Latest Expert Exchange Queries
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: empanelment :: articles on VAT and GST in India :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: list of goods taxed at 4%
 
 
General »
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
 SH. VISHWA NATH GUPTA Vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL, KANPUR AND ANR.
 No tax scrutiny of big transaction if it matches income
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.
  Home loan tax reliefs often missed by taxpayers
 Income tax department launches online facility for linking Aadhaar and PAN
 Home loan tax reliefs often missed by taxpayers

Nominate only senior officials to handle big tax demands: Government to revenue department
August, 31st 2015

In the backdrop of ongoing high profile tax disputes involving blue-blooded multinational corporations (MNCs) like Vodafone, Cairn and, more recently, E*Trade Financial Corp, the government has told the revenue department to nominate only senior officials to handle big tax demands in an effort to avert further controversies

About a fortnight ago, the finance ministry asked all principal chief commissioners of the income tax department to stop sending officers below the level of additional or joint commissioners for representation before the Authority for Advance Rulings (AAR), a quasi-judicial forum to consider tax disputes involving overseas entities.

"The quality of representation before AAR is an important aspect," Tatung Padi, undersecretary at the ministry, wrote in a circular dated August 18. "It has been brought to the notice of the CBDT that many a time officers of the level of deputy or assistant commissioner of income tax are being nominated for representing cases before the AAR, who are not able to effectively resent the departmental views on complex issues."

Similar to other forums including the Income Tax Appellate Tribunal, Securities Appellate Tribunal and the recently formed National Green Tribunal, AAR's rulings can only be challenged in high courts. Any non-resident individual or company trying to set up a joint venture in India in partnership with a non-resident or a wholly-owned subsidiary of a foreign company can approach the AAR to ascertain its tax liability.

Legal experts see the decision as a positive move in line with Prime Minister Narendra Modi's efforts to make it easier to do business in India. Senior representations from the tax department would mean less adjournments and speedy disposal of applications, thereby enhancing sentiments and confidence of foreign investors.

"The AAR deals with complex issues pertaining to taxability or otherwise of cross-border transactions in the case of non-residents," said Sameer Gupta, partner and tax leader, financial services, at EY.

"Over the years, as FDI flows have increased, securing tax certainty on cross-border business/investment transactions has become a prerequisite for multinational corporations. To that extent, requiring senior tax officials to represent in the AAR is a step in the right direction," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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