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: Central Excise rule to resale the machines to a new company :: due date for vat payment :: empanelment :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: TDS
 
 
« General »
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income
 Tax ease on cards, some daily use items may become cheaper
 It’s one year of GSTN, too
 SBI home, auto loan interest rates cut, set to be effective from Nov 1
 MNCs will have to furnish extra disclosures from March 2018
 High Court Allows Woman To File Income Tax Returns Without Quoting Aadhaar
 If tax status is no longer NRI, all your income is taxable in India
 Tax Benefits from Different Types of Loans under the Income Tax Act, 1961
 Do you have any question about tax filings? Now, chat online with income tax experts to clear your doubts

Is wealth tax payable on foreign equity?
January, 13th 2011

The issue for consideration is whether Wealth Tax is payable on the shares of foreign companies held by Indian companies or other Indian entities? The existing scheme of Wealth Tax is that the shares of companies are not liable to Wealth Tax, being outside the definition of assets in the Wealth Tax Act. Accordingly, shares of companies whether such companies are Indian companies or foreign companies will be outside the purview of Wealth Tax levy. Until 1992 shares held in a company were liable to wealth tax. However, with a view to channelise investment to productive areas, the definition of the term asset was amended by Finance Act, 1992.

As a result of the afore-said amendment, wealth-tax stood abolished on shares. In fact the memorandum explaining the provisions of Finance Bill, 1992 provided that with a view to stimulating investment in productive assets, it is proposed to abolish wealth-tax on all assets except certain specified assets.

The above position is now sought to be disturbed in respect of shares of foreign companies by introduction of Controlled Foreign Company (CFC) regime. The Income-tax Act as well as the Wealth tax Act is proposed to be substituted by the revised Direct Taxes Code (DTC). The revised DTC contains provision relating to Controlled Foreign Companies (CFC).

For more information click here

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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