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: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES
 
 
Direct Tax »
 Best 5 Income Tax-Saving SIP plans in India: How To save taxes by Investing in SIPs under 80C
 Tax refund checks are finally in the mail
 Income Tax dues in advance can be paid at RBI or at authorised bank branches by March 2017
 Why you must be looking beyond tax planning
 I-T dept. to lauch app for paying tax
 CBDT to taxman: Step up TDS survey operations to boost collections
 Tax Officers Asked To File Self-Appraisal Report On E-Assessment
 CBDT to taxman: Step up TDS survey ops to boost collections
 Govt to issue exemption list on new tax for unlisted firms
 CBDT issues third round of certificates to tax payers
 Central Board of Direct Taxes (CBDT) signs four more unilateral Advance Pricing Agreements (APAs)

CBDT eases taxation norms for bonds, debentures held by companies
March, 28th 2016

According to experts, it will also put an end to litigation between tax authorities and companies with regard to the date of acquisition for the purpose of computation of capital gains tax.

CBDT in a notification said that "in the case of a capital asset, being a share or debenture of a company, which becomes the property of the assessee... there shall be included the period for which the bond, debenture, debenture-stock or deposit certificate was held by the assessee prior to the conversion".

There have been disputes on this front, with the revenue authority insisting that the date of conversion of debentures into shares was a relevant date while the assessees wanted that the capital gains should be computed from the period of acquisition of the financial asset.

KPMG (India) Partner Tax Vikas Vasal said this clarification is a welcome move and will avoid disputes on the period of holding for determining capital gains.

"The clarification will help in mergers and acquisitions, besides promoting ease of doing business, wherein various instruments are issued to meet the requirements of the investors," Vasal said.

"There will also be greater certainty about taxation based on the period of holding of the specified financial instruments, which had been a subject of litigation between revenue department and assessee."

Nangia & Co Managing Partner Rakesh Nangia said such measures of the government to reduce tax litigation without significantly impacting the revenue collection would lead to "a tax-simplified India".

"Predictability and certainty in tax laws infuse the much-needed confidence in taxpayers, both domestic and foreign, and shall have a ripple effect on the growth of Indian economy as a whole," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

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