INSIGHT: What to expect in India’s budget next month
07 February 2012
Matthew Gilleard - ITR
India’s finance minister will present his 2012 budget on March 16 and advisers are warning that taxpayers should be prepared for the adoption of controlled foreign company legislation, a general anti-avoidance rule and a place of effective management regime.
Pranab Mukherjee’s budget is also expected to include amendments on the taxation of the sale of indirect assets after the Vodafone Supreme Court ruling from last month.
Sanjiv Malhotra, director at BMR Advisors – Taxand, believes there are three main priorities to be addressed in the budget, conceding that government has a tough job on its hands.
“There are three key aspects that government needs to keep in mind: general slowdown in...
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