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: form 3cd :: list of goods taxed at 4% :: cpt :: VAT Audit :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS
Direct Tax »
 CBDT issues final rules for taxing share-buyback
 The direct tax collections up to September, 2016 are at Rs. 3.27 lakh crore which is 8.95% more than the net collections for the corresponding period last year.
 IDS is tremendous success: CBDT chief Rani Singh Nair
 Submit monthly data of appeals disposed of: CBDT to officers
 Direct tax mop-up jumps 9 per cent in H1, indirect tax up 26 per cent
 Income tax department slams notice on five Mumbai-based exporters over offshore accounts
 Redress TDS mismatch grievance of taxpayers: CBDT
 Tax department changes rule for accommodating deductions for deferred spectrum payment
 Tax dept renotifies income computation, disclosure standards
 Sushil Chandra to be the next CBDT chief
 CBDT will use data from Project Insight to widen tax base: Rani Singh Nair

Introduce anti-avoidance rules only after Direct Taxes Code: Assocham
April, 25th 2012

Industry chamber Assocham has urged the Government to defer the introduction of the proposed anti-avoidance rules, popularly known as GAAR, till the implementation of the new Direct Taxes Code (DTC).

The Finance Bill 2012 proposes to introduce General Anti-Avoidance Rules (GAAR) provisions, which were originally slated to be part of the DTC.

Rather than introducing GAAR through the Finance Bill 2012, the Government should wait for the implementation of DTC for its introduction, Mr Ved Jain, Chairman of Assocham's National Council on Direct Taxes, said at a press conference here.

The Finance Bill 2012 is pending before Parliament and may be passed during the second leg of the Budget session beginning on April 24.

Mr Jain said that the onus should be on the tax authorities to prove that there has been tax avoidance. According to the current GAAR proposals, the onus is on the taxpayer to prove genuineness of the transactions. He pointed out that the Standing Committee on Finance had also recommended that the onus should be on tax authorities.

He felt that the Government should revisit all double tax avoidance agreements (DTAAs) and ensure the limitation of benefit clause is inserted in all of them. This would be a better approach than the proposed move allowing GAAR to override treaty benefits, Mr Jain claimed.

In its post-Budget memorandum, submitted to the Finance Ministry a few days ago, the chamber also suggested that domestic transactions between related parties should not be subject to transfer pricing regulations.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

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