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CBDT has issued draft rules to compute fair market value of assets of foreign company with underlying Indian asset for computing taxability under indirect transfer of assets
Madras High Court has held that income-tax refund is a 'debt claim' due from the Government and interest thereon is exempt under Article 12(3) of India-Italy tax treaty
CBDT clarifies that the business of printing or printing and publishing amounts to manufacture or production of an article or thing and is accordingly eligible for additional depreciation u/s 32(1)(iia) of the Act.
The Ministry of Corporate Affairs (MCA),vide its Notification dated 18.05.2016, has designated some Courts which would work as the “Special Courts’ for the purpose of trial of offences punishable under the Companies Act, 2013 with imprisonment of two years or more in terms of Section 435. MCA has also on same date notified Section 2 (29)(iv), Sections 435 to 438 (both Sections inclusive) and Section 440 of the Companies Act, 2013.
India and Mauritius have agreed to amend their 32-year-old bilateral tax treaty in an attempt to check `round-tripping' of funds and ensure that no entity gets away without paying taxes in either country. The amended treaty would give source based taxation rights to India to tax capital gains. READ ABOUT 'AMENDMENT IN INDIA-MAURITIUS TREATY' in Articles section of the website.
CBDT releases Draft Rules for grant of Foreign Tax Credit
“MCA has decided to relax additional fees payable on e-forms which are due for filing by companies between 25th March, 2016 to 30th April, 2016 as one time waiver of additional fees and it is also clarified that if such due e-forms are filed after 10.03.2016, no such relaxation shall be allowed
CBDT notifies new income tax return forms for AY 2016-17
Our Firm's international reach expands significantly. Morison International (MI) and KS International (KSi) have merged to form a US$1 billion strong international association. The name of the new association will be Morison KSi.
Our senior partner, Mr. Sanjay Vasudeva has been elected to the Central Council of ICAI.
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