Discover how the OECD’s introduction of Pillar One Amount B in 2024 streamlines transfer pricing for marketing and distribution, enhancing fairness and compliance for multinational enterprises.
Increase in safe harbour limit of 5% under section 43CA, 50C and 56 of Income Tax Act, 1961 to 10% Section 43CA of the Income Tax Act, inter alia, provides that where the consideration declared to be received or accruing as a result of the transfer of land or building or both, is less than […]
Justification of provisions relating to tax audit in certain cases As per Section 44AB of the Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover or gross receipts, in business exceeds one crore rupees in any previous year. In case of a person carrying on profession, […]
‘Equalization Levy’ has been recognized and accepted in the BEPS Report on Action 1 as one of the options that can be resorted to by countries under their domestic laws.