The Central Board of Direct Taxes (CBDT) has issued a draft notification detailing the computation process for various parameters involved in arriving at the tax liability of a foreign company, in case the company qualifies to becomes a resident in India for the first time under the rules of Place of Effective Management (PoEM). Rakesh Nangia, Manging Partner shares his views on aforementioned story for following publications:

1. The Hindu – Standalone story
2. Hindu Business Line – Standalone story
3. Financial Express- Standalone story

Empowered by the new NPA ordinance, the RBI on Tuesday went into fire-fighting mode, identifying 12 big defaulters for insolvency. The RBI’s Internal Advisory Council (IAC) recommending these accounts — constituting a fourth of the system’s bad loans — for immediate resolution is no doubt welcome. Neha Malhotra, Executive Director shares her views on aforementioned story for Hindu Business Line.

The state of Indiana has entered into a $31 million deal made up of tax incentives and training grants with India-based tech giant Infosys Ltd, signaling a push for technology firms to hire U.S. workers in lieu of hiring foreign workers through the H1-B visa program. Infosys plans to invest more than $8.7 million and hire 2,000 high-skilled employees by the end of 2021.

1. Neha Malhotra, Executive Director shares her views on aforementioned story for BloombergBNA.
2. Neha Malhotra, Executive Director contributed an article on Income tax returns: Here’s how to use tax sops optimally for Financial Express.

 

The India tax authorities have perpetually taken a view that the incurrence of excess AMP expenditure by the Indian taxpayers has incidentally benefitted its IP owning associated enterprise (“AEs”) in promoting and thereby, enhancing the value of the brand/trademarks. Rakesh Nangia, Managing Partner and Amit Agarwal, Partner with inputs from Amit Bhalla, Associate Director contributed an article on The AMP Controversy: An Unfinished Agenda discussing how the recent Tribunal ruling in case of Hyundai Motor India Limited has added a new observations to it for Corporate Professionals today- Taxmann.