India and Cyprus had entered into a Double Taxation Avoidance Agreement in 1994.
Manufacturing taxes, VAT will come down, assures Jaitley
There is a growing concern that many entities are routing their investments into the country through Mauritius to reap undue tax benefits.
The discussions on renegotiating the Double Taxation Avoidance Agreement, which comes in the wake of India seeking details of the black money stashed in Swiss banks, was earlier scheduled to be held in December.
Facing flak over its decision to impose tax at the time of withdrawal on 60 per cent of the contributions to Employees' Provident Fund, the government on Tuesday clarified that only interest accrued on 60 per cent contribution to EPF after April 1, 2016 will be taxed.
From audit and taxation to investment banking, the realm of options for CAs has only widened over the years.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
The financial fraud, one of the biggest in the state as per records, was being investigated by the different departments of Himachal Pradesh for the past over four years.
With the introduction of the single window clearance provision, pre-production windows are expected to reduce significantly. Not only will it have an impact on the operational cost of the film, it will also allow studios to release films faster.
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
Starting with the proposed retrospective amendment to Section 9 of the Income Tax Act, seen as a move to get over the adverse Supreme Court verdict on Vodafone, the controversy spilled over to taxation of foreign portfolio investments and taxation of foreign assets of Indians.
Joshi said the Congress is 'led by an infiltrator' and is targeting Modi who hails from a humble family and is a popular leader.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
'The regime -- and particularly the home ministry under Amit Shah -- have sought to suppress and destroy these struggles through intimidation, bullying, threats, through false cases, arrests, custodial torture, the use of draconian laws like the UAPA.'
Broadly stagnant sales causes the first drop in business activity in over a year.
Some of the proposals include redrafting transfer and placement policy for IRS officers, strengthening the cadre restructuring, rebranding of IRS, robust deputation policy and creation of encadred post in other ministries and government department.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
New government should consider reforming taxation rules.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
The Islamic State rakes in over US $1 million (Rs 6.4 crore) per day in extortion and taxation and the dreaded terror group has enough assets to cover its expenses despite falling oil prices, according to a media report.
Young Indians seem genuinely enthusiastic about craft brands that are hip, aspirational and have plenty of the novelty quotient, says Dhruv Munjal.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
Union Budget 2012 will be unveiled soon and as is the case with every Budget season there are a lot of expectations, aspirations as well as doubts.
'People know if inflation is not within the tolerance band, then action will be taken so they do not expect inflation to rise above that.'
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
As per their law and Constitution, their international agreements are to be ratified by both houses of Parliament and local authorities.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
With a focus on direct, indirect, and corporate tax structures, the Budget 2016-17 offers a balanced taxation structure
The amended Indo-Swiss taxation treaty has came into effect, a development that will allow India to seek specific information on black money and tax evasion cases dating back to January 1, 2011.
The logic of deregulation was that the consumer was protected no matter what the price of crude. But now the reverse has happened. The government is protected no matter what the price of crude, observes Aakar Patel.
The finance minister did very well for equity market investors but not so with families, reveals Mahesh Vyas.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Modi tells global investors to invest in India.
India, South Korea sign 7 agreements to boost cooperation.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
