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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
News Headlines »
 Securities excluded from GST ambit in revised Bill
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice

Tax benefits, duty cuts top industry wish list
February, 16th 2015

As the Budget day approaches, various sectors are lobbying hard for tax benefits and duty cuts while a few others want the government to ensure a stable and predictable taxation regime.

The groups and consultants lobbying for MNCs want the government, in the Union Budget on February 28, to bring in clarity on taxation in case of sale or indirect transfer of Indian operations.

Following the retrospective amendment to Income Tax Act in the wake of the Vodafone-Hutchison tax controversy, a company incorporated overseas is deemed to be situated in India only if it derives its "value substantially" from assets located within this country.

Tax experts want this term "value substantially" to be defined properly by putting in a threshold limit, preferably of 50 per cent to avoid uncertainty and litigation.

READ ALSO: Tax relief for individuals and companies likely in 2015-16 Budget

"One of the key concerns of the foreign investors in respect of indirect transfer of shares is the lack of clarity as to what constitutes substantial value of assets situated in India. Therefore, it is critical that government clarifies its position in this year's Budget," KPMG (India) Partner Tax Vikas Vasal said.


File photo of Finance Minister Arun Jaitley (PTI photo)

The uncertainty over threshold has impacted the global acquisitions and group restructuring transactions (involving merger, demergers, business sale etc) wherein the shares of Indian company are also involved, said Gokul Chaudhri Leader (Direct Tax) BMR & Associates.

READ ALSO: Rail Budget 2015 — Introduction of vacuum toilets likely

On its part, the pharmaceutical sector wants Finance Minister Arun Jaitley to grant more tax incentives for research and development (R&D) activities.

In its Budget proposals, the Commerce Ministry has sought "weighted average tax benefit of 400 per cent for R&D activities for the sector".

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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