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 VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: cpt
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

India sets up panel under ex-judge to review minimum tax claims
May, 21st 2015

India announced a committee on Wednesday headed by a former high court chief justice to suggest ways to resolve a dispute with foreign investors over previously untaxed gains that has rattled businesses.

The tax department has been demanding that foreign firms pay a minimum alternative tax on profits. They did not pay it earlier because it was widely believed that it only applied to domestic investors until a court ruled otherwise in 2012.

The government has said while the tax will not apply from April 1, 2015 onwards, past incomes will face the levy, a stand challenged by foreign investors.

On Wednesday the finance ministry announced that a panel headed by retired chief justice A.P. Shah would review the imposition of the minimum tax on transactions before April 1, 2015.

"The Committee will also examine all the related legal provisions, judicial/quasi judicial pronouncements and such other relevant aspects as it may consider appropriate," the finance ministry said in a statement.

Other members of the panel are Ashok Lahiri, a former chief economic adviser to the federal government, and Girish Ahuja, a chartered accountant.

The tax department has imposed retrospective MAT tax claims totalling 6.02 billion rupees ($93.8 million) on companies. Some firms have challenged the levy as well as the 2012 court ruling.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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