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: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit
 
 
« News Headlines »
 Income-tax (17th Amendment) Rules, 2017
 GST: One nation, one market, one tax
 Ready or not, businesses brace for biggest-ever tax reform
 Ready or not, businesses brace for biggest-ever tax reform
 Make your inventory and invoicing software GST Ready from Binarysoft
 Filing income-tax returns gets simpler for salaried persons
 Ten rules you must follow while filing income tax returns
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules

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