Search results for

Business reorganisation and restructuring in M&A activity has become an important and necessary tool for business strategy in India. Daksha Baxi and Vinita Krishnan of Khaitan & Co investigate the challenges taxpayers will face in light new provisions of Section 56 of the Income Tax Act, 1961.

Maja Arcyz has joined KPMG in the US, taking on the role of managing director in the firm’s International Corporate Services practice in New York.

Milind Kothari and Gaurav Shah of MZS & Associates analyse, with the aid of Indian case law, the challenges taxpayers in the shipping industry face from a cross-border tax and transfer pricing perspective.

India’s domestic tax law follows residency-based taxation rather than source-based taxation. For an Indian tax resident, worldwide income is taxable in India. The residential status thus impacts the scope of income liable to be taxed in India. K Subramanian and S Anantha Padmanabhan of Deloitte analyse the challenges taxpayers will face once the place of effective management concept is introduced.

In two separate judgments Delhi High Court ruled on the tax liability of Rolls Royce and Rolls Royce Singapore due to their operations in India. Common issue in both the matters was exposure to a permanent establishment (PE) in India and quantum of profits to be attributed to operations carried out by the PE in India. Sunil Jain of J Sagar & Associates investigates.

One of the least discussed proposed provisions in India’s Direct Taxes Code is the branch profits tax. The new law proposes to tax profits of the branches of the foreign companies carrying on business in India. Ajit Korde, Commissioner of Income Tax, Indian Revenue Service, discusses some of the aspects of the tax and argues that it should be higher up on taxpayer’s agendas.

Navigating India’s tax system is not an easy task. With two new tax laws expected in 2012 and growing aggression from officials, Jack Grocott got three of the country’s leading tax directors to share their knowledge and advice on how best to manage Indian tax.

Opinions are divided on whether the Direct Taxes Code (DTC) will be implemented on April 1 2012 or whether it will be ripped up and the least controversial aspects introduced quietly in the Finance Bill. One thing is for sure, change is on its way. Jack Grocott speaks to tax professionals to ask for their advice on how to prepare for the change.

Taxpayers, officials and advisers came together on September 6 & 7 to discuss all aspects of India’s tax system at International Tax Review’s second annual India Tax Forum in Delhi.

Tax evasion in India is an intensely politicised matter, and disputes such as that surrounding Hyundai Motor India Limited, which faces evasion charges amounting to Rs266 crore ($59 million), indicate that the issue is still as rife as ever. But recent initiatives such as the revised India-Switzerland tax treaty could mark the first significant steps towards reining the problem in. Matthew Gilleard investigates.