M Padmakshan

  • I-T dept says it can levy tax on Voda’s Hutch deal

    I-T dept says it can levy tax on Voda’s Hutch deal

    Income Tax department told the division bench of the Bombay High Court that it has the jurisdiction to levy tax on the $11-billion acquisition of telecom major Hutch-Essar by Vodafone.

    ‘No MAT for companies without local base’

    ‘No MAT for companies without local base’

    Minimum alternate tax (MAT) - a levy typically aimed at collecting tax from companies enjoying exemptions - is not payable by foreign companies not having a permanent establishment in India, according to a recent verdict by the Authority for Advance Ruling.

    Diageo plans to launch local brands in India

    Diageo plans to launch local brands in India

    Diageo, the world’s largest maker of alcoholic drinks including Johnnie Walker whisky and Smirnoff vodka, plans to launch some local brands in India after a break of eight years, a senior company official said.

    I-T's Dave exits KPMG, returns to home base

    I-T's Dave exits KPMG, returns to home base

    Girish Dave, the former chief commissioner, had joined KPMG after his retirement, a move that was looked at askance by the higher echelons of the Indian Revenue Service.

    Vodafone I-T case inspiration abroad

    Vodafone I-T case inspiration abroad

    Indian tax decisions are serving as precedents for tax regimes in other countries . The most recent example has been the tax authorities’ decision to levy tax on the $11-billion acquisition of Hutch-Essar by Vodafone.

    India Inc's tax outgo seen up 18% in Q1

    India Inc's tax outgo seen up 18% in Q1

    Indian companies are estimated to have paid 18% higher tax in the June quarter, compared with the year-ago period, signalling strong recovery in the economy.

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