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: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: empanelment :: form 3cd :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4%
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

Nasscom for I-T waiver for NRIs outsourcing jobs
December, 14th 2006

The Natioanl Association of Softaware and Services Companies (Nasscom) has recommended a slew of measures for the Indian IT sector in its pre-budget memorandum.

To boost the BPO industry as well as remove the concerns of non-residents, the industry body has sought clarifications in the Indian income tax legislation.

It has recommended tax exemption for non-resident Indians outsourcing their back-office processing and call centre activities to India. Nasscom has proposed introduction of a system of consolidated tax returns for group entities. This is expected to eliminate the economic distortions on account of inter-company transactions within the group and thereby ensure reduction in tax avoidance practices such as intra-group dealings, loss cascading and value shifting. As a result of implementing such a practice, tax effects on the dividends paid between companies would also be eliminated.

Under the foreign tax credit policies, it has asked for the incorporation of relevant provisions in the domestic law and rationalisation of transfer pricing rules. In consideration with the Advanced Pricing Agreement (APA) procedure followed in countries such as the US, Canada and Mexico, China, Taiwan, Korea, Japan, Australia amongst others, Nasscom has suggested APA mechanism to be followed in the coming Budget. It would like resources to be provided to the new APA office to allow them to process the required rulings.

STPI sops

Nasscom has also sought the continuation of tax exemption for Software Technology Parks beyond 2009 so that companies could continue availing themselves of benefits and have the time to adjust to the SEZ framework, which would take the next two-three years to get operational. Nasscom wants the extension to be made concurrent with the tax holiday provided for exporting units in SEZs.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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