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: empanelment :: ACCOUNTING STANDARD :: form 3cd :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT RATES :: due date for vat payment :: cpt :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
« Direct Tax »
 Pune region tops in direct tax kitty growth
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months

CBDT resolves Rs 5,000 crore tax disputes under MAP
February, 16th 2016

The tax department today said it has resolved disputes totalling Rs 5,000 crore with foreign companies in sectors like software and consultancy under the Mutual Agreement Procedure (MAP) in about two years time.

The countries with which the cases have been resolved are the US, Japan, the UK and China, the Central Board of Direct Taxes (CBDT) in a statement said.

Since April 1, 2014, till date, the CBDT has resolved 180 cases under MAP. The total amount of income locked up in dispute in these cases is approximately Rs 5,000 crore," it said.

MAP, under the double taxation avoidance agreement ( DTAA), is an alternative tax dispute resolution mechanism available to authorities and foreign investors.

"Its use to resolve disputes has provided comfort to foreign investors and also reduced the number of cases under litigation. This is one of the actions taken by CBDT to ensure a fair and judicious dispute resolution regime to encourage foreign investment," the statement added.

The resolved cases pertain to sectors like software, IT enabled, manufacturing and consultancy services, among others, it said.

Tax treaties signed by India with various countries contain an article to relieve taxpayers from double taxation through an MAP. Internationally, the MAP is an important mechanism to resolve tax disputes between countries.

The CBDT said the MAP programme is led by one or more competent authorities designated by the signatory countries to resolve tax disputes under the provisions of each treaty.

In the last two years, increased focus on MAP has resulted in resolution of large number of disputes relating to double taxation," the CBDT said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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