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”.
Rakesh Nangia, Managing Partner shares his views on aforementioned story for PTI(News Agency).
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
With the two key decisions – one, implementing GST and the other, demonetization – being taken last year, the Union Budget 2017-18 is definitely going to be unique, even historic, in many ways. The Finance Act, 2016, started the process of phasing out of various deductions and also reduced the rate of tax to 29% in case of certain class of domestic companies. It will be interesting to see as to how the government will take this forward in the Budget 2017-18 .
Here are the Nangia’s Experts sharing expectations from Budget 2017.
As we are steadily climbing notches in the ladder of ease of doing business, a much-needed push to the manufacturing sector is important to sustain and promote an all-inclusive growth. While the efforts of the Government in this direction are laudable, certain issues do remain which are holding back the growth of the manufacturing sector.
Here is Amit Agarwal, Partner, Nangia & Co sharing what are the expectations of manufacturing sector’s from the budget 2017:
You can watch the video on below link:
The foreign investment landscape in India has witnessed a bout of regulatory activity under the present administration. While the Indian Government has introduced relaxations in the foreign investment regulations and recognised the need to ensure a non-adversarial tax regime, it has also struggled to strike an appropriate balance between its resolve of popularising the “Make-in-India” campaign on one hand, and protecting its revenue base and preventing tax seepages on the other hand.
Here is Rahul Jain, Partner, Nangia & Co sharing What are the foreign investor’s expectations from Budget 2017
You can also watch the video on below link:
