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 :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARDS :: cpt :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit

Tax department calls on Microsoft India for understating income
April, 24th 2013

After Nokia and Royal Dutch Shell, the income tax (IT) department has sent a demand notice to software giant Microsoft's Indian arm, which said it has challenged the same.

IT department reportedly sent notice to Microsoft seeking details of its income from Indian operations for four years beginning with the 2005-06 fiscal.

Details have been sought about income from work done at Microsoft's Indian research and development sites on several softwares, which were marketed globally.

When reached for comments, Microsoft India said it has approached appellate forums for the resolution of the issue.

"Microsoft complies with the tax laws in each jurisdiction in which we operate. We are seeking relief against the transfer pricing (TP) adjustments through the appropriate appellate forums," it said in an e-mail statement.

The IT department notice reportedly does not quantify the amount of profits earned by its US-based parent Microsoft Corporation that are attributable to the work performed at its R&D centres in India.

The company said: "Since the matter is sub judice, we are unable to provide further details or comments regarding the same. We are hopeful that the Rangachary Committee recommendations on R&D Centers and Safe Harbours will help facilitate resolutions to TP litigations in the IT industry."

Last year, the government had set up a panel, headed by former Central Board of Direct Taxes (CBDT) Chairman N Rangachary, to address issues like approach to taxation of development centres, tax treatment of 'onsite services' of domestic software firms and those related to finalising Safe Harbour provisions.

Safe Harbour principles are international disclosure practices to check litigations in transfer pricing -- an accounting mechanism undertaken by MNCs to reduce their tax liabilities.

In March this year, the Indian subsidiary of the Finnish mobile phone maker Nokia was served the IT notice asking it to pay over Rs. 2,000 crore for alleged evasion of taxes in its business transactions in the country.

Similarly, tax authorities in February 2012 charged Shell India, part of Anglo-Dutch oil major Royal Dutch Shell, of under-pricing a share transfer within the group by Rs. 15,220 crore and consequently evading taxes.

The order relates to the issue of 8.7 crore shares by Shell India to an overseas company Shell Gas BV in March 2009.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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