CBDT has set up a committee to formulate rules that would enable the income tax authorities to accept the transfer pricing returns without scrutiny.
The forthcoming budget may contain provisions for taxing the undistributed dividend of foreign corporations that are controlled or owned by Indian companies.
Around Rs 1,000-cr taxes likely to have been evaded under fake stock contract notes.
The forthcoming Union budget may have an anti-avoidance provision, which can effectively check convoluted transactions devised exclusively for the purpose of evading paying taxes in India.
The advance pricing agreement, a mechanism that enables multinational companies operating in India to know their tax liability in advance, may figure in the forthcoming budget as the government aims to clear ambiguities in this space and push for higher MNC presence.
In A major relief to corporates who regularly make cross-border payments, the Supreme Court has stayed the order by the Karnataka High Court.
China introduced Circular 698 that empowers its tax administration to tax capital gains if its resident enterprises are sold through a transaction taking place outside China between two non-resident parties.
THE government has, in an unprecedented move, posted two senior Indian Revenue Service (IRS) officers to Singapore and Mauritius
The recovery of the Indian economy, as was broadly expected, has worked well for the advance tax figures.
Manufacturing and pharma cos emerge stronger from the downturn than foreign banks, if advance tax nos for the quarter-ended December are an indication.
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