Sachin Dave

  • Digital companies scramble to save on tax as India tightens data laws

    Digital companies scramble to save on tax as India tightens data laws

    The fear for companies such as Google, Facebook, Netflix, Amazon and LinkedIn is that if the servers sit in India, it would be seen as a PE and will attract higher tax. Some are also exploring another route for tax saving. They may consider creating a separate company that would own servers and the main entity would only pay “rent” for using it.

    For DHFL, RBI appoints EY administrator advisor and AZB legal advisor

    For DHFL, RBI appoints EY administrator advisor and AZB legal advisor

    DHFL is in the process of finding a resolution after a recent proposal of lenders was rejected by the RBI. ET was first to report on October 19 that the RBI had rejected a proposal by banks that would have allowed them provisioning relief to the tune of Rs 6,000 crore on borrowings by DHFL. Most banks will have to now take this into account for the December quarter.

    IBC to be amended to protect new owners of bankrupt companies

    IBC to be amended to protect new owners of bankrupt companies

    The Cabinet is likely to approve relevant changes to the three-year-old Insolvency and Bankruptcy Code at the earliest. This will bring much-needed confidence to buyers of distressed assets, acquirers who were otherwise wary about the over-reach of the investigative authorities. Amendments to the IBC, which came into effect in December 2016, will require eventual parliamentary approval.

    Realtors challenge constitutional validity of National Anti-profiteering Authority

    Realtors challenge constitutional validity of National Anti-profiteering Authority

    Input tax credit refers to a mechanism under the GST framework wherein the tax a company pays when it buys raw materials or other services can be passed on to the buyer when the goods or services are sold. Many real estate developers were asked to pay penalties as they did not pass on the benefits of the input tax credit to the customers.

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