNEs to benefit countries like India, say experts
The OECD Secretariat has published a public consultation paper to advance international negotiations ... - Continue reading
What OECD’s tax plan for tech giants means for India
- OECD has proposed that profits of MNCs should be available for taxation in the country where their customers are, irrespective of any physical presence in that market
- A formula should be evolved for such taxation
Corporate tax cut to benefit organized retail sector with pricing power most: report
The corporate tax cut would reduce the reach of the unorganized retail sector as they lose their edge of tax evasion, a 2Point2 Capital report says ... - Continue reading
India: No Withholding Tax Applicable On Arbitral Award
The Delhi High Court ("Court") in Glencore International AG v. Dalmia Cement (Bharat) Limited has held that amounts paid to a non-resident pursuant to an international arbitration award would not be subject to withholding tax in India. ... - Continue reading
