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 :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: form 3cd :: empanelment :: cpt :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
« General »
 Data shows new tax regime widely adopted
 Confusion over GST persists: Wholesale grain market affected, sales fall by 40 percent in Pune
 Slow tax growth reflects companies' GST troubles
 What is PAN card? Why is it important?
 Govt to cut down executive discretion on tax laws
 Businesses can start filing July returns on GSTN from August 5
 Are you earning abroad? Know the tax rules
 Attention last minute tax filers! Know about key changes made by govt this year
 Accounting relief for IndAS companies
 How you can reduce your tax to zero if you have income within Rs 10 lakh
 NRIs’ overseas bank info needed only for tax refund

8 more Income-tax units will be set up abroad
January, 27th 2011

India is setting up eight more income-tax overseas units as part of its efforts to strengthen its tax administration machinery, the Finance Minister, Mr Pranab Mukherjee, has said.

The eight countries where such units have been recently created are the US, the UK, The Netherlands, Japan, Cyprus, Germany, France and the UAE. The Central Board of Direct Taxes (CBDT) is now in the process of deploying officers at these locations.

As on date, India has two income-tax overseas units located in Mauritius and Singapore. Once TIEAs are finalised with priority countries/jurisdictions, the Government will review creation of more income-tax overseas units depending on the requirements.

Meanwhile, the Government is also setting up an exchange of information (EOI) cell, which will help in effective exchange of information to curb tax evasion. This cell is being created within the foreign tax division (FTD) of the CBDT.

Mr Mukherjee also said that the existing set-up in FTD is being strengthened and additional manpower has been put in place.

On the double tax avoidance agreement (DTAA) front, India has already initiated the process of negotiation with 65 countries to broaden the scope of Article concerning exchange of information to specifically allow for exchange of banking information and information regarding taxpayers not covered by DTAA.

As on date, negotiations have been completed with 10 existing DTAA countries, including Switzerland, to update this Article. Agreed texts have been initialled. Thirteen new DTAAs have also been finalised where the exchange of information article is in line with the international standards. In short, negotiations/renegotiations of DTAAs with 23 countries have been completed, Mr Mukherjee said.

To enlarge the scope of DTAAs, provisions for assistance in tax collection abroad are included in some of the recently concluded DTAAs. A provision regarding assistance in tax examination abroad is included in all the negotiated or signed TIEAs which will enable the revenue department to send its officers abroad for tax examination.

We are negotiating inclusion of this clause in the existing and new DTAAs also, a Revenue Department official said.

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

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