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Income Tax offices soon in several foreign countries, tax havens

Income Tax - The government may soon be able to obtain classified financial data from tax-haven countries and some foreign shores as it plans to set up new overseas Income Tax offices in countries like the US, the UK and Cyprus to liaise with local tax authoritie...

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8 new overseas Income Tax Units in Indian Missions abroad to be set-up under the DTAA

Income Tax - It is proposed to create 8 new overseas Income Tax (IT) Units in Indian Missions abroad to have effective exchange of information on tax matters under the Double Taxation Avoidance Agreement (DTAA). Two overseas income tax units at the Indian missions in Mauritius and Singapore have been already set-up. ...

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Government setting up eight more overseas income tax units: FM

Income Tax - Finance Minister Pranab Mukherjee today said that the government is in the process of setting up 8 more income tax overseas units, including in the US and Britain, to facilitate exchange of tax related information. At present, the government has one such unit (ITOUs) each at the Indian mission in Singapore and Mauritius....

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Government set up units in Singapore and Mauritius and will create units in eight more countries

Income Tax - The government has set up two income tax overseas units at its missions in Singapore and Mauritius and will create such units in eight more countries to facilitate exchange of information on tax-related issues, Parliament was informed today....

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India becomes 7th largest Shareholder in world bank

Income Tax - The Development Committee of the World Bank, in its meeting held on 25th April, 2010 at Washington DC, took historic decisions relating to increasing the financial capacity of the Bank and enhancing the role of developing countries in its governance. These decisions would be of great benefit to India – both as a borrower from and as a s...

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Recent Posts in "Germany"

Income Tax offices soon in several foreign countries, tax havens

The government may soon be able to obtain classified financial data from tax-haven countries and some foreign shores as it plans to set up new overseas Income Tax offices in countries like the US, the UK and Cyprus to liaise with local tax authoritie...

Read More
Posted Under: Finance |

8 new overseas Income Tax Units in Indian Missions abroad to be set-up under the DTAA

It is proposed to create 8 new overseas Income Tax (IT) Units in Indian Missions abroad to have effective exchange of information on tax matters under the Double Taxation Avoidance Agreement (DTAA). Two overseas income tax units at the Indian missions in Mauritius and Singapore have been already set-up. ...

Read More
Posted Under: Finance |

Government setting up eight more overseas income tax units: FM

Finance Minister Pranab Mukherjee today said that the government is in the process of setting up 8 more income tax overseas units, including in the US and Britain, to facilitate exchange of tax related information. At present, the government has one such unit (ITOUs) each at the Indian mission in Singapore and Mauritius....

Read More
Posted Under: Finance |

Government set up units in Singapore and Mauritius and will create units in eight more countries

The government has set up two income tax overseas units at its missions in Singapore and Mauritius and will create such units in eight more countries to facilitate exchange of information on tax-related issues, Parliament was informed today....

Read More
Posted Under: Finance |

India becomes 7th largest Shareholder in world bank

The Development Committee of the World Bank, in its meeting held on 25th April, 2010 at Washington DC, took historic decisions relating to increasing the financial capacity of the Bank and enhancing the role of developing countries in its governance. These decisions would be of great benefit to India – both as a borrower from and as a s...

Read More
Posted Under: Finance |

Meeting of Steering Group of Global Forum on Transparency and Exchange of Information for Tax Purposes

The Ministry of Finance hosted a key meeting of the Steering Group of the Global Forum on Transparency and Exchange of Information for Tax Purposes at New Delhi on 11th – 12th February 2010. The G-20 had asked the Global Forum to complete their peer review processes and to assess adherence to international standards....

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Posted Under: Finance |

Rate of Tax deduction on royalty, technical services fees paid to non resident need to be reduced

Existing Income-tax Act provides that income earned by a non resident by way of ‘Royalty’ or ‘Fees for Technical Services’ (FTS) shall be charged to income tax at 10 per cent. The rates of tax in most of the Tax Treaties are also 10 per cent in respect of income from Royalty or FTS. Recently, India has signed tax treaties with sev...

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Posted Under: Finance |

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