Budget 2018: Direct tax—hits and misses On the tax front, following the trend of previous years, the Budget continues to focus on increasing taxpayer base and moves away from providing tax exemptions—it is a combination of various hits and misses.
The amended provisions give an ambiguous interpretation of capitalising all the borrowing costs under the prescribed formula, irrespective of their actual utilisation for capital purposes
Determining the constituents of the formula and its application in practical situations has thrown up various interpretational issues
It is a welcome move in the prevailing industrial environment, where Indian companies are seeking to expand their global footprint.
BEPS cannot be brought into effect until multilateral agreements between nations get executed