All posts by nangia

Budget 2017

Budget Wishlist: Amit Bhalla, Senior Manager shares Key areas to be watched out in Budget 2017 from TP point of view

The Indian Transfer pricing (TP) legislation, since its inception, has attracted a lot of attention for reasons ranging from some specific peculiarities in relation to the construction of core TP issues together with disputes revolving around them over the past few years.  Further, the Government of India has taken certain corrective measures to address them and to set aside the prevailing ambiguities.  But a lot is yet to be done and achieved. Here is Amit Bhalla, Senior Manager shares Key areas to be watched out in Budget 2017 from TP point of view:
Articles In Newspapers & Journals

Budget 2017: Realestate expectations and Black money: Arun Jaitley set to tighten screws on tax evaders

The income tax department is sitting on voluminous data collected by banks and financial institutions after the demonetisation drive. Owing to the new reporting requirements, banks and post offices are required to report all cumulative cash deposits above Rs 2.5 lakh and one-time cash deposits of more than Rs 50,000, and accordingly it is estimated that banks and financial institutions will report around 40 lakh accounts and The recent demonetisation drive by the government is expected to have a positive impact on the real estate sector in the long run as it would restrict the flow of black money into the sector. 1.  Suraj Nangia, Partner with inputs from Shailesh Kumar, Director contributed an article on Budget 2017: Arun Jaitley must stimulate real estate demand for Financial Express. Attached is link to the article http://www.financialexpress.com/budget/budget-2017-arun-jaitley-must-stimulate-real-estate-demand-5-top-changes-that-can-power-up-sector/528401/ 2.  Neha Malhotra, Executive Director contributed article on Budget 2017 – Black money: Arun Jaitley set to tighten screws on tax evaders for Financial Express. Attached is link to the article http://www.financialexpress.com/budget/budget-2017-and-black-money-arun-jaitley-set-to-tighten-screws-on-tax-evaders/529934/
Budget 2017

Budget 2017: Realestate expectations and Black money: Arun Jaitley set to tighten screws on tax evaders

The income tax department is sitting on voluminous data collected by banks and financial institutions after the demonetisation drive. Owing to the new reporting requirements, banks and post offices are required to report all cumulative cash deposits above Rs 2.5 lakh and one-time cash deposits of more than Rs 50,000, and accordingly it is estimated that banks and financial institutions will report around 40 lakh accounts and The recent demonetisation drive by the government is expected to have a positive impact on the real estate sector in the long run as it would restrict the flow of black money into the sector. 1.  Suraj Nangia, Partner with inputs from Shailesh Kumar, Director contributed an article on Budget 2017: Arun Jaitley must stimulate real estate demand for Financial Express. Attached is link to the article http://www.financialexpress.com/budget/budget-2017-arun-jaitley-must-stimulate-real-estate-demand-5-top-changes-that-can-power-up-sector/528401/ 2.  Neha Malhotra, Executive Director contributed article on Budget 2017 – Black money: Arun Jaitley set to tighten screws on tax evaders for Financial Express. Attached is link to the article http://www.financialexpress.com/budget/budget-2017-and-black-money-arun-jaitley-set-to-tighten-screws-on-tax-evaders/529934/
Budget 2017

GAAR From April 1, To Be Invoked In Fair, Rational Manner: CBDT

Seeking to assuage investor concerns ahead of the implementation of GAAR from April 1 this year, the Central Board of Direct Taxes (CBDT)on Friday said the provisions of tax avoidance rules will not apply to a transaction that does not carry a tax benefit based on the jurisdiction it is routed through. It said adequate procedural safeguards are in place to ensure that General Anti-Avoidance Rules (GAAR), which seek to prevent companies from routing transactions through other countries to avoid taxes, are invoked in “a uniform, fair and rational manner”.  
  1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for PTI(News Agency).
(This story has been picked up by 92 other news publication like BloomerbergQuint, Poineer, Buisness World, business Today, NDTV, Moneycontrol.com etc)   Attached are links to the article http://www.bloombergquint.com/business/2017/01/27/gaar-from-april-1-to-be-invoked-in-fair-rational-manner-says-tax-department http://www.dailypioneer.com/business/gaar-provisions-to-be-effective-from-april-1-2017.html http://www.businessworld.in/article/GAAR-From-April-1-To-Be-Invoked-In-Fair-Rational-Manner-CBDT/27-01-2017-112085/ http://www.businesstoday.in/current/economy-politics/gaar-from-april-1-to-be-invoked-in-fair-rational-manner-says-cbdt/story/245104.html  
  1. Rakesh Nangia, Managing Partner also shares his views on 5,000 suspicious accounts and cash deposits of Rs 1 crore or more under I-T scrutiny for Economic Times- Front page story
Attached is link to the article http://economictimes.indiatimes.com/news/economy/policy/5000-suspicious-accounts-and-cash-deposits-of-rs-1-crore-or-more-under-i-t-scrutiny/articleshow/56820307.cms