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  • 01-Sep-2013 | H P Agrawal

    Transfer pricing deals: Compulsory scrutiny limit tripled to Rs 15 cr

    It is a well known fact that transfer pricing (TP) provisions have fuelled unprecedented litigation in India.TP provisions were introduced in India by the Finance Act, 2001, so as to protect India's right to collect a fair share of tax in respect of ...

  • 18-Aug-2013 | H P Agrawal

    Draft safe harbour rules disappoint

    In an effort to reduce transfer pricing ('TP') litigation, Section 92CA was introduced by the Finance Act (No. 2), 2009, authorising the Central Board of Direct Taxes (CBDT) to formulate safe harbour rules. By way of the above amendment, CBDT was ...

  • 04-Aug-2013 | H P Agrawal

    Tax refund made easy by Delhi High Court

    Revenue authorities have their own targets for tax collection. The targets are often based on the collections made in the earlier year without any regard to the estimated actual profits to be made by the tax payers. The tax officers are so obsessed ...

  • 14-Jul-2013 | H P Agrawal

    Tax treaties override Vodafone amendments

    AP High Court, in the case of Sanofi Pasteur Holding SA, said amendments made in the I-T Act do not nullify India's tax treaties

  • 30-Jun-2013 | H P Agrawal

    India ensures tax equalisation for international posting

    There are a large number of multinational companies operating in India. In case of multinational companies, it is a common practice that their employees are transferred from one country to other countries for serving offices situated in various ...

  • 16-Jun-2013 | H P Agrawal

    Rule 10H on pre-filing consultation: A unique feature of Advance Pricing Agreements

    Finance Act, 2012, introduced the concept of Advance Pricing Agreements (APA). APAs are common in other developed countries.An Advance Pricing Agreement (APA) is an agreement between the taxpayer and the tax authorities on the pricing of ...

  • 02-Jun-2013 | H P Agrawal

    Insurance valuation: A good benchmark for transfer pricing

    Irrespective of the difficulties, taxpayers have to comply with the transfer pricing regulations and determine the arm's length price

  • 19-May-2013 | H P Agrawal

    Transfer pricing: Tolerance margin needs to be rationalised

    When transfer pricing provisions were introduced in India in the year 2001, no tolerance limit was prescribed for adjustment in arm's length price (ALP). Thus any difference between the ALP, as calculated by adopting an appropriate prescribed ...

  • 21-Apr-2013 | H P Agrawal

    Information sharing with foreign countries may help tackle black money

    The problem of black money in India has reached to a point that the entire political spectrum is committed to bring back the black money illegally stashed outside India. The Government of India is taking serious steps in this direction, including ...

  • 07-Apr-2013 | H P Agrawal

    R&D issues in transfer pricing clarified

    Transfer Pricing (TP) Provisions were introduced in India by the Finance Act, 2001. The TP Provisions were introduced with an intent to protect India's right to collect a fair share of tax in respect of cross-border transactions. In simpler terms, ...

  • 24-Mar-2013 | H P Agrawal

    Libor - a good benchmark for transfer pricing

    Interest rates in India are quite high compared to the rates prevailing outside of the country

  • 10-Mar-2013 | H P Agrawal

    HP Agrawal: A mixed bag for foreign companies

    A welcome feature of Finance Bill, 2013, is that it does not contain retrospective amendments and does not seek to overrule pronouncements of Supreme Court. There are only a few proposals in the Budget relating to foreign enterprises. Our ...

  • 24-Feb-2013 | H P Agrawal

    HP Agrawal: Is royalty paid by a non-resident to another taxable in India?

    The issue for consideration is as to whether the royalty paid by the foreign manufacturers on manufacturing of the goods outside India could also be taxed in India if such goods are sold in India. In terms of section 9(1)(vi)(c), royalty payable by ...

  • 11-Feb-2013 | H P Agrawal

    HP Agrawal: Controversy on definition of international transaction

    LG Electronics Inc, a Korean company, set up a wholly owned subsidiary in India (LG Electronics India Pvt Ltd). LG Korea provided its technical assistance to LG India for which it agreed to pay royalty at the rate of one per cent. LG Korea also ...

  • 14-Jan-2013 | H P Agrawal

    HP Agrawal: Standard rules not the only method to calculate arm's length for TP

    Transfer Pricing (TP) provisions were introduced in India by the Finance Act 2001. The TP provisions were introduced with an intent to protect India’s right to collect a fair share of tax in respect of cross border transactions. In simpler terms, ...

  • 31-Dec-2012 | H P Agrawal

    H P Agrawal: Guarantee commission under lens of transfer pricing

    Indian corporates have now started investing in foreign countries in multifarious ways. In many cases foreign subsidiaries are established by Indian companies. Sometimes the subsidiary company is not in a position to obtain finance overseas. ...

  • 31-Dec-2012 | H P Agrawal

    H P Agrawal: Guarantee commission under lens of transfer pricing

    Indian corporates have now started investing in foreign countries in multifarious ways. In many cases foreign subsidiaries are established by Indian companies. Sometimes the subsidiary company is not in a position to obtain finance overseas. ...

  • 22-Aug-2011 | H P Agrawal

    Overruling of earlier decisions by Authority for Advance Rulings

    The provisions relating to Authority for Advance Rulings (AAR) were introduced by the Finance Act 1993. The intent was to create an independent adjudicatory body and to ensure further that the procedure is simple, inexpensive, expeditious and ...

  • 01-Jun-2009 | H P Agrawal

    Can contract be bifurcated to decide tax jurisdiction?

    The issue of taxability of offshore services was settled by the Supreme Court in case of Ishikawa (288 ITR 408) wherein it was observed that there are two conditions which are required to be met in order to bring the income from services in the tax ...

  • 23-Mar-2009 | H P Agrawal

    Margin allowed in transfer pricing transaction

    Transfer pricing provisions were introduced in India by the Finance Act 2001 so as to protect its rights to collect fair share of tax in respect of cross border transactions. Accordingly an international transaction entered into between associated ...

  • 23-Feb-2009 | H P Agrawal

    Updating tax treaties necessary for growth

    Agreements for avoidance of double taxation (hereafter referred as tax treaty) play a very important role in attracting foreign capital and technology. To promote inflow of foreign investment from developed countries to developing countries, the ...

  • 26-Jan-2009 | H P Agrawal

    No clarity on taxation of foreign entities in India

    The Supreme Court in case of Ishikawa (298 ITR 408) had held that an income must have sufficient territorial nexus with India so as to furnish a basis of imposition of tax. A territorial nexus has to be decided having regard to internationally ...

  • 12-Jan-2009 | H P Agrawal

    Stop collecting disputed tax demand

    FOREIGN ENTERPRISE

  • 29-Dec-2008 | H P Agrawal

    Debate on taxation of PEs far from over

    Foreign companies while doing business in India often create a Permanent Establishment (PE). Establishment of such PEs is more frequent when foreign companies are involved in providing services.

  • 15-Dec-2008 | H P Agrawal

    An eye-opener for cross-border transactions

    Hutchison Essar is an Indian company. All the shares of Hutchison Essar are held by a special purpose vehicle (SPV) of Cayman Island.

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