Tag Archives: Rakesh Nangia

Letter to assessing officers: Don’t go overboard, CBDT tells field units- Rakesh Nangia

The Central Board of Direct Taxes (CBDT) has sent a missive to all assessing officers (AOs) to stick to protocol while pursuing cases of “limited scrutiny” and not resort to “fishing and roving inquiries” in such cases. The move comes at a time when the tax department’s field formations have apparently been on an overdrive after the demonetisation move brought large chunks of supposedly tax-evaded cash into the banking system. Rakesh Nangia, Managing Partner shares his views on CBDT shoots off letter to taxmen, says don’t go overboard on fishing and roving inquiries in wake of demonetisation drive for Financial Express. http://www.financialexpress.com/economy/cbdt-shoots-off-letter-to-taxmen-says-dont-go-overboard-on-fishing-and-roving-inquiries-in-wake-of-demonetisation-drive/957134/ Letter to assessing officersDon't go overboard CBDT tells field units-Rakesh Nangia

Automation, natural way to progress- Article by Rakesh Nangia

Today’s hottest sector are robotics, automation and artificial intelligence. Mind you, it’s much more than just a buzzword. Our day-to-day life is undergoing an overhauling. In healthcare, which is a basic necessity, robot-assisted surgeries take place every day in operating rooms across the country. Rakesh Nangia, Managing Partner and Neha Malhotra, Executive Director contributed an article on Automation, natural way to progress for Hindu Business Line. Automation, natural way to progress- Article by Rakesh Nangia  

Nangia & Co LLP selected first Indian member firm of Praxity

Nangia & Co LLP with Praxity alliance will help its clients realize their global potential well beyond India’s borders. Through this alliance, an international network of like-minded, independent accounting firms, Nangia’s would be able to bring the world of business to its clients.

Commenting on this development Rakesh Nangia, Managing Partner, Nangia & Co LLP said “Nangia & Co LLP, an organically grown Chartered Accountancy Firm, with presence for over three decades has grown exponentially in the last decade. Praxity ensures that each of its member firms are highly rated by its peer, committed to ‘best in class’ service cultures and they found us fitting to be a Praxity member firm. Participation in this alliance will provide our clients with seamless international experience, local market insights, strategic partnerships and regulatory guidance, wherever they do their business.”

This news has been carrired by top leading publications:

  1. Financial Express
  2. PTI

(News flashed by PTI has been carried by Business Standard, Deccan chronicle, Asian age, Outlook Inida, India today and 15 other news portal)

Praxity Nangia & CO LLP

first Indian member firm of Praxity - Nangia & CO LLP

Praxity - First Indian Firm - Nangia & CO LLP

Private equity, venture capital funds get relief from Vodafone-type tax – Rakesh Nangia

In a boost to the Alternate Investment Funds (AIF) industry, tax authorities have clarified that non-resident investors investing through multi-layered structures would not be covered under the ambit of “indirect transfer” provisions of the income tax law.  The latest Central Board of Direct Taxes (CBDT) move will allay the concerns of investment funds, including private equity and venture capital funds, which feared multiple taxation of the same income at the time of subsequent redemption or buyback by non-residents in their offshore entities.

  1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for Hindu Business Line.
  2. Suraj Nangia, Partner  shares his views on the queries raised by Financial Express readers.
Vodafone-type tax - Rakesh Nangia Your queries section by Suraj Nangia