News & FAQs

Capital gain on buyback of shares held to be taxed as dividend

News & FAQs | By ALOK PATNIA | May 14, 2012

Now it’s common that any foreign investments coming into India are planned in a manner to lower the tax liability in India as possible....

Govt. may get estimates of Black money by September end

News & FAQs | By ALOK PATNIA | May 12, 2012

Indian Government may be able to identify an estimate of black money floating in its economy by end September. As per The Economic Times ...

Bipa does not cover Taxation Issues

News & FAQs | By ALOK PATNIA | May 12, 2012

International taxation issues didn’t come under the Bilateral Investment Promotion and Protection Agreement i.e., Bipa between India an...

Holding tax rates of Dhanbad Municipal Corporation may be reviewed

News & FAQs | By ALOK PATNIA | May 11, 2012

Holding tax rates fixed years ago of Dhanbad municipal corporation (DMC) may be reviewed, hinted by the Dhanbad town administrator. As pe...

New Scheme promoted by Government for Indians working abroad

News & FAQs | By ALOK PATNIA | May 11, 2012

Government is taking good initiative for the poor Indians working abroad. The Government of Indian is promoting a new scheme known as PIL...

Vodafone not the only target – the hunt has just begun for taxmen

News & FAQs | By ALOK PATNIA | May 10, 2012

The income-tax authorities will pursue all targeted cases that concern overseas transactions involving Indian assets, said a senior fina...

No Service Tax will be Leviable on the Activities Taxed by States

News & FAQs | By ALOK PATNIA | May 10, 2012

The government today agreed to make changes in the definition of ‘services’ in the Negative List to address states’ concern on the ...

Govt. holds back – Excise on gold jewellery & TDS on realty

News & FAQs | By ALOK PATNIA | May 9, 2012

Finance minister Pranab Mukherjee buckled under pressure from two powerful trade lobbies – jewellers and realtors – while dro...

Firms may shift to DTAAs Countries

News & FAQs | By ALOK PATNIA | May 9, 2012

As per The Business Standard: Finance Minister Pranab Mukherjee’s amendments to the Finance Bill 2012-13, have ensured companies operat...

Tax of Rs 550 cr collected by IT department under International taxation

News & FAQs | By ALOK PATNIA | May 8, 2012

From Foreign shipping companies doing business at Gujarat ports, Directorate of International Taxation of the Income Tax Department has r...

Foreign Banks Arms May Get Tax Relief

News & FAQs | By ALOK PATNIA | May 8, 2012

As per The Economic Times of India: Finance minister Pranab Mukherjee on 7th May 2012, encouraging foreign banks to incorporate in the co...

GAAR to be applicable for FY 2014

News & FAQs | By ALOK PATNIA | May 7, 2012

After weeks of protest by both foreign and Indian investors, FM Pranab Mukherjee on 7th May 2012 announced that the General Anti-Avoidanc...

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