Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: empanelment :: ACCOUNTING STANDARD :: form 3cd
 
 
« News Headlines »
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions
  Mentioning of Minor Head Code for accounting of Refund

Use FDI to expand tax base: Shome
November, 15th 2006
The government should look at foreign direct investment as an avenue for expanding the tax base, suggested Parthasarthi Shome, advisor in the office of the Finance Minister. 
 
Shome today suggested a cost-benefit assessment of the effects of foreign direct investment in terms of its benefits versus the losses that result from revenue foregone through the tax sops that are given to attract foreign capital. 
 
Ultimately, we have to look at whether we are able to expand the tax base. The government is continuing its effort to expand the base, he said. 
 
Ficci President Saroj Kumar Poddar suggested a modification in the tax system to remove constraints on in-bound and outbound investments. 
 
In order to encourage Indian companies which had overseas subsidiaries to repatriate their earnings, he said the receipt of dividend and capital gains should be exempted from tax or taxed on a concessional basis. 
 
Poddar also said the government needed to clarify that transactions in respect of such Indian assets would not be regarded as transfer for the purpose of capital gains under Section 47 of the Income Tax Act. 
 
He urged expansion of the scope of Authority of Advance Ruling to cover transactions undertaken by resident assessees. 
 
Ficci also suggested that Dividend Distribution Tax (DDT) needed to be brought within the ambit of double taxation avoidance agreements. 
 
A re-look at transfer pricing norms and provision of a 100 to 300 per cent penalty on the tax payable on the amount of adjustment was also mooted by the industry body. 
 
Jeffrey Owens, director, OECD Centre on Tax Policy and Administration, pointed out that a major challenge existed for Indian corporates with regard to how their overseas subsidiaries were taxed. 
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions