Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: due date for vat payment :: VAT Audit :: TDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: empanelment :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD
 
 
Service Tax »
 GST return filing to be a breeze for small businesses
 Changes In Central Goods And Services Tax Rules, 2017
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions

Tax row: IT Department rejects Nokia India's offer to pay Rs 2,250 crore
December, 03rd 2013

The Income Tax (IT) Department today told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore to it, out of the company's total tax liability of nearly Rs 6,500 crore, is not acceptable.

Nokia India, however, stuck to its offer and said it is for the department to decide if they are better off with the proposed amount or without it. A bench of justices Sanjiv Khanna and Sanjeev Sachdeva observed "you (Nokia) are offering nothing".

To this, senior advocate Harish Salve, appearing for Nokia, said "we are not in a position to offer more" and added that Rs 2,250 crore is minimum depending upon the outcome of its deal with Microsoft.

Earlier, the mobile handset-maker firm had sought lifting of a stay on transfer of its assets in India saying the court's injunction will jeopardize the sale of its Indian arm to Microsoft under the USD 7.2 billion global deal.

The bench listed the matter for December 9 when Nokia has to give details of its assets and liabilities as well as how much tax it has paid here.

The bench also questioned Nokia India's intention behind sending Rs 3,500 crore to its parent company as dividend of 18 years and asked why the amount should not be brought back here.

The bench made the observation after Nokia said it is exiting the mobile manufacturing business, globally, irrespective of whether its plant in India is sold. The bench said that earlier Nokia had said it will continue manufacturing of mobiles here and now it is saying its unit in India will be wound up eventually.

"Why did you transfer Rs 3,500 crore abroad? Was it not your intention not to keep liquid assets here? You had Rs 4,100 crore cash here (dividend and tax combined). You repatriate it.

"When they (IT department) attach your bank accounts, you come here. That time you were categorical that manufacturing (here) will go on. Now, there is a change in your stand. So shouldn't the amount (that was repatriated) be brought back to India?" the bench said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Wholesale Silver Jewelry

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