India aims to curb business tax disputes with safe harbour rules
Financial Times India’s government has unveiled reforms to curb taxation disputes that have bedevilled foreign companies with outsourced operations in the country, in a move likely to be welcomed by international investors. The...
Department of Revenue announces final Safe Harbour Rules after feedback from stakeholders
Overall, a positive move, accepting select recommendations thereby rendering final set of rules flexible and less conservative. Applicability of 5 year period less but greater certainty as opposed to two year limit envisage in...
Go to tribunal on transfer pricing first, Bombay HC tells Vodafone
Financial Express The Bombay High Court on Friday dismissed a writ petition filed by Vodafone India that questioned the jurisdiction of a draft transfer pricing order issued by the income tax department seeking to add Rs 8,500...
VODAFONE TRANSFER PRICING Bombay High Court should have looked into merits: Experts
Hindu Business Line VODAFONE TRANSFER PRICING Bombay High Court should have looked into merits: Experts The Bombay High Court’s dismissal of Vodafone’s writ petition on the Rs 8,500-crore transfer pricing adjustment case came as...
HC rejects Vodafone’s writ petition in transfer pricing case
The Indian Express The Bombay High Court on Friday dismissed a writ petition filed by telecom major Vodafone that questioned the jurisdiction of the income tax department on an outsourcing unit in Pune. The income tax department...
Vodafone – Bombay HC writ under Article 226
The Bombay HC dismissing the Vodafone plea has held as follows: Article 226 gives limited jurisdiction to intervene after an order is passed by a TP officer. DRP has wide powers to go into international transactions. Further the...
The trouble with the richie itch
Data suggest that a tax rate increase for a few rich people puts little back into the economy compared to an across-the-board increase I think there should be stability in tax rates but we should consider the argument that...
BEPS & India : In search of a solution
The G20 leaders’ Mexico summit of June’12 crafted the term ‘Base Erosion & Profit Shifting’ with an objective to prevent country’s tax base getting eroded as a result of tax planning strategies...
I-T dept releases draft safe harbour rules to reduce transfer pricing litigation
The Draft specifies conditions under which safe harbour rules will apply for IT, ITeS, pharma sectors The income-tax (I-T) department released draft safe harbour rules aimed at reducing transfer pricing litigation across...
FinMin comes out with draft rules for safe harbours
In an effort to reduce litigation with foreign companies, the Finance Ministry has issued draft rules for safe harbours. The new rules, once notified, will define circumstances in which the Income Tax Authorities will accept the...