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Publication article
13 November 2017
Under the Finance Act 2016, the Central Board of Direct Taxes (CBDT) had inserted section 286 in the Income Tax Act, 1961 to implement the recommendation of 2015 Final Report on Action 13, titled “Transfer Pricing Documentation and Country-by-...
Publication article
13 November 2017
We are pleased to release our newsflash on the captioned subject. The 22ND GST council meeting was held on 6 October 2017 at New Delhi. The following are the key highlights of said meeting: -   Proposed revised GST rates for certain services -    ...
Publication article
13 November 2017
The new tax residency rule for foreign companies based on the concept of Place of Effective Management (‘PoEM’) has been effective since 1st April, 2017, i.e., Assessment Year 2017-18 onwards. Foreign Multinational Companies (MNCs) often establish...
Publication article
13 November 2017
We are pleased to release our newsflash on the captioned subject. Background: Under the Finance Act 2016, the Central Board of Direct Taxes (CBDT) had inserted section 286 in the Income Tax Act, 1961 to implement the recommendation of 2015 Final...
Publication article
13 November 2017
In a path breaking judgment, the Hon’ble Delhi High Court on 8 November 2017 has ruled that certain clauses of various Income Computation and Disclosure Standards (ICDS) are unconstitutional and also suffers from the vice of excessive delegation....
Publication article
13 November 2017
The 23rd GST council meeting was held on 10 November 2017 at Guwahati. The following are the key highlights of said meeting: -    Proposed revised GST rates for certain goods -    Proposed revised GST rate for restaurants. -    Relaxation in GST...
Publication article
16 November 2017
On 10th November 2017, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi gave its approval for entering into a Double Taxation Avoidance Agreement (DTAA) with Hong Kong. DTAA aims to avoid and reduce the burden of double taxation on...
Publication article
16 November 2017
The Mumbai ITAT in the case of ACIT V/s M/S D. Navinchandra Exports Pvt Ltd dated 25th October 2017  has dismissed Revenue’s appeal and upheld CIT(A)’s deletion of penalty u/s 271G imposed on assessees (diamond manufacturers & traders) for not...
Publication article
27 November 2017
On 10th November 2017, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi gave its approval for entering into a Double Taxation Avoidance Agreement (DTAA) with Hong Kong. DTAA aims to avoid and reduce the burden of double taxation on...
Publication article
27 November 2017
Section 143 (1) of the Income Tax Act, 1961 (‘the Act’) provides for prima facie adjustments to a return of income filed by the assessee, while processing the return of income. The ambit of prima facie adjustment was expanded by the Finance Act,...

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