Direct Taxation

New Tax Norms Target Shell Firms

New Tax Norms Target Shell Firms

The government on Tuesday issued guidelines to plug tax evasion by shell companies or foreign firms set by groups in India to retain income outside the country, dashing hopes ofindustryThe rules outline companies incorporated overseas but with effective control of...

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Startup Brace For Legal War With I-T

Startup Brace For Legal War With I-T

Startups that have been ordered to pay tax despite valuations being marked down in recent funding rounds are challenging the demands, complaining that the move runs counter to the government's campaign to encourage entrepreneurial spirit. With startup fever having...

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More Online Services May Face Google Tax

More Online Services May Face Google Tax

The government is likely to expand the scope of the equalisation levy, the so-called “Google tax”, to bring more digital transactions into the tax net in the upcoming budget to curb tax avoidance by multinational chartered accountant firms in mumbai. Online sales of...

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Benami Property Transactions on I-T radar

Benami Property Transactions on I-T radar

With the validity date ended on Friday for normal exchange of old currency notes, the income tax (I-T) department is working on ‘property index cards’ featuring high value realty transactions in the past three years. They’ve also outlined stringent action against...

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India, Singapore Revise Tax Treaty

India, Singapore Revise Tax Treaty

The government signed a pact with its Singapore counterpart on 30th Dec, 2016, amending their decade-old tax treaty, gaining indirect taxation in India rights over capital gains. This is the third double taxation avoidance agreement (DTAA) amended so far this...

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Rules for filing Tax Returns

New forms, additional information, completely paperless filing.... the Finance Ministry has introduced several changes in the way taxpayers will file their returns this year. As a taxpayer you need to be aware of these changes lest you file an incorrect return that...

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