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 INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: due date for vat payment :: Central Excise rule to resale the machines to a new company
 
 
Direct Tax »
  CBDT to waive interest if tax demand paid in retro cases
 No relief to those who defaulted on 1st IDS installment: CBDT
 6 tax tasks you should finish by March 31
 CBDT to waive interest if tax demand paid in retro cases
 CBDT to waive interest if tax paid in retrospective cases
 New move to settle retrospective tax cases, CBDT offers interest liability waiver to firms
 I-T department guidelines for interest waiver in specific cases offer tax relief
 ICDS provisions to prevail over judicial precedents: CBDT
 CBDT forms committee to check absconding I-T dept officers
 Central Board of Direct Taxes asks taxman to make all out efforts to recover arrears
 CBDT to honour honest taxpayers

JPC upset over I-T's tardy pace of 2G scam probe
September, 09th 2011

The pace of income-tax inquiries into the 2G telecom scam seems to be glacial, with the department only arriving at part assessment of the Tata Group's tax liability of Rs 133 crore while liabilities of other players are still unclear.

Senior central board of direct taxes (CBDT) and finance ministry officials told the joint parliamentary committee (JPC) on telecom that Tata Telecom's operations have been assessed and some foreign firms that bought equity have accepted tax liabilities in India.

In its report on the status of investigations, the CBDT said it was looking at a significant mismatch between the price at which firms holding 2G licences sold equity to their own subsidiaries and share price foreign investors paid. There is a clear case of a tax dodge, officials felt.

Committee sources said the progress of investigations seems disappointing given that the scam has been under intense spotlight for more than a year. The Supreme Court-monitored probe has resulted in high-profile political and corporate arrests, but the I-T inquiry seems to be lagging.

JPC members are upset that authorities do not appear clear about how soon they will be able to provide even indicative figures of the tax dues of firms that benefitted from the spectrum allocation in 2008.

Norway's Telenor that partnered Unitech has agreed that it is liable to pay taxes. The liability of Telenor and three other firms is being examined. CBDT said it is probing payments made to foreign investors for equipment and services.

The committee also completed examination of former telecom secretary Anil Kumar with regard to the BJP-led national democratic alliance's tenure in office with Congress members posing tough questions about the objections raised to allowing operators to migrate from fixed fees to revenue sharing.

BJP's Yashwant Sinha pointed to the support of Congress MPs for the shift to revenue-sharing regime, while Kumar defended his actions as telecom secretary by pointing out that the sector grew rapidly, consumers had more choice and tariffs came down.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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