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  • One of the least discussed proposed provisions in India’s Direct Taxes Code is the branch profits tax. The new law proposes to tax profits of the branches of the foreign companies carrying on business in India. Ajit Korde, Commissioner of Income Tax, Indian Revenue Service, discusses some of the aspects of the tax and argues that it should be higher up on taxpayer’s agendas.
  • Navigating India’s tax system is not an easy task. With two new tax laws expected in 2012 and growing aggression from officials, Jack Grocott got three of the country’s leading tax directors to share their knowledge and advice on how best to manage Indian tax.
  • 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.
  • 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.
  • Gupta believes the decision could have gone in favour of the taxpayer
  • One issue in the case relates to the use of comparable data not available to the taxpayer The case of Symantec Software Solutions Pvt Ltd, heard before the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), has implications for the application of transfer pricing provisions, which continue to differ from global best practice.
  • Vodafone paid $821 million under protest
  • Software is not a royalty under the treaty The Mumbai Tribunal has ruled that a software payment is not a royalty under the India-Israel double tax treaty.
  • 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.
  • 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.