Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: form 3cd :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARDS :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment
 
 
Direct Tax »
 CBDT comes out with clarification on MAT for Ind AS companies
 No penalty for late ITR this year but here are 4 important reasons to file it in time
 12% growth in income tax collection
 CBDT gameplan to enhance TDS collection
 Don't curry political favours for transfers, CBDT tells taxmen
 CBDT: GST not to be added for TDS computation
 Five interest incomes you are likely to forget to include in your tax return
 GST not to be added for TDS computation
 GST not to be added for TDS computation
 Income Tax Return (ITR) Filing: Common Mistakes That Could Get You A Tax Notice
 Income Tax department asks tax practitioners to register entities separately

PM sets up panel to review taxation of development centres, IT
July, 30th 2012

Prime Minister Manmohan Singh has established a committee to review taxation policies that have a direct impact on software exporters, business process outsourcing (BPO) companies and technology development centres of multinationals in the country.

A file photo of Prime Minister Manmohan Singh.
The committee, led by N. Rangachary, former chairman of the Central Board of Direct Taxes, will look into issues of levying taxes on development centres, tax treatment of so-called onsite services of domestic software firms, and also finalise the safe harbour provisions announced in Budget 2010.
Safe harbour provisions are a proposed set of rules under which the income tax (I-T) department will accept the transfer price of international transactions declared by the company without a detailed scrutiny. Transfer price is the price at which one unit of a firm sells goods or services to another unit of the same company.

Development centres and BPO firms have been grappling with transfer pricing issues for several years, with companies claiming a significant proportion of their profits are stuck with the I-T department because of this.

Over 750 multinationals have such centres at over 1,100 locations in India.

Also, companies such as Infosys Ltd have been in the past slapped a tax demand of over Rs. 450 crore for claiming tax exemption on onshore services by declaring them as software exports. A few other companies have also received notices from the I-T department because of different interpretation of onshore activities. The industry has sought clarifications in this regard.

Singh had earlier set up an expert committee under Parthasarathi Shome, director and chief executive of think tank Indian Council for Research and International Economic Relations, to finalize guidelines for the contentious general anti-avoidance rules, whose proposed introduction with retrospective effect in this years budget evoked protests from foreign investors.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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