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: VAT RATES :: articles on VAT and GST in India :: due date for vat payment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: VAT Audit
 
 
General »
 Advance tax payout by top cos grows just 2% in Sept quarter
 Why abolishing personal income tax may not be a good idea
 Questions about the GST cess
 How to prepare for the looming tax-extension deadline
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
 Haryana to set up scrutiny panel on GST benefits
 Waive certain taxes for companies in insolvency proceeding
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
 All eyes are on GST as Centre plans higher social pension
 Exporters demand total exemption from GST
 Here's what you must know to stay clear of taxman

Tax case: SC asks Nokia to sumbit valuation of Indian asset
March, 14th 2014

The Supreme Court today said that it wants to find some sort of an amicable solution that is acceptable to both Nokia and the Income Tax (I-T) department and that it wants to protect the interests of both the parties.

For this, Nokia has been asked to submit a report of valuation of its India entities because the Supreme Court wants to make sure that even after the Microsoft deal goes through, there is sufficient amount that can secure the interests of the I-T department. Once Nokia comes back with the valuations, an upfront amount they said approximately would be in the range of Rs 2700-3000 crore for its India operations, a view is going to be taken up by the Supreme Court.

The I-T department reiterated that there is at least tax liability of Rs 10000 crore against Nokia and that the company must be asked to submit a bank guarantee and not just an undertaking.

It also wanted Nokia Finland to submit an assurance. To which the Supreme Court said that Nokia Finland, which is a holding company cannot be forced to protect the interest of the subsidiary.

The apex court also pointed out that Rs 3500 crore, which was paid by Nokia India to Nokia Finland by way of dividends cannot be brought back simply because it is the right of the subsidiary to pay dividend to the holding company.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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