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New tax evasion rule not retroactive - sources
By Manoj Kumar NEW DELHI (Reuters) - India will not retroactively tax portfolio investments and will shift the burden of proving evasion on tax to authorities, two government sources said on Thursday, providing a measure of comfort to foreign investors worried about proposed new rules. Overseas investors have been critical about a set of proposals India unveiled as part of its budget for the fiscal
By Manoj Kumar NEW DELHI (Reuters) - India will not retroactively tax portfolio investments and will shift the burden of proving evasion on tax to authorities, two government sources said on Thursday, providing a measure of comfort to foreign investors worried about proposed new rules. Overseas investors have been critical about a set of proposals India unveiled as part of its budget for the fiscal
Told Vodafone about tax liability, maintains FinMin
Refuting reports that Vodafone was not warned about the liability before the deal with Hutchison in 2007, the finance ministry today reiterated it had informed Vodafone about its tax liability, but
ASSOCHAM calls for clarity on TCS
New Delhi, Apr 30 (IBNS) Industry chamber ASSOCHAM on Monday urged finance minister Pranab Mukherjee to modify proposed provisions of tax collection at source (TCS) to exempt the business of power generation while purchasing main raw material like coal and lignite.
New Delhi, Apr 30 (IBNS) Industry chamber ASSOCHAM on Monday urged finance minister Pranab Mukherjee to modify proposed provisions of tax collection at source (TCS) to exempt the business of power generation while purchasing main raw material like coal and lignite.
Amendments in transfer pricing provisions need to be reviewed
Transfer Pricing (TP) Provisions were introduced in India by the Finance Act 2001. The TP Provisions were introduced with an intent to protect India’s right to collect a fair share of tax in
Sharp rise in money locked in I-T cases
The quantity of money locked in income tax disputes has seen a sharp rise in 2011, with more aggression by the tax department. The disputed amount jumped from Rs 2,43,603 crore to Rs 4,36,741 crore
The quantity of money locked in income tax disputes has seen a sharp rise in 2011, with more aggression by the tax department. The disputed amount jumped from Rs 2,43,603 crore to Rs 4,36,741 crore
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