deloitte

Budget 2018 – Goodies to allure corporate sector

Income Tax - Budget 2018 could have led to a recent stock market rally of the investors to protect tax on long term capital gains, albeit it is benevolent foremost to the rural agrarian sector, followed by corporate sector with 25% corporate tax rate for financial year 2018-19 (applicable to the domestic companies having annual turnover below Rs. 250 ...

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Taxing conversion of stock into capital asset: A re-look needed?

Income Tax - Capital assets and inventory are treated differently for the purpose of taxation and are governed by distinct provisions. As a result, classification of assets has often been a subject matter of challenge by the tax authorities. So also, a change in this classification by the taxpayer....

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ICDS – A Roller Coaster Ride!

Income Tax - The journey of ICDS has been an interesting roller coaster ride – first introduced, then deferred, then partly struck down by Delhi High Court and now with a re-birth under the Act, that too with retrospective effect from AY 2017-18....

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Business Connection – A modified Permanent Establishment Rule!

Income Tax - India, amongst various countries, participated in the signing of the Multilateral Instrument (MLI) on 7 June 2017, to implement tax treaty related measures as a part of the various Base Erosion and Profit Shifting (BEPS) related Action Plans....

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Another one bites the dust!! Finance Bill 2018 proposes to nullify yet some more important judicial precedents!!

Income Tax - In the year 2012, the then Government had introduced retrospective amendments to the Indian Income- tax Act in order to nullify the decision rendered by the Apex Court in the case of Vodafone International Holdings B.V. vs Union of India with regard to taxation of indirect transfer of shares....

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13 Decisions taken on Services at 20th GST Council Meeting

Income Tax - Job work services in respect of the textiles and textile products (including MMF yarn, garments, made-ups, etc. falling in Chapters 50 to 63). Services by way of printing of newspapers, books (including Braille books), journals and periodicals where only content is supplied by the publisher and the physical inputs including paper used fo...

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Under-construction properties get costlier from 1st July 2010

Income Tax - Costs rise from 1st July 2010 for buyers of under-construction properties due to the imposition of a service tax on builders. Last week, the Central Board of Excise and Customs notified that a service tax of 10 per cent would be levied on the gross value (Excluding abatement) of a housing property under construction from July 1. Only prop...

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Recent Posts in "deloitte"

Budget 2018 – Goodies to allure corporate sector

Budget 2018 could have led to a recent stock market rally of the investors to protect tax on long term capital gains, albeit it is benevolent foremost to the rural agrarian sector, followed by corporate sector with 25% corporate tax rate for financial year 2018-19 (applicable to the domestic companies having annual turnover below Rs. 250 ...

Read More
Posted Under: Service Tax |

Taxing conversion of stock into capital asset: A re-look needed?

Capital assets and inventory are treated differently for the purpose of taxation and are governed by distinct provisions. As a result, classification of assets has often been a subject matter of challenge by the tax authorities. So also, a change in this classification by the taxpayer....

Read More
Posted Under: Service Tax |

ICDS – A Roller Coaster Ride!

The journey of ICDS has been an interesting roller coaster ride – first introduced, then deferred, then partly struck down by Delhi High Court and now with a re-birth under the Act, that too with retrospective effect from AY 2017-18....

Read More
Posted Under: Service Tax |

Business Connection – A modified Permanent Establishment Rule!

India, amongst various countries, participated in the signing of the Multilateral Instrument (MLI) on 7 June 2017, to implement tax treaty related measures as a part of the various Base Erosion and Profit Shifting (BEPS) related Action Plans....

Read More
Posted Under: Service Tax |

Another one bites the dust!! Finance Bill 2018 proposes to nullify yet some more important judicial precedents!!

In the year 2012, the then Government had introduced retrospective amendments to the Indian Income- tax Act in order to nullify the decision rendered by the Apex Court in the case of Vodafone International Holdings B.V. vs Union of India with regard to taxation of indirect transfer of shares....

Read More
Posted Under: Service Tax |

Domestic Dependent Agency Rules – Parity with MLI standards

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...

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Posted Under: Service Tax |

“Acche Din” in Indian tax regime –Still a distant dream?

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...

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Posted Under: Service Tax |

India Business connection with BEPS and OECD proposals – a perspective

India has been an active participant among the G20 countries and committed to the Base Erosion and Profit Shifting [BEPS] project. India’s Finance Minister on 7 June 2017 signed off the Multilateral Convention to implement Tax Treaty Related Measures...

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Posted Under: Service Tax |

Budget 2018 backs legality of ICDS

India Inc. was promised that the government will be staying away from resorting to any retrospective amendment. Conversely, the Finance Bill 2018, has proposed various retrospective amendments to Income-tax Act, 1961 (the Act) for adopting several provisions of Income Computation and Disclosure Standards (ICDS) which are poles apart from ...

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Finance Bill 2018 proposes widened ambit of Dividend taxation in India

A dividend is a return by a company to its shareholders out of post-tax profits made by it during a particular year. They are usually declared or distributed in proportion to the number of shares owned. In normal parlance, dividend distribution entails cash outflow for the company distributing dividends....

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Posted Under: Service Tax |
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