A complete re-write of the country's 1961 income tax law, a goods and service tax, a new advance pricing agreement programme, a growing litigation problem and a heightening risk of audits means the next year in India will be one of the busiest ever. Jack Grocott investigates.
Satya Poddar and Shalini Mathur of Ernst & Young outline how India's new goods and services tax will eventually drastically overhaul the country's indirect tax system for the better, despite constant disputes between the centre and the states.
K R Girish and Sunil Lala of KPMG explain how changes to dispute resolution methods and the introduction of alternative techniques look to reduce litigation costs and clear the backlog of cases building up within the country.
A booming economy and an increasing focus on investment is forcing the Indian tax authorities to step up scrutiny on all cross border trade. Rohan Phatarphekar and Hardev Singh of KPMG outline how transfer pricing will be the hot topic over the coming year.
Recent rulings are likely to suggest anti-avoidance regulations are on the way to India, explain Ajay Kumar and Amit Agarwal of PricewaterhouseCoopers.
Rahul Mitra and Nishant Saini, of PricewaterhouseCoopers, discover how the concept of permanent establishment in India is not as straight forward and subject to much debate.