tax implications

# As per the Development Control Regulations of the Municipal Corporation of Greater Bombay, 1991 (‘DCR’), in the case of redevelopment of existing buildings, an additional FSI is granted tothe land owner. The additional FSI can be utilised in the following manner: Full Article

One of the most widely contested issues by Indian tax authorities during a transfer pricing audit is the amount paid for intra-group services to group companies often referred to as management or intra-group fees/charges. In fact, compensation for intra-group services has been one of the important transfer pricing challenges globally for taxpayer and authorities alike. Full Article

Making clear its commitment to converge Indian accounting norms with International Financial Reporting Standards (IFRS) by 2011, the government on Wednesday said all concerns of the industry would be addressed before convergence takes place. “We stand by our commitment to converge the Indian accounting norms with the IFRS and have synchronised the views of all stakeholders,” corporate affairs ministry secretary R Bandyopadhay said at a CII event. Full Article

IDS Software Solutions vs. ITO (ITAT Bangalore) Where the assessee entered into a ‘secondment agreement’ with a US Company and obtained the services of an employee and the question arose whether the reimbursement by the assessee to the US Company of the salary paid by the US Company was chargeable to tax as “fees for [...] Full Article

The Income Tax (I-T) department has recalled a 2002 investigation report against the promoters of Satyam that had details of a probe conducted by I-T sleuths on family members and associates of B Ramalinga Raju in Hyderabad. Not believing the confession of Raju that the company was left with no cash, and with investigations pointing [...] Full Article