'I believe the modified scheme is much more beneficial and simpler.'
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The constituency that support reforms today is much larger today.
Rejecting the charge that the National Democratic Alliance has done a U-turn on disclosure of names of black money holders, Finance Minister Arun Jaitley has said the government will not be pushed into an act of adventurism and jeopardise the chances of getting cooperation of other countries in future.
In May, India and Mauritius signed a protocol to introduce in-principle taxation of capital gains in India in a phased manner.
Mumbai, Bengaluru, and Kochi airports have hiked their landing charges by up to 45 per cent, increasing the operating cost for airlines at a time they are facing financial constraints because of the two months of grounding and weak demand.
Income Tax Department has slapped fresh tax notice on Nokia India, tax authorities said.
One of the key concerns of foreign investors is how the general anti-avoidance rule would apply in case an investor is availing benefits under double taxation avoidance agreement.
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
With the Modi government facing the arduous task of fulfilling its promise of getting back black money stashed abroad, Attorney General Mukul Rohatgi on Friday said all amounts deposited in foreign banks by Indian citizens can't be termed as black money and that it is not a crime to open such accounts.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
The Centre on Friday submitted before the Supreme Court that all the information on black money received from foreign countries, with which India has double taxation avoidance agreement, cannot be disclosed.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
Five key capital market announcements from the previous Budget.
The President has begun studying Constitutional and Presidential precedents in anticipation of a fractured mandate in next year's general election, reveals R Prema.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
'At the policy's maturity, the total premium is refunded.'
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
It will reduce compliance cost as the assessee will not have to maintain multiple records for a variety of taxes
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
Black money is because of P Notes, hawala and variety of other reasons.
'Defence and aerospace show huge potential thanks to the government's Make in India push.'
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
In its effort to unearth black money stashed away abroad, India has received data on over 24,000 instances of alleged tax evasion and dubious funds which has been detected in foreign shores in the last financial year.
Currently, companies are taxed in the jurisdictions in which they have a physical presence. However, digital businesses generate revenues from markets without a significant physical presence in a country.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
Long accused of being a route for avoiding taxes for foreign investments into India, Mauritius says it has put additional safeguards in place to thwart such wrong perceptions and to boost its image as a preferred global financial centre.
The revised structure will help to keep airfares down, when airlines already face a triple challenge of rising crude oil prices, rupee depreciation and constrained airport capacity.
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.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Prime Minister Narendra Modi arrived in Seoul on Monday on the last leg of his three-nation visit during which he will hold talks with the South Korean leadership aiming to give a fillip to economic and trade cooperation.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
In touch with the Swiss government under the DTAA mandate
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
