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: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: form 3cd :: articles on VAT and GST in India :: TDS :: empanelment :: VAT Audit :: due date for vat payment :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 How to Make Tax Saving Investments Less Taxing with an SIP in ELSS
 NRIs having only investment income may not file tax returns
 With income tax returns filing deadline near, here are 3 major things to do before March 31
 When public becomes tax gatherer

CBDT panel to scrutinise new cases of retrospective taxation
September, 03rd 2014

The Central Board of Direct Taxes (CBDT) has set up a high-level committee to scrutinise fresh cases arising out of the retrospective amendments of 2012 in respect of indirect transfers.

The four-member committee will look into all such cases coming to the notice of the assessing officer and give its views before any action is initiated by the Income-Tax Department.

The members of the committee include joint secretary (FT&TR-I), joint secretary (TPL-1) and commissioner of income-tax. The director (FT&TR-1) will be the secretary of the panel.

In his budget speech in July, finance minister Arun Jaitley had announced that all fresh cases arising out of the retrospective amendments of 2012 in respect of indirect transfer and coming to the notice of the assessing officer will be scrutinised by a high-level committee to be constituted by CBDT before any action is initiated.

“Henceforth, in all fresh cases where income on account of retrospective amendments to the provisions related to indirect transfer is considered to accrue or arise before April 1, 2012, the assessing officer shall be required to seek prior approval of any proposed action in this regard from the committee,” a finance ministry statement said.

In budget 2012-13, the then finance minister Pranab Mukherjee had proposed changes in India’s 50-year-old tax laws to impose a retrospective provision for tax on some types of international mergers including Vodafone’s 2007 acquisition of Hutchinson’s mobile assets in India for $11.1 billion (about `66,000 crore currently).

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

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