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CA Jinesh R. Bhagdev

Latest Articles


Understanding Specified Domestic Transaction Provisions

Income Tax : SDT includes payments to related parties, inter-unit transfer of goods or services of profit linked tax holiday-eligible units, tr...

September 4, 2018 59810 Views 0 comment Print

MCA issues Circular on Applicability of PAN requirement for Foreign Nationals as Director of Company at the time of Incorporation

Company Law : As per this circular, PAN is compulsory for a Foreign National who is a subscriber / promoter at the time of incorporation of the ...

June 10, 2014 6585 Views 2 comments Print

CBDT Amends Format of Form 3CEB – More reporting compliance by the Auditors

Income Tax : In pursuance of the changes made by the Finance Bill 2012 bringing specified domestic transactions under the ambit of Transfer Pri...

June 14, 2013 8194 Views 0 comment Print

CBDT Press Release explaining Advance Pricing Agreement Scheme & its benefits

Income Tax : CBDT Explains APA through a press release. Indian APA Scheme Notifies Three Types of APA unilateral, bilateral and multilateral. P...

September 1, 2012 436 Views 0 comment Print

CBDT Releases Transfer Pricing ‘Advance Pricing Agreement Scheme’ (APA)

Income Tax : Vide Notification No. 36 of 2012, in exercise of the powers conferred by sub-section (9) of section 92CC read with section 295 of ...

September 1, 2012 433 Views 0 comment Print


Latest News


Australia Transfer Pricing Legislation Approved

Income Tax : The Australian Senate has passed legislation on the application of transfer pricing rules, designed to ensure that multinational c...

August 22, 2012 447 Views 0 comment Print

Australia amends ‘Cross-Border Transfer Pricing’ law wef 01.07.2004

Income Tax : Australian Finance Ministry passes Tax Law Amendment (Cross Border Transfer Pricing Bill) Act (No. 1) 2012 with retrospective 01 J...

June 20, 2012 699 Views 0 comment Print


Latest Judiciary


Bad-Debts Cannot be relevant factor to determine ALP of royalty transaction between licensor & licensee

Income Tax : Whether on facts and circumstances of the case and in law, the ITAT was justified in deleting the disallowance made of royalty pai...

July 20, 2012 501 Views 0 comment Print

Section 206AA not applicable to persons having income below taxable limits

Income Tax : In a writ petition filed by small investors, Karnataka High Court Held that provisions of Section 206AA of the Income Tax Act are ...

June 20, 2012 5505 Views 0 comment Print


Latest Posts in CA Jinesh R. Bhagdev

Understanding Specified Domestic Transaction Provisions

September 4, 2018 59810 Views 0 comment Print

SDT includes payments to related parties, inter-unit transfer of goods or services of profit linked tax holiday-eligible units, transactions of profit-linked tax holiday-eligible units with other parties and any other transaction that may be notified by the Central Board of Direct Taxes.

MCA issues Circular on Applicability of PAN requirement for Foreign Nationals as Director of Company at the time of Incorporation

June 10, 2014 6585 Views 2 comments Print

As per this circular, PAN is compulsory for a Foreign National who is a subscriber / promoter at the time of incorporation of the company. However, if the Foreign National does not possess a PAN, then he / she is required to furnish a declaration / undertaking in prescribed format as an attachment to Form INC – 7 at the time of incorporation of the company.

CBDT Amends Format of Form 3CEB – More reporting compliance by the Auditors

June 14, 2013 8194 Views 0 comment Print

In pursuance of the changes made by the Finance Bill 2012 bringing specified domestic transactions under the ambit of Transfer Pricing Regulations, CBDT has amended the format of Form 3CEB vide notification number 41 dated 10 June 2013. The said notification also amends Rule 10A, 10AB, 10B, 10C, 10D and 10E. 

CBDT Press Release explaining Advance Pricing Agreement Scheme & its benefits

September 1, 2012 436 Views 0 comment Print

CBDT Explains APA through a press release. Indian APA Scheme Notifies Three Types of APA unilateral, bilateral and multilateral. Press Release clarifies that the choice is on the applicant to choose a particular type of APA at the time of making the application.

CBDT Releases Transfer Pricing ‘Advance Pricing Agreement Scheme’ (APA)

September 1, 2012 433 Views 0 comment Print

Vide Notification No. 36 of 2012, in exercise of the powers conferred by sub-section (9) of section 92CC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes releases Advance Pricing Agreement Scheme. The advance pricing agreement scheme shall be governed by Rules 10F to Rule 10T.

Australia Transfer Pricing Legislation Approved

August 22, 2012 447 Views 0 comment Print

The Australian Senate has passed legislation on the application of transfer pricing rules, designed to ensure that multinational companies pay their ‘fair share’ of tax. The Tax Laws Amendment (Cross-Border Transfer Pricing) Bill (No. 1) 2012 was put forward before the house of Representatives in June 2012.

Transfer Pricing & Role of Company Secretary

August 20, 2012 4296 Views 0 comment Print

The prima-facie role of a Company Secretary is to identify all the AEs with whom the Company has transacted during the year. There are likely chances that some of the entities which are falling under the deeming fiction might go unnoticed to the auditors. The consequence of non-reporting of a transaction is as high as 2 % of the total value of transaction that went unreported. Further, penalty proceedings can also be initiated for concealment of true facts and disclosure under section the Income Tax Act.

Bad-Debts Cannot be relevant factor to determine ALP of royalty transaction between licensor & licensee

July 20, 2012 501 Views 0 comment Print

Whether on facts and circumstances of the case and in law, the ITAT was justified in deleting the disallowance made of royalty paid by the respondent to CAMI USA for distribution of software products in India without appreciating that the royalty had been paid on the amount of bad debts even where the software had not worked at all?”

Transfer Pricing – Specified Domestic Transaction – Whether an area of concern?

June 20, 2012 4455 Views 0 comment Print

Transfer pricing until now was applicable to companies having cross border transactions with their ASSOCIATED ENTERPRISE. However, Finance Bill 2012, honoring the supreme court ruling in case of CIT vs. M/S Glaxo Smithkline Asia (P) Ltd. (Special Leave to Appeal (Civil) No(s).18121/2007), expanded the ambit of transfer pricing to specified domestic transactions w.e.f 01 April 2013.

Australia amends ‘Cross-Border Transfer Pricing’ law wef 01.07.2004

June 20, 2012 699 Views 0 comment Print

Australian Finance Ministry passes Tax Law Amendment (Cross Border Transfer Pricing Bill) Act (No. 1) 2012 with retrospective 01 July 2004. The Tax Law Amendment (Cross Border Transfer Pricing Bill) Act (No. 1) 2012 was passed by the house of representatives without amendments on 19 June 2012.

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