Vodafone - Page 11

Department of Telecommunication given ultimatum to the auditors of three telecom majors

The Department of Telecommunication (DoT) has given an ultimatum to the auditors of three telecom majors — Vodafone Essar, Idea Cellular and Bharti Airtel — to submit their final reports to the government by February 7. They are conducting a special audit into allegations of tax evasion....

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Posted Under: Finance |

Special Auditor for Bharti Airtel sought extension from the government

Auditors Nayak and Kishnadwala, who are doing special audit for telecom major Bharti Airtel, have sought extension from the government by one-and- a-half months to submit the report. In April, DoT had ordered a special audit on five telecom companies --- Bharti Airtel, Vodafone-Essar, Tata Teleservices, Idea Cellular and Reliance Communi...

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Posted Under: Finance |

Issues under Income Tax on Shares & Securities Transactions

With the tax authorities out to prove that the existence of a large number of transactions in shares is to be treated as business income, while the focus of assessees generally has been on trying to refute the tax authorities arguments through stressing the various factual aspects related to the transactions, very often one tends to miss ...

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Posted Under: Finance |

Vodafone seek time to reply Income Tax Department notice

On October 30, 2009, the Income-Tax Department issued a notice to Vodafone International Holdings BV (VIH BV) over its 11.2-billion dollar purchase of Hutchison Telecom’s Indian operations (Vodafone Essar) in 2007. “Vodafone International Holdings BV (VIH-BV) was required to file its explanation by November 16, 2009. However VIH BV ha...

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Posted Under: Finance |

Income tax department issued notice to vodafone

The Income Tax department has issued a detailed notice today (comprising 531 pages along with annexure running into 1901 pages) under section 201(1) and 201(1A) of the IT Act 1961 to Vodafone International Holdings BV(VIH BV) requiring it to show cause as to why it should not be held that the Department has competent jurisdiction to proce...

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Posted Under: Finance |

Applicability TDS charges on pre-paid mobile cellular services provided by a service provider through its distributor’s network

Vodafone Essar Cellular Ltd. Vs ACIT (ITAT Cochin)

. There is no dispute or dis-agreement regarding the nature of transactions entered into between the assessee and its distributors. The assessee company, by virtue of the licence issued by the Department of Telecommunications, Government of India, is engaged in providing Mobile telephone services to the public at large. The Govt, of India...

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Applicability of provisions of section 194H on post-paid services and pre-paid package

Vodafone Essar Cellular Ltd. Vs ACIT (ITAT Cochin)

25. There is no dispute or dis-agreement regarding the nature of transactions entered into between the assessee and its distributors. The assessee company, by virtue of the licence issued by the Department of Telecommunications, Government of India, is engaged in providing Mobile telephone services to the public at large. The Govt, of Ind...

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AAR rules on whether a liaison office can constitute a permanent establishment

This alert summarizes a recent ruling of the Authority for Advance Ruling (AAR) [2009-TIOL-12-ARA–IT] in the case of K.T. Corporation (Applicant) on the issue of whether a Liaison Office (LO), acting as a communication channel, will constitute a Permanent Establishment (PE) of the Applicant under the Double Taxation Avoidance Agreement ...

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Posted Under: Finance |

DOT will appoint special auditors to audit revenue figure of top 4 telecom companies

The Department of Telecom will appoint special auditors this week to verify the revenue figures of Bharti Airtel, Vodafone Essar, Idea Cellular and Tata’s telecom companies, which operate in different areas of communications. The special auditors will be from the CAG panel, a senior DoT official told PTI ....

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Bombay HC dismissed the SABMiller writ petition on the ground of decision in Vodafone

Citing the Supreme Court order in the Vodafone case, the Bombay High Court today dismissed the SABMiller writ petition against a showcause notice issued by the Income Tax Department. CNBC-TV18's Ashwin Mohan reports on how this matter is similar to the Vodafone case? This case is similar to the Vodafone tax tussle. The Income Tax Departme...

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