foreign subsidiaries

As a first step towards simplifying and bringing about structural changes in direct taxes, the new Direct Taxes Code („Code?) Bill 2009 has been released for public debate. This is expected to be presented in the winter session 2009 of the Parliament. The Code, once enacted, is proposed to be effective from 1st of April 2011. Full Article

Jindal Thermal Power vs. DCIT (Karnataka High Court) The assessee entered into a contract with Raytheon – Ebasco, a foreign company, and two of its’ foreign subsidiaries, for commissioning of a power plant. The assessee made payments to Raytheon for rendering technical services, providing ‘start-up’ services and taking ‘overall responsibility’ for the Project. The two [...] Full Article