M Padmakshan

  • 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.

    Commission to foreign cos not taxable in India

    Commission to foreign cos not taxable in India

    The Authority for Advanced Ruling has ruled that if an Indian company pays a commission to an overseas company to promote its business in that country, such payment will not be taxable in India.

    Retailers in Maharashtra to boycott UB brands

    Retailers in Maharashtra to boycott UB brands

    The king of good times is in a bit of a spot. The over 1,600 retailers in Maharashtra have threatened to stop selling Bagpiper and McDowell's, the flagship whisky brands of United Spirits.

    Tax shadow on foreign arms' dividend

    Tax shadow on foreign arms' dividend

    Undistributed dividends of foreign corporations controlled or owned by Indian companies will be taxed in the near future, said income tax (I-T) department sources.

    ‘I-T dept can’t tax research work’

    ‘I-T dept can’t tax research work’

    The Bombay High Court, in a recent order, came down heavily on the Income-Tax Department, which unilaterally injected an application for exemption for scientific and industrial research, without seeking guidance of experts on the matter.

    Wine lovers will soon have more brands to choose from

    Wine lovers will soon have more brands to choose from

    California-based E&J Gallo, the world’s second-largest winery by the number of cases sold, has drawn elaborate plans to introduce brands from its global portfolio in India, from September 2009.

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