tax experts

Experts view on FM statement on Tax treaty renegotiation with 77 countries

Income Tax - This tax treaty controversy is snowballing. First it was just the India Mauritius Double Tax Avoidance Treaty that was under a shadow and has been that way for a couple of years then the proposed Direct Tax Code released in August this year proposed a Treaty of Override Clause. Tax experts and India Inc are up in arms because if the code ...

Read More

S.115JA Provision for Bad & Doubtful Debts cannot be added to Book profits

Income Tax - The Supreme Court has ruled that provisioning for bad debt cannot be considered for deduction against the taxable income & Provision for bad and doubtful debts cannot be added to the “book profits” for purposes of section 115JA because they merely represent the diminution in the value of an asset and are not a provision for an unascer...

Read More

Government mulling reduction in the number of personal income tax rates from the current three to two

Income Tax - In the run-up to Budget 2010-11, the Finance Ministry is mulling a reduction in the number of personal income tax rates from the current three to two. At present, there are three rates - 10, 20 and 30 per cent - and these are applied on slabs that are specified from year to year as part of the Budget....

Read More

PM panel in favour of one GST slab at central level for both Goods and services

Income Tax - The Prime Minister’s Economic Advisory Council, or PMEAC, has favoured asingle slab each for goods and services or one common rate for both under the proposed goods and services tax (GST), unlike the proposal mooted by the states.“The Centre could follow the pattern in which there is only one rate for goods and one rate for services, ...

Read More

Undistributed dividends of foreign corporations controlled or owned by Indian companies will be taxed in the near future

Income Tax - Most countries have Controlled Foreign Corporation (CFC) laws that enable authorities to levy such taxes. These laws effectively check the governments’ revenue loss due to the transfer of undistributed dividends to offshore tax havens like Isle of Man, Cayman Islands and Mauritius.  Indian tax authorities, for long, have maintained tha...

Read More
Sorry No Post Found
Sorry No Post Found

Recent Posts in "tax experts"

Government mulling reduction in the number of personal income tax rates from the current three to two

In the run-up to Budget 2010-11, the Finance Ministry is mulling a reduction in the number of personal income tax rates from the current three to two. At present, there are three rates - 10, 20 and 30 per cent - and these are applied on slabs that are specified from year to year as part of the Budget....

Read More
Posted Under: Income Tax |

PM panel in favour of one GST slab at central level for both Goods and services

The Prime Minister’s Economic Advisory Council, or PMEAC, has favoured asingle slab each for goods and services or one common rate for both under the proposed goods and services tax (GST), unlike the proposal mooted by the states.“The Centre could follow the pattern in which there is only one rate for goods and one rate for services, ...

Read More
Posted Under: Income Tax |

Experts view on FM statement on Tax treaty renegotiation with 77 countries

This tax treaty controversy is snowballing. First it was just the India Mauritius Double Tax Avoidance Treaty that was under a shadow and has been that way for a couple of years then the proposed Direct Tax Code released in August this year proposed a Treaty of Override Clause. Tax experts and India Inc are up in arms because if the code ...

Read More
Posted Under: Income Tax |

Undistributed dividends of foreign corporations controlled or owned by Indian companies will be taxed in the near future

Most countries have Controlled Foreign Corporation (CFC) laws that enable authorities to levy such taxes. These laws effectively check the governments’ revenue loss due to the transfer of undistributed dividends to offshore tax havens like Isle of Man, Cayman Islands and Mauritius.  Indian tax authorities, for long, have maintained tha...

Read More
Posted Under: Income Tax |

S.115JA Provision for Bad & Doubtful Debts cannot be added to Book profits

The Supreme Court has ruled that provisioning for bad debt cannot be considered for deduction against the taxable income & Provision for bad and doubtful debts cannot be added to the “book profits” for purposes of section 115JA because they merely represent the diminution in the value of an asset and are not a provision for an unascer...

Read More
Posted Under: Income Tax |

Browse All Categories

CA, CS, CMA (3,523)
Company Law (3,466)
Custom Duty (6,671)
DGFT (3,499)
Excise Duty (4,051)
Fema / RBI (3,292)
Finance (3,496)
Income Tax (25,326)
SEBI (2,758)
Service Tax (3,288)

Search Posts by Date

November 2017
M T W T F S S
« Oct    
 12345
6789101112
13141516171819
20212223242526
27282930