« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  New tax return form to make life 'saral'... Leg-up to bank mergers?... » IFA plans high-end courses on global taxation October, 07th 2006 International Tax Academy to be operational before end of this fiscal. -------------------------------------------------------------------------------- Armed with info Through the Academy, the IFA proposes to offer high-end crash courses as well to Indian tax practitioners on various issues such as tax credits, transfer pricing and service tax. -------------------------------------------------------------------------------- In a bid to equip Indian tax professionals with the fast changing nuances of cross-border tax matters in the backdrop of globalisation, the Indian chapter of the International Fiscal Association (IFA) is chalking out a programme to come out with high-end courses on cross-border taxation issues. Talking to reporters on the sidelines of a daylong seminar on `Tax Credits, Service Tax & Transfer Pricing' here on Thursday, the IFA Hyderabad Sub Chapter Chairman, Mr P.V.S.S. Prasad, said the Indian body of the IFA was currently setting up an International Tax Academy in New Delhi, which would be operational before the end of this fiscal. Through the Academy, the IFA proposed to offer high-end crash courses to Indian tax practitioners on various issues such as tax credits, transfer pricing and service tax, Mr Prasad said. Imperative need According to the IFA Hyderabad Sub Chapter Secretary, Mr V. Jawahar, it has become imperative for tax practitioners to update themselves on the latest changes in global tax laws in view of the growing services sector in the country, with services exports across different tax jurisdictions, including business process outsourcing (BPO) and knowledge process outsourcing (KPO) businesses. In the era of growing inbound and outbound investments, issues such as taxation of income in the source country and the corresponding claim of tax credit in resident country become critical. Tax practitioners have to administer tax credits as per the treaty provisions, Mr Prasad said. Reaping opportunity Earlier, addressing the seminar, the Chairman and Managing Director of Vimta Labs Ltd, Dr S.P. Vasireddi, stressed the need for Indian entrepreneurs and tax practitioners to keep track of the latest happenings in global taxation matters so as to effectively reap the benefits of growing cross-border trade opportunities. Advising Indian entrepreneurs not to accept any terms simply for the sake of obtaining global contracts, he asked them to take adequate legal inputs towards ensuring right contracts. "The world cannot go anywhere than come to India and China. So, be smart in grabbing the opportunities by being up-to-date on international tax and transfer pricing matters. Not being updated and not complying with these vibrant global tax laws could prove costly for businesses," Dr Vasireddi said.