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: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT RATES :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: cpt :: VAT Audit
 
 
General »
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms

For better exchange of info on tax evaders
January, 16th 2010

India and Finland on Friday revised their tax treaty to help better exchange of information on tax evaders. Both countries also agreed to bring down the withholding tax rates on dividends from the existing 15% to 10%.

As per the revised agreement, the contracting parties "shall not deny furnishing of the requested information solely on the ground that it does not have any domestic interest in that information or such information is held back by a bank". Another clause has been added to the revised agreement which restricts the powers of a resident to prevent misuse of the Double Taxation Avoidance Agreement (DTAA).

"The lowering of withholding tax will promote greater investments, flow of technology and technical services between the two countries," according to a press note issued by the Central Board of Direct Taxes (CBDT).

This will also ensure assistance in collection of taxes when such taxes are due under the domestic laws and regulation, it added.

The new pact was signed by CBDT chairman S S N Moorthy and Finland's ambassador Terhi Hakala here.

Talks between India and Switzerland are in progress on including a similar amendment in their existing DTAA. The pressure has been mounted on the Swiss authorities after the G-20 meeting in London where the finance ministers of developing and developed countries laid emphasis on a concerted move to crack down on tax havens.

The FMs of the G-20 nations adopted a resolution at the end of the meeting calling for "an effective programme of peer review, capacity building, and counter measures to tackle non-cooperative jurisdiction that failed to make regulatory standards, anti-money laundering and combating financing of terrorism".

The revenue department in the finance ministry has been from time to time negotiating fresh tax treaties with countries with which it has no such arrangement and revising the existing treaties where liberal clauses are replaced with more stringent reporting mechanism to avoid any round tripping, a method by which businessmen route money through some of the tax havens avoiding taxes.

In the past few years, India has had several rounds of talks with Mauritius to renegotiate the DTAA seeking to curb companies indulging in round tripping of investments. However, no agreement has been reached yet.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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