Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Direct Tax »
Open DEMAT Account in 24 hrs
 Income tax exemption: 4 financial instruments you can still invest into before March 31
 CBDT drops small tax demands but not TCS, TDS claims
 ITR Refund: Awaiting money from Income Tax? Here's why you have not yet received your amount
 Income Tax Notice: What to do if you receive a Section 143 (1) notice from taxman?
 Average tax return processing time cut to 10 days: CBDT
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
 ITR filing: Do these advance preparations before filing your income tax return
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
 ITR filing: Tax rules on income from house property that your should know
 CBDT likely to issue rules on angel tax next week
 Pension Taxation: Everything you need to know for ITR filing

CBDT issues notification, seeks suggestions to bring more transparency in cross-national transactions
May, 09th 2018

The Central Board of Direct Taxes (CBDT) on Saturday invited comments from stakeholders and general public on a draft notification that aims to bring greater transparency in cross-national transactions.

It said the comments need to be sent via e-mail before April 30.

A CBDT statement said that under Action 5 of the Base Erosion and Profit Shifting (BEPS) action plan, exchange of rulings is required to be done not only with the countries of residence of all related parties with whom taxpayer enters into transaction, but also with the country of residence of the immediate parent company and the ultimate parent company.

"Therefore, in order to implement the recommendations made under Action 5 of BEPS action plan to bring greater transparency in cross-national transactions, forms 34C and 34D (forms for advance rulings) are required to be modified so that details such as name, address and country of the residence of non-resident's immediate parent company or ultimate parent company etc. are captured at application stage itself," the statement said.

It added that a draft notification has been accordingly framed and uploaded on the website of the Income Tax Department for comments from stakeholders and general public.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting