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 STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: due date for vat payment :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: TDS :: form 3cd
 
 
General »
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers
 Tax headache in India is a bonanza for global accounting firms
 Activities To Be Treated As Supply Even If Made Without Consideration Under CGST ACT
  Haryana Goods and Services Tax Bill passed

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