india tax

The Delhi government's proposal to hike value added tax (VAT) from 4% to 5% is seen running counter to the Centre's move to introduce the goods and services tax (GST) in a bid to bring about uniformity in the tax structure. The Sheila Dixit-led government's announcement came after tax collection for last fiscal came in at Rs 11,175 crore, down from Rs 13,000 crore the previous fiscal. Full Article

The Central Board of Direct Taxes (CBDT) had earlier issued a circular (Circular No. 23 dated July 23, 1969) clarifying the India tax liability of non-residents in respect of income accruing or arising through or from, a business connection in India. As per the aforesaid Circular 23, even if a business connection existed under section 9 of the Income-tax Act, 1961 (“the Act”), only so much of the profit which can be reasonably attributed to the operations of the busi.. Full Article

Speaking on the occasion, Dinesh Kanabar, PwC tax leader, India said, "It is a tremendous achievement and we are delighted to receive this award. The award is in recognition of our commitment towards partnering with our clients in one of the most difficult years of our time.” He added, “Our global experience of working with a diverse client base spread across economies has helped us gain new perspectives and develop inventive solutions.” Full Article