M Padmakshan

  • Foreign cos may pay less tax here in Q2

    Foreign cos may pay less tax here in Q2

    Advance tax collection from overseas firms is set to drop sharply in the September quarter, as the global slowdown has affected their Indian operations as well.

    STT mop-up marginally higher in Apr-Sept

    STT mop-up marginally higher in Apr-Sept

    Rising market has led to an increased collection of the Securities Transaction Tax (STT), a tax imposed on every transaction on India’s capital markets, resulting in the total receipts reaching the levels of the previous year.

    Direct tax collection signals recovery

    Direct tax collection signals recovery

    The total direct tax collected from all over India in the April-to-September period has matched last year’s growth in collections, indicating that concerns of a lower mop up due to reduced corporate earnings are unfounded.

    'Mauritius co can claim I-T relief under DTAA'

    'Mauritius co can claim I-T relief under DTAA'

    Having an effective management in India is not a sufficient ground to deny exemption from capital gains tax to a company that is based in Mauritius, ruled a Delhi bench of the Income-Tax Appellate Tribunal (ITAT).

    Mallya blinks, liquor boycott off

    Mallya blinks, liquor boycott off

    Liquor outlets across Maharashtra, on Wednesday called off the three-week long boycott of Bagpiper and McDowell’s No 1 whisky, flagship brands of the Vijay Mallya-led United Spirits (USL), after the company agreed to restore the 3% margin to retailers.

    Hotels join margin-cut stir

    Hotels join margin-cut stir

    The agitation in the state against the sale of United Spirits’ (USL) two flagship brands, Bagpiper Whisky and McDowell’s No 1, intensified on Monday with the Indian Hotels & Restaurants Association (AHAR) also joining in.

    New tax codes change transfer pricing rules

    New tax codes change transfer pricing rules

    The provision in the new tax code provides for a system of selecting cases for scrutiny in accordance with the "risk management strategy" to be framed by CBDT.

    Bill to protect independent directors

    Bill to protect independent directors

    A bill has been moved in Parliament for exempting independent directors of companies from criminal and civil liabilities, if they are not involved in the day-to-day functions of the company.

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