ITR Search | International Tax Review

Tax exempt M&A may not be tax free

Business reorganisation and restructuring in M&A activity has become an important and necessary tool for business strategy in India. Daksha Baxi and Vinita Krishnan of Khaitan & Co investigate the challenges taxpayers will face in light new provisions of Section 56 of the Income Tax Act, 1961.

October 19 2011

Beneficial ownership grabs attention

Arun Chhabra and Nidhi Gupta of Walker, Chandiok & Co analyse the concept of beneficial ownership and discuss the implications, meaning, judicial precedents that are relevant to Indian taxpayers. The pair also dissect the recent OECD discussion paper on the topic.

October 19 2011

A round-up of the latest transfer pricing rulings

Vispi Patel and Rajesh Athavale of Vispi T Patel & Associates explain how recent judicial rulings throw light on different aspects of transfer pricing and offer guidelines to taxpayers on the way to mitigate transfer pricing risk in India.

October 19 2011

Concept of negative list for service tax introduced

The recently released concept paper on taxation of services based on the Ministry of Finance’s negative list concept has evoked mixed reactions from industry. This is an important development and while industry has lauded the move towards a comprehensive and simplified service tax regime, Harishanker Subramaniam of Ernst & Young explains that there are strong views on the timing of its implementation and its impact on certain sectors.

October 19 2011

Industry focus: Entertainment & media

In the third of a regular series, Sandeep Ladda and Milan Shah of PwC highlight the key challenges taxpayers face in key Indian industries. In this issue, the authors analyse the tax hurdles and opportunities in the entertainment and media sector.

October 19 2011

Redefining place of effective management

India’s domestic tax law follows residency-based taxation rather than source-based taxation. For an Indian tax resident, worldwide income is taxable in India. The residential status thus impacts the scope of income liable to be taxed in India. K Subramanian and S Anantha Padmanabhan of Deloitte analyse the challenges taxpayers will face once the place of effective management concept is introduced.

October 19 2011

How to prepare for the DTC

Opinions are divided on whether the Direct Taxes Code (DTC) will be implemented on April 1 2012 or whether it will be ripped up and the least controversial aspects introduced quietly in the Finance Bill. One thing is for sure, change is on its way. Jack Grocott speaks to tax professionals to ask for their advice on how to prepare for the change.

October 19 2011

How India is dealing with the problem of tax evasion

Tax evasion in India is an intensely politicised matter, and disputes such as that surrounding Hyundai Motor India Limited, which faces evasion charges amounting to Rs266 crore ($59 million), indicate that the issue is still as rife as ever. But recent initiatives such as the revised India-Switzerland tax treaty could mark the first significant steps towards reining the problem in. Matthew Gilleard investigates.

October 19 2011

India’s infant environmental taxes slowly growing

India’s environmental tax system is still young and undeveloped, but Salman Shaheen looks ahead to see what the future might bring, what it will mean for taxpayers and how best to use tax policy to ensure sustainable growth.

October 19 2011

Indian authorities have no right to question commercial wisdom of taxpayer

Taxpayers hope this case will provide greater clarity in the area of transfer pricing assessment The Indian transfer pricing authorities have no right to question the commercial wisdom of the taxpayer in incurring expenditure for business conduct, the Mumbai Income Tax Appellate Tribunal has ruled.

October 19 2011

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