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: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: empanelment :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4%
 
 
Direct Tax »
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules
 What is TDS and how does it work?
 Income tax return: Do super senior citizens have to file returns?

Advisory Group on taxation, transfer pricing set up
May, 04th 2012

The Central Government, on Thursday, announced the setting up of a 13-member advisory group on international taxation and transfer pricing headed by the Revenue Secretary.

The advisory group, constituted by the Central Board of Direct Taxes (CBDT), will have representatives from the apex chambers of commerce and industry, the software industry association Nasscom, and the chartered accountants' institute ICAI.

According to a Finance Ministry statement here, apart from the Revenue Secretary, other members of the panel from the government side are CBDT Chairman Laxman Das, Director-General of Income-tax (DGIT) (International Taxation), and three joint secretaries in the Department of Revenue dealing with transfer pricing of which Joint Secretary (FT&TR-I) will be the Member-Secretary.

Representing the industry as members of the advisory panel are: Som Mittal of Nasscom, P. Y. Gurav of CII, Dinesh Kanabar of FICCI, Ved Jain of Assocham, Mahesh P. Sarda of ICAI, T. P. Ostwal of IFA India, and Mukesh Butani of ICC India.

It may be recalled that a committee under the chairmanship of DGIT (International Taxation) was set up to look into the issue of revising the transfer pricing provisions and its interim report, submitted some time ago, is under the government's consideration.

The issue has assumed significance in recent years as the transfer pricing mechanism is often misused by multinational entities to transfer profits to their subsidiary units in low or no tax countries. According to a Global Financial Integrity report, illegal transfer of funds through mispricing accounts for 77.6 per cent of the total illicit outflows.

Finance Minister Pranab Mukherjee had also pointed out, time and again, that the existing transfer pricing provisions were not adequate and there was a need to shore up the mechanism to tackle the challenges and complexities of modern day business arrangements.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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