Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: form 3cd :: empanelment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD
« News Headlines »
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018
 Why you shouldn't be a last-minute tax filer
 How to calculate income tax for this assessment year on Moneycontrol
 6 Tax notices you may get and how to cope with them Income Tax Notice
 Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide
  Central Goods and Services Tax (Second Amendment) Rules, 2018
 Income Tax Return Filing Deadline: Waiver On LTCG Tax To End On 31 March. Details Here
 Income tax returns (ITR) filing: Top mistakes that can be very costly
 Income Tax Return (ITR) filing: 6 last-minute things you can still do to save tax for FY17-18

Laws to curb tax evasion likely
August, 07th 2007
The government is planning to bring in strict laws to check cross-border tax evasion, often achieved through special transactions.

Under the proposed legislation, any transaction carried out primarily to evade tax will be denied the benefits extended by the double taxation avoidance agreement (DTAA); instead, such transactions will be governed under the domestic tax. It will also cover the practice of registering companies in tax havens.

Many developed countries, including the United States and the United Kingdom, have already enacted laws to contain tax evasion through artificial transactions.

In the US, tax havens have already become a major presidential election issue .
The laws in these countries unambiguously support their revenue departments to deny the tax benefits to such transactions, while ensuring that genuine commercial transactions are not blocked.

According to unofficial estimates, the tax havens hide nearly $12 trillion, a major part of which is due to tax evasion. The tax that could have been generated on hidden funds is estimated a $250-300 billion.

The finance ministry has received proposals to enact stricter laws by the committees set up for framing the new tax code and also by the International tax division of the Income-tax department.

The International tax division of the Income-Tax Department has faced serious problems in its attempt to tax the capital gains arising from the recent mergers and acquisitions involving Indian and foreign companies.

Since some of the investments in such cases were routed through companies registered in tax havens, the department lacked the legal footing to make water-tight demand on these companies, though it had served the notices.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

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