The Income Tax Department has asked Assessing Officers to scrutinise tax relief being claimed by sick companies as part of the rehabilitation scheme approved by the BIFR. The tax relief for sick companies approved by Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 will not automatically apply as the SICA has been repealed with effect from December 1, 2016. Shailesh Kumar, Director – Direct Taxation shares his views on aforementioned story for PTI(News Agency). (This story has been picked up by 45 other news publication like Financial Express, Economic Times, NDTV, moneycontrol.com, livemint, business standard etc.) Attached are links to the article: http://www.financialexpress.com/economy/income-tax-department-to-scrutinise-tax-relief-claims-by-sick-companies/552355/ http://economictimes.indiatimes.com/news/economy/policy/i-t-department-to-scrutinise-tax-relief-claims-by-sick-companies/articleshow/57165420.cms http://profit.ndtv.com/news/your-money/article-income-tax-department-to-scrutinise-relief-claims-by-sick-companies-1659765?utm_source=dlvr.it&utm_medium=twitter http://tickticknews.com/i-t-dept-to-scrutinise-tax-relief-claims-by-sick-cos/

Boutique consulting firms are now busy doing what they routinely advise Corporate India to do: Designing tangible career-growth opportunities and bulge-bracket pay packages for their crucial talent who may find competing Big4 offers too tempting to resist.

1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for Economic Times.

Attached is link to the article http://economictimes.indiatimes.com/industry/services/consultancy-/-audit/boutique-consulting-companies-recast-equity-structure-to-lure-talent/articleshow/57175964.cms

2. Sanjoli Maheshwari, Nangia & Co shares her views on Taxman to clamp down on charitable trusts for Hindu Business Line.

Attached is link to the article http://www.thehindubusinessline.com/economy/policy/taxman-to-clamp-down-on-charitable-trusts/article9545275.ece  

The Budget brings some cheer to individuals who own immovable property and wish to monetise the value of the property. In metros it is a common practice for property owners to enter into joint development agreement with developers for redevelopment of their property for monetary and non-monetary considerations.   Shailesh Kumar, Director- Direct Taxation contributed an article on How the budget impacts developers and home buyers for Financial Express.   Attached is link to the article http://www.financialexpress.com/money/union-budget-2017-5-ways-in-which-budget-impacted-home-buyers-and-developers/551549/