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% :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: ACCOUNTING STANDARD :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: articles on VAT and GST in India :: cpt
 
 
News Headlines »
 What to do if you get an income tax notice after demonetisation
 SBI calls for raising income tax exemption limits
 Did you know? The tax exemption on your HRA
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA

Five things Narendra Modi's government needs to do about corporate tax
May, 17th 2014

While the new government needs to take many steps to restore investor's confidence, here are five things on the income-tax front that merit their immediate attention.

1. Certainty in tax policy is the hall mark of any matured economy. In general, the businesses want to pay tax and comply with the law of the land; however, what bothers them is the huge uncertainty in the Indian tax system especially the retrospective changes in tax law. It is imperative that tax policy, as is understood and interpreted at a particular point in time is respected and changes, if any, are brought only prospectively, barring few exceptions.

2. Transfer Pricing disputes have become a huge burden for the foreign companies. No doubt, government needs to collect its due taxes, however, there is surely something wrong when almost every large foreign company is entangled into multi-million dollar tax disputes. This is a serious concern and needs to be addressed.

3. Clarity on new rules: Many of the recent changes in the tax law require clarity. A case in point is taxability arising on indirect transfer of shares, if the 'substantial value' of assets is situated in India. Now, what constitutes 'substantial value' has not been clarified. Like this, there are many other tax provisions that require clarity.

4. Compliance requirements for foreign companies for payments received from India like Royalty etc. needs re-consideration. The current compliance provisions like obtaining a Tax Residency Certificate from foreign tax authorities, PAN etc. have not only increased the cost of compliance; but have also increased the overall cost of doing business with / in India.

5. Widen the tax base: Instead of merely focusing on the miniscule percentage of companies/population that file's its tax return and pays tax. The focus should be to widen the tax base and bring in larger section of the society in the tax net.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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