All posts by nangia

Articles In Newspapers & Journals

Task force on direct tax code submits report to Sitharaman – Sandeep Jhunjhunwala

A government panel tasked with overhauling the nearly six-decade-old Income-Tax Act on Monday recommended significant relief for taxpayers, including an across-the-board 25% tax rate for both local and foreign companies and changes in personal tax slabs to benefit middle and upper middle class Indians. Sandeep Jhunjhunwala, Director shares his views on Task force on direct tax code submits report to Sitharaman for IANS(News Agency) Task force on direct tax code submits report to Sitharaman
Articles In Newspapers & Journals

DTC panel suggests radical changes in income tax – Rakesh Nangia

A government panel tasked with overhauling the nearly six-decade-old Income-Tax Act on Monday recommended significant relief for taxpayers, including an across-the-board 25% tax rate for both local and foreign companies and changes in personal tax slabs to benefit middle and upper middle class Indians. Rakesh Nangia, Managing Partner with inputs from Sandeep Jhunjhunwala, Director shares his views on aforementioned story for Livemint- Front page/ First story. DTC panel suggests radical changes in income tax
Articles In Newspapers & Journals

Investments into oil and gas blocks eligible for depreciation: CBDT- Neeraj Agarwala

Investors are eligible for claiming depreciation on the amount spent on buying oil and gas blocks after adjusting for the cost of tangible assets, the government has said in a circular issued to clarify the treatment of investments into India’s energy assets. Neeraj Agarwala, Partner shares his views on aforementioned story for following publications: · Livemint- Standalone story · Hindu Business Line- Standalone story Investments into oil and gas blocks eligible for depreciation
Articles In Newspapers & Journals

Angel Tax: Summary relief for recognised start-ups – Rakesh Nangia

In what would bring clarity to the start-ups that have been served with notices by the income-tax department under the so-called angel tax provision, the Central Board of Direct Taxes on Thursday said the department would ‘summarily accept’ contention of start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT), if the notices pertained only to the angel tax section. Rakesh Nangia, Managing Partner shares his views on aforementioned story for following publications: Economic Times Business Standard- Front page story Hindu Business Line Livemint Financial Express PTI IANS angel-tax-summary-relief-for-recognised-start-ups-rakesh-nangia