Mondaq Asia Pacific: Tax
Stacks Law Firm
The ATO Commissioner alleged that the declarations amounted to an "alienation of property" designed to defraud creditors.
Companies considering offering renounceable rights issues should be aware of the information in ATO Ruling TR 2017/D3.
Mayer Brown JSM
A new spring and many new developments on taxation in Asia
SKP Business Consulting LLP
The GST Council in the first day of its two-day meeting in Srinagar on 18 May 2017 has considered and finalised 7 rules pertaining to different aspects of the GST law.
SKP Business Consulting LLP
Tax rates of 1,211 items (except six) have been fixed.
SKP Business Consulting LLP
India was in focus due to colossal transfer pricing adjustments made in past few years in the case of international transactions entered into by MNEs.
SKP Business Consulting LLP
Indications in favour of rolling out GST by 1 July 2017
Vaish Associates Advocates
The Division Bench of Delhi HC while deciding the writ petition nos. W.P.(C) 3732/2017 and W.P.(C) 3749/2017 has signified the importance of the principle of natural justice in the Indian legal framework.
SKP Business Consulting LLP
Section 14A of the Income Tax Act, 1961 (Act) provides for disallowance of expenditure incurred in relation to income which is not included in the total income of the assessee.
SKP Business Consulting LLP
In a recent case, the Bombay High Court in a brief order confirmed the view of the Mumbai Tribunal that the reimbursement of salary paid under a secondment arrangement does not attract...
SKP Business Consulting LLP
The Finance Act, 2017 had made it mandatory for individual taxpayers to quote their Aadhaar number or Enrolment ID of Aadhaar application form for filing tax returns in India.
Krishnomics Legal
Tax Authorities have powers to summon persons and documents, and survey his premises to secure evidences of undisclosed documents or assets.
SKP Business Consulting LLP
Section 40(a)(ia) of the Income Tax Act, 1961 (ITA) provides that failure to deduct Tax Deducted at Source (TDS or withholding tax) on certain specified sums payable to a resident results in denial of tax deduction of the relevant expenditure.
SKP Business Consulting LLP
The GOI had introduced Section 94A in the Income Tax Act, 1961 to discourage transactions between taxpayers and persons located in a NJA that does not engage in effective exchange of information...
SKP Business Consulting LLP
In the third Governing Council meet of NITI Aayog, the Prime Minister Narendra Modi stated that GST reflects the spirit of "one nation, one aspiration and one determination".
SKP Business Consulting LLP
With a spate of rules being released recently by the Central Board of Excise and Customs (CBEC), another set of draft Goods and Services Tax (GST) Rules were issued on 19 April 2017.
Nishith Desai Associates
Supreme Court of India rules that that Formula One World Championship Limited has a fixed place Permanent Establishment in the Buddh International Circuit, the venue of the Indian Grand Prix.
Phoenix Legal
The debatable principle of tax righteousness is not new, this contentious concept has always been a topic of some persuasive deliberations in the past, when it comes to the principles of tax management...
Khaitan & Co
On 24 April 2017, the Apex Court upheld the decision of the Delhi High Court in the case of Formula One World Championship Limited v CIT, ...
Cast your mind back to November last year: following the implementation of the Government's demonitisation drive, the realisation of the new goods and services tax regime was looking unlikely.
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Phoenix Legal
In a business environment that is continuously evolving, existing tax rules are facing challenges. More often than not they are criticized for setting out provisions that seems to be detached...
The implementation of GST will significantly improve the competitiveness and performance of India's manufacturing sector.
From 1 July 2017, the availability of stamp duty concessions for off-the-plan purchases in Victoria will be restricted.
Nangia & Co
GST, which is considered as biggest tax reform since 1947 which seeks to replace a slew of taxes and levies in 29 states and aims to simplify and harmonise the indirect tax regime in the country.
SKP Business Consulting LLP
The Maharashtra Budget for the year 2017-2018 was presented by the Finance Minister (FM) of Maharashtra on 18 March 2017.
Khaitan & Co
The Finance Bill, 2017 which was presented by the Finance Minister in the Indian Parliament on 1 February 2017 (Original Bill) has been amended by the Lok Sabha (Amended Bill).
With increased globalization and the growth of information technology, the import of technical know-how, acquisition of software and technical services is not very uncommon in developing economies like ours.
Khaitan & Co
Some interesting issues that have been clarified in the FAQs are briefly dealt with below.
Vaish Associates Advocates
Section 145 of the Income tax Act, 1961, as amended by the Finance Act, 1995, empowered the Central Government to notify the Accounting Standards to be followed for computing income under the head "Profits and Gains of Business or Profession" and "Income from Other Sources".
Rajani Associates
If the control and management of the underlying business is being transferred along with the transfer of the shares of the unlisted entity.
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