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: due date for vat payment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: form 3cd :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

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