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
Latest Expert Exchange
« Transfer Pricing »
 CBDT proposes clear-cut timelines under transfer pricing
 Taxman disallows AMP deductions sought by MNCs
 Transfer Pricing Dispute Resolutions in India: New Relaxations
  CBDT to accept transfer pricing MAP sans riders
 Indian Subsidiary Held To Be A Dependent Agent PE – Transfer Pricing Study Considered Inadequate
  New rules to cut transfer pricing disputes
 Transfer pricing review and adjustments in Germany
 Indian advance pricing agreement uses customs value as arm’s length price
 Indian advance pricing agreement uses customs value as arm’s length price
  How advance pricing agreement helps India-Singapore business ties
 Doing business in India: ‘Substance’ over ‘form’ in transfer pricing regime

Committee to examine offshore funds' requests to set up India office
May, 30th 2016

The revenue department on Monday set up a three-member committee for recommending advance approval to offshore funds for setting up management office in India.

The committee will examine the application of overseas fund managers and submit its recommendations to the Central Board of Direct Taxes (CBDT) regarding grant of approval or otherwise.

"With the announcement of a three-member committee, the CBDT has now operationalised the framework for seeking an advance approval by offshore funds which set up their fund management office in India," said Rajesh H Gandhi, Partner, Deloitte Haskins and Sells.

Chief Commissioner of Income Tax or I-T (International Taxation), West Zone, Mumbai is Chairman of the Committee. CIT (International Taxation)-1, Mumbai and CIT (Transfer Pricing)-1 Mumbai are members. The committee will give its recommendations to the CBDT and the order of the CBDT will be binding on the tax authorities, Gandhi said.

"Funds seeking certainty on the tax treatment of their fund management business can choose to apply for an advance approval," he said. The Finance Act, 2015 inserted a new section to the Income-tax Act, 1961 with effect from April 1, 2016 to provide for a special regime in respect of offshore funds having fund managers located in India.

The rule, the Finance Ministry said provides for mechanism of fund being approved by the Board. The fund seeking approval is required to make an application to Member (I-T), CBDT.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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