Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: due date for vat payment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: empanelment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
« Service Tax »
 Income tax returns (ITR) filing: Not filed returns for 2 years? Beware! Deadline nearing
 All you want to know about HRA: When you can claim and how it is calculated?
 Income Tax Saving: 6 ways to save tax without investing before March 31 tax deadline
 Unnable to file your tax return? Take help of these portals
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders
 Where to invest for saving more on taxes
 A simpler GST can become a registry of all invoices, says iSPIRT’s Sharad Sharma
  Income Tax department may defend CPC in returns fraud case
 One GST rate not possible, next reform after compliance improves,
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST

Income Tax department finds 'prima facie' defaults by Nokia in TDS deductions
January, 10th 2013

The Income Tax (I-T) department today said it has found prima facie defaults by Finnish handset maker Nokia's Chennai plant in TDS deductions on royalty payments made to its parent company.

During searches conducted by the department at the Nokia's Sriperumpudur factory yesterday, it was also observed that the company had changed its accounting model and also was in the process of reorganising the existing business model to bypass certain direct and indirect tax liabilities.

"Some more clarifications have been sought from the executives of the company," an I-T release said.

The department seized "some important" evidence having a bearing on the tax implications of the company, it said but added further investigation was required before reaching final conclusion on the tax liability.

"It has been gathered during the survey operations that Nokia India has been making remittances to its parent company Nokia OY as payments for software supplies since 2005. The above payments for software would attract TDS as per the provisions of the Income Tax Act 1961", it said.

"But it is learnt that the assessee company has not made any TDS on the above software payments", it said.

Nokia India had said yesterday that it was fully cooperating with the IT department to ensure officials get the necessary information.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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