Frictions between the two are bound to arise and sensationalism of the likes of “Panama and Paradise Papers” will accentuate challenges for legitimate tax-compliant investors and tax administrators.
Budget 2017 confers unfettered powers on the taxman at the cost of taxpayer rights.
Phasing out of the FIPB which over a period of time has lost its relevance, will cut a layer of red tape
Window dressing by holding back refunds, appeal effects, etc, in the last quarter of the fiscal to achieve budgeted figures and postponing them to the first quarter of next fiscal are symptoms of the malady of unrealistic tax collection targets
The present regime is competitive and levels the playing field
Govt is duty-bound to discourage political parties from accessing and spending unaccounted income
The year 2016 will undoubtedly be commemorated for tectonic changes in the global and domestic environment, including Brexit, election of Donald Trump as the US president, and closer home.
India is not the only country with rising anti-cash movement as the fight against a cash-dominated economy is here to stay and could well intensify.
The decision of the nine-judge SC bench on entry taxes doesn’t address trade nuances
The European Commission’s ruling in the Apple-Ireland matter locks horns with multilateral tax diplomacy under BEPS
The 2016 Bill, viewed in the light of earlier versions, carries significant insights in so far as the future of dispute settlement is concerned
It remains to be seen if India will reconsider its stand on international arbitration in tax treaties
A question tax professionals are often asked is: Has the government done enough to address the situation on tax? Several negative catchphrase…
The Delhi HC has delivered path-breaking and bold verdicts, quashing proceedings initiated by CBDT and CBEC administrative guidance for assessments and subsequent denial of benefits.
Corporate tax for start-ups and MSMEs have been rationalised to 25% and 29%, respectively. an across-the-board cut in the tax rate will need to wait, given compulsions on the revenue side
Most tax incentive provisions in the I-T Act are intended to catalyse investments in sectors focal to achieving socio-economic growth targets. Eliminating all extant tax incentives could prove counterproductive. It is imperative that incentives are categorised in the decreasing order of their dispensability.
This will discourage MNCs from locating their headquarters or regional functions in India
While labour has been a key competitive advantage, we need to simplify laws to maintain the edge.
An implementable roadmap to realign tax rates and incentives, without disrupting the investment cycle, is going to be a tightrope walk
The MAT controversy is a good reason for the govt to review taxation of capital markets transactions
Company Law must replace it with a simplified disclosure and a modern regime
The regulators’ wide discretionary powers and ambiguous legislation are hurdles for a stable legal framework.
It has been a year since the NDA government came to power on the promise of inclusive growth.
The world is adopting the GAAR; we cannot simply have the SAAR. Transfer pricing is not enough. The main challenge is that it should be applied in the right way.
The govt must carry out important domestic policy and administrative reforms to complement new BITs
The tax collection projections display realism—10% in corporate tax, 12% in individual income and robust 19% and 24% increases in excise and service tax collections, respectively
It must outline a time-frame for GST roll-out and lay down a new roadmap for DTC implementation