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: empanelment :: cpt :: articles on VAT and GST in India :: form 3cd :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4%
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Budget proposal on dividend set-off to stay
March, 11th 2008
Rejecting the industrys plea for allowing dividend set-off across multi-layered and multi-level corporate structures for the purpose of dividend distribution tax, the Finance Minister, Mr P. Chidambaram, has said that he does not see merit in bending the tax laws to encourage such structures. Budget 2008-09 proposes to allow such set-off for one layer only.

Nobody has told me why should there be multi-layered companies. If you search your heart, you know you are not really speaking for multi-layered operation companies, your plea is on behalf of multi-layered shell companies that are simply created and operated from one desk and by one man just as a tax shelter, Mr Chidambaram said at a post-Budget gathering of industrialists here.

He made it clear that it was not the Governments intention to encourage inter-locking holdings and multi-layered multi-level companies where it is all controlled at one point, but for the purpose of tax shelters such structures are created.

Mr Chidambaram said that the dividend set-off has been proposed for one layer in response to a felt need that many projects are undertaken by special purpose vehicles (SPVs).

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

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