Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for taxation of long-term capital gains. The responses to these queries are provided below.
The concept of Business connection under the domestic tax laws is akin to concept of PE in international parlance. The term ‘business connection’ includes activities carried on by non-resident through its dependent agents. Presently, a person acting on the behalf of the non-resident by negotiating and concluding contracts, maintaining stock of goods in India or habitually securing orders in India mainly or wholly for the non-resident would constitute its dependant agent in India.
The Central Bureau of Investigation has arrested a Commissioner (an IRS Officer of 1986 Batch), GST & Central Excise, Kanpur (Uttar Pradesh); two Superintendents & an official, all working in GST & Central Excise Commissionrate
Article deal with recent Rumors in Social Media that If Income Tax Return not filed within due date, the entire Chapter VIA deductions will not be allowed which includes some of the Popular deduction i.e. Section 80C, Section 80D, etc. Some have even called it as hidden Bomb of Union Budget 2018. By this article I would like to clarify that Finance Budget 2018 has not made any changes in relation to claim of such deductions.
Can there really be acche din in a country with taxes? Well, the tax policy of a country bears the answer. The Trump reforms has set a glaring example of how a Sovereign Government can work to prevent base erosion of valuable resources and jobs and make tax heavens a no preferred choice for businesses. That’s an example of Acche Din
M.J. AkbarIt requires deep reserves of contempt for the poor to dismiss a man who sells savories on the roadside as nothing more than a beggar. The political leader who made such an instinctively disparaging comparison is a stalwart of the Congress Party, former finance minister P. Chidambaram.
