tax avoidance

Tax Avoidance v. Tax Evasion

Income Tax - This article draws a difference between the two concepts of Tax Law. Since an assessee wants to pay a minimal amount of taxes. So he strives for several ways by which he can avoid his taxes, Tax Avoidance and Tax Evasion are two ways by which an assessee can avoid and save his taxes. Tax Avoidance is a legally accepted method to avoid an...

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Online Information Data Base Access and Retrieval (OIDAR) Services in GST

Income Tax - Online Information Database Access and Retrieval services (OIDAR) is a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such services. E.g. download of an e-book online for a payment would amount to receipt of OIDAR services by the ...

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Double Tax Avoidance Agreements & Taxation

Income Tax - The Double Tax Avoidance Agreement (DTAA) is essentially a bilateral agreement entered into between two countries. The basic objective is to promote and foster economic trade and investment between two Countries by avoiding double taxation....

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Essays on Tax Planning – Res Judicata

Income Tax - Tax Planning :- Tax planning as a concept had at a point of time suffered degradation and for a while seemed to be a euphemism for tax evasion. This was the fall-out of some observations in McDowell’s case, [154 ITR 148 (SC)] especially in the separate opinion of Justice Chinnappa Reddy. But the libel did not stay too long. Sabyasachi M...

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AAR on Payment for end to end international long distance telecom services not taxable

Income Tax - Cable & Wireless Networks India Private Limited („the applicant?) is engaged in the business of providing international and domestic long distance telecommunication services in India. It proposes to enter into an agreement with its group company, Cable and Wireless UK („C&W UK?) to provide end to end international long distance teleco...

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IRS Summarizes “Dirty Dozen” List of Tax Scams for 2017

Income Tax - The Internal Revenue Service today announced the conclusion of its annual Dirty Dozen list of tax scams. The annual list highlights various schemes that taxpayers may encounter throughout the year, many of which peak during tax-filing season. ...

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Govt will Promote Payments through cards and digital means

Income Tax - Promotion of payments through cards and digital means will be instrumental in reducing tax avoidance, migration of Government payments and collections to cashless mode, discourage transactions in cash by providing access to financial payment services to the citizens to conduct transactions through card/ digital means and shifting payment ...

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Mauritius Vice Prime Minister claimed his country is not a tax haven

Income Tax - Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes. However, Sithanen, who is also the finance and economic development minister, promised to cooperate with I...

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Income Tax authorities planning to broaden the tax base

Income Tax - Income Tax authorities are planning to broaden the tax base, seek greater exchange of information under the tax treaties and provide better services to tax payers by 2020 when the direct tax reforms would be firmly in place. The apex direct tax body, Central Board of Direct Taxes (CBDT), has formed seven committees comprising senior reven...

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Government signs revised Double Tax Avoidance Agreement with Finland

Income Tax - A revised Agreement and Protocol between India and Finland for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by Sh. S.S.N.Moorthy, Chairman, CBDT on behalf of Government of India and Ms Terhi Hakala, the Ambassador of Finland to India, on behalf of Government of Finland...

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Canada Tax Court Explains Tax Avoidance and General Anti Avoidance Rule (GAAR)

TRIAD GESTCO LTD. VERSUS HER MAJESTY THE QUEEN (Canada Tax Court) - The transactions undertaken by the appellant amount to abusive tax avoidance because they defeat the underlying rationale of the capital loss provisions in the Act. Through the manipulation of the fiscal 'amount' of the Rcongold com...

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AAR on Payment for end to end international long distance telecom services not taxable

Cable and Wireless Networks India Private Ltd., In re. (Authority for Advance Rulings) - Cable & Wireless Networks India Private Limited („the applicant?) is engaged in the business of providing international and domestic long distance telecommunication services in India. It proposes to enter into an agreement with its group company, Cable and Wireless UK („C&W UK?) to provide end t...

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Recent Posts in "tax avoidance"

Tax Avoidance v. Tax Evasion

This article draws a difference between the two concepts of Tax Law. Since an assessee wants to pay a minimal amount of taxes. So he strives for several ways by which he can avoid his taxes, Tax Avoidance and Tax Evasion are two ways by which an assessee can avoid and save his taxes. Tax Avoidance is a legally accepted method to avoid an...

Read More
Posted Under: Income Tax |

Online Information Data Base Access and Retrieval (OIDAR) Services in GST

Online Information Database Access and Retrieval services (OIDAR) is a category of services provided through the medium of internet and received by the recipient online without having any physical interface with the supplier of such services. E.g. download of an e-book online for a payment would amount to receipt of OIDAR services by the ...

Read More
Posted Under: Income Tax |

IRS Summarizes “Dirty Dozen” List of Tax Scams for 2017

The Internal Revenue Service today announced the conclusion of its annual Dirty Dozen list of tax scams. The annual list highlights various schemes that taxpayers may encounter throughout the year, many of which peak during tax-filing season. ...

Read More
Posted Under: Income Tax |

Govt will Promote Payments through cards and digital means

Promotion of payments through cards and digital means will be instrumental in reducing tax avoidance, migration of Government payments and collections to cashless mode, discourage transactions in cash by providing access to financial payment services to the citizens to conduct transactions through card/ digital means and shifting payment ...

Read More
Posted Under: Income Tax |

Double Tax Avoidance Agreements & Taxation

The Double Tax Avoidance Agreement (DTAA) is essentially a bilateral agreement entered into between two countries. The basic objective is to promote and foster economic trade and investment between two Countries by avoiding double taxation....

Read More
Posted Under: Income Tax | ,

Canada Tax Court Explains Tax Avoidance and General Anti Avoidance Rule (GAAR)

TRIAD GESTCO LTD. VERSUS HER MAJESTY THE QUEEN (Canada Tax Court) - The transactions undertaken by the appellant amount to abusive tax avoidance because they defeat the underlying rationale of the capital loss provisions in the Act. Through the manipulation of the fiscal 'amount' of the Rcongold common shares, the appellant created artifi...

Read More
Posted Under: Income Tax |

Mauritius Vice Prime Minister claimed his country is not a tax haven

Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes. However, Sithanen, who is also the finance and economic development minister, promised to cooperate with I...

Read More
Posted Under: Income Tax |

Income Tax authorities planning to broaden the tax base

Income Tax authorities are planning to broaden the tax base, seek greater exchange of information under the tax treaties and provide better services to tax payers by 2020 when the direct tax reforms would be firmly in place. The apex direct tax body, Central Board of Direct Taxes (CBDT), has formed seven committees comprising senior reven...

Read More
Posted Under: Income Tax |

Government signs revised Double Tax Avoidance Agreement with Finland

A revised Agreement and Protocol between India and Finland for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) was signed by Sh. S.S.N.Moorthy, Chairman, CBDT on behalf of Government of India and Ms Terhi Hakala, the Ambassador of Finland to India, on behalf of Government of Finland...

Read More
Posted Under: Income Tax |

Bonus stripping under the Income tax lens

After taxing investors for dividend stripping, the Income Tax (I-T) Department is gearing up to tax bonus stripping. Official sources say scrutiny of returns filed by companies, brokers and individuals active in the stock markets and in possession of shares revealed wide use of this mechanism to evade tax....

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Posted Under: Income Tax |
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