Page 3 - Taxation Laws

IT raids on 2 cellphone firms find Rs 1,400-crore understating of profit

Evidence has emerged that the two companies could be under-stating taxable profit by more than Rs 1,400 crore.

Wanted, a panel to settle tax disputes

The government should constitute a panel to examine disputes, especially those where the Department has lost in the lower forums and appealed in a higher one

New terms for settling retrospective tax cases may be unwieldy: Experts

Any dispute subject to jurisdiction of Indian courts could be a prickly issue, say experts

Cairn, Air India seek stay on New York court proceedings

The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn

Govt approaches 17 companies to settle retrospective tax cases

The rules under the Taxation Laws (Amendment) Act, 2021, are expected this week

Reading down retro tax law gives govt opportunity to renew BIPA

Several law firms representing interests of companies abroad hope this will happen soon

Govt's retro tax settlement with Cairn Energy may hinge on Vedanta case

India lost the international arbitration with Cairn Energy at The Hague in December and the former was given an award of $1.2 billion

Retro tax gone, industry must revive animal spirits: Revenue Secretary

Revenue Secretary Tarun Bajaj says withdrawal of retrospective tax amendments is the government's policy to provide a stable and predictable tax regime

Retrospective tax: India eyes entry into global bond indices in a year

An entry into some of these indices is expected to generate an additional $20 billion of foreign investment into the economy

Govt buries retrospective tax, introduces Bill to amend Income Tax Act

Bill to scrap the law tabled; proposed refund at around Rs 8,100 crore

Retrospective tax policy burial does not come as a surprise

While it is good to see the government take this step, the question remains whether investors who have obtained an award that comprises of interest component will take up the offer.

Good sense, finally

Govt wasted nine years in trying to defend the indefensible retro tax

Maximise tax benefit on interest income from savings accounts: Analysts

For non-senior citizens, the maximum benefit can go up to Rs 17,000 using Section 80TTA and Section 10(15)(i)

Global tax deal gets boost as European Union delays push for digital levy

Over the weekend, G-20 nations agreed on the outlines of a global corporate-tax agreement.

Shibboleths of the 'ideal' tax system

The time-hallowed principle of focusing on direct taxes is worth questioning

130 countries agree to Biden-backed 15% global minimum tax for companies

The deal calls for a global minimum tax of at least 15%, a key element pushed by Biden as he seeks to raise more revenue for his infrastructure and clean energy plans

GST at four: A dive into the milestones and the unfinished agenda

GST Council must maintain revenue momentum, simplify rate structure, and strengthen cooperative federalism in spirit and letter

Structural weakness

India needs to overhaul the tax system

Contradictory AAR verdicts on CSR under GST regime baffle companies

Recently, the Uttar Pradesh AAR had held that CSR spend by companies is eligible for input tax credit

Cleaning up taxes

Govt must seize opportunity to reform holes in tax system