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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: list of goods taxed at 4% :: empanelment :: VAT RATES :: TDS :: cpt :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: form 3cd
 
 
« Direct Tax »
 Pune region tops in direct tax kitty growth
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months

CBDT eases taxation norms for bonds, debentures held by cos
March, 26th 2016

Seeking to simplify the procedure and promote ease of doing business, CBDT has said capital gains tax will be computed from the date of acquisition of financial instruments like bonds and debentures and not from the date of their conversion into shares.

Tax experts said the notification issued by the Central Board of Direct Taxes (CBDT) would facilitate mergers and acquisitions and promote investments.

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 2018 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