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: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: form 3cd :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS
 
 
« News Headlines »
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it

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 2017 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