All posts by nangia

Govt notifies faceless e-assessments in tax- Rakesh Nangia

The income tax department’s scheme for assessing tax returns electronically without any personal contact between officials and tax payers has become effective, with the government notifying the e-assessment scheme, 2019, on Friday. Rakesh Nangia, Managing Partner and Sandeep Jhunjhunwala, Director, Nangia Advisors(Andersen Global) share their views for following publications: Business Standard Livemint Financial Express Times of India Indian Express BloombergQuint Timesnow.com CNBCTV18.com IANS(News Agency) govt-notifies-faceless-e-assessments-in-tax-rakesh-nangia

Communique- Your Transfer Pricing Quarterly Tabloid

Tax and finance have been very much in the news lately. In July, the Finance Bill 2019 was presented by Modi Government 2.0, and now the new Direct Tax Code is under review. Discussions around economic growth, automobile industry downturn, fiscal deficit, bank credits, etc. are common. The Finance Bill 2019 (FB 2019) included amendments to rationalise and clarify the existing TP provisions. The Central Board of Direct Taxes (CBDT) has proposed changes in the draft policy for profit attribution to Permanent Establishment (PE). The litigation matters continued in the same vein and has resulted in some significant judgements. In the Global arena, United Nations has issued its draft report on Financial Transactions (FT); China has published its 10th Advance Pricing Arrangement (APA) Annual Report (AR); Singapore has published TP guidelines on commodity marketing and trading activities apart from regulatory updates in other countries around the world; to name a few. Accordingly, we discuss the above significant events/ happenings in this quarterly issue as tabulated below: Topic Page No.

Super rich surcharge for equity investors rolled back – Sunil Gidwani

In a move that is meant to counter the 48 days of turbulence in the stock market, the Government on Friday came with its first booster shot for the economy, rolling back the higher super-rich surcharge levied on capital gains in equity market for domestic and foreign investors. Sunil Gidwani, Partner shares his views on aforementioned story for following publications: super-rich-surcharge-for-equity-investors-rolled-back-sunil-gidwani