Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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
 
 
 
 
Popular Search: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Direct Tax »
 Pune region tops in direct tax kitty growth
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months

Budget 2014: CBDT committee to be set up to decide on fresh tax disputes on transfer pricing
July, 12th 2014

In a move to clear ambiguities related to retrospective amendments on transfer od asset pricing, the Finance Minister Arun Jaitley has proposed to set up high level Central Board of Direct Tax (CBDT) committee to decide on fresh cases arising out of the 2012 amendment of Income Tax (I-T) Act.

Clearing the air that the government will not bring any change retrospectively which creates a fresh liability, the finance minister said that the sovereign right of the government to undertake retrospective legislation in unquestionable. "However, this power has to be exercised through extreme caution and judiciousness keeping in mind the impact of each such measure on the economy and the overall investment climate," said Jaitley in his speech.

"As a policy measure, the announcement to not levy taxes on retrospective basis for indirect transfer of Indian assets is positive," said Sanjay Sanghvi, Tax Partner, Khaitan & Co. "The general expectation from the Government was that it will 'withdraw' the controversial retrospective amendment made to income tax law in 2012. While that does not seem to be happening, as a second best option, the Government will set up CBDT Committee that will look into tax disputes arising out of retrospective amendment and provide necessary guidance to tax officers."

According to Finance Minister, the consequent upon the retrospective amendment of the I-T Act, 1961, undertaken by Finance Bill of 2012, a few cases have come up in various courts and legal fora.

"These cases are at various stages and will naturally reach their logical conclusion," said the finance minister said and added that the BJP-led NDA government is committed to providing a stable and predictable taxable regime which would be investor friendly.

However, on a different note, tax experts also said that the crucial aspect here will be the 'parameters/principles' that will be applied by the CBDT in guiding the tax officers.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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