Gst rates decided, 4 slabs ranging from 5 to 28%eTailing India
In a 2 day deliberations in New Delhi beginning today, Government has finalised a 4-tier tax structure ranging from 5% to 28% under a proposed Goods and Services Tax (GST) with some tinkering of the Centre’s proposal.
Gst rates decided, 4 slabs ranging from 5 to 28%eTailing India
In a 2 day deliberations in New Delhi beginning today, Government has finalised a 4-tier tax structure ranging from 5% to 28% under a proposed Goods and Services Tax (GST) with some tinkering of the Centre’s proposal.
Honourable Finance Minister Nirmala Sitharaman has presented her second Union Budget in the Parliament on 01 February 2020. This Budget focused on bringing a series of measures aimed at promoting investments in the country, creating a world class infrastructure and stimulating economic growth.
We bring you our analysis of Direct Tax proposals announced by the Hon'ble Finance Minister at her budget speech. Some of the key takeaways are highlighted below:
• 15% concessional tax regime for new domestic manufacturing companies will now be applicable to Power-generating companies as well;
• Alternative personal tax regime made available for Individual/ HUFs
• Abolition of Dividend Distribution Tax (DDT);
• Advance Pricing Agreement and Safe Harbour Rules to cover Income Attribution to a Permanent Establishment (PE);
• Thin Capitalization provisions liberalized and have been made inapplicable to a debt provided by PE of non-resident engaged in the business of banking in India;
• TDS on e-commerce transactions;
• TCS on overseas remittances under Liberalised Remittance Scheme (LRS), purchase of overseas tour packages and purchase of goods;
• Threshold of residency for citizens & PIOs visiting India reduced from 182 days to 120 days. Further, definition of ‘Not ordinarily resident’ is also narrowed;
• Donations to charitable institutions made to be pre-filled in IT return form to claim exemptions for donations easily. Further the Income Tax exemption approvals to Charitable Institutions is made subject to renewal every five years
This presentation was made by Hirotsugu OINOMIKADO, Japan, at the 13th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 14-15 December 2017
Populism or Fiscal Prudence, what has Union Budget 2017 got for India?Investmentz
Feb 01, 2016 become a historic day in Indian politics as the Finance Minister Arun Jaitley merged the Union and Rail Budgets for the first time ever and presented it to the parliament. The general belief is that the FM this time has been able to strike a fine balance between ‘populism’ and ‘fiscal prudence’. On one end, allocating heavy budgets for expediting the progress of rural India and empowering the farmers were the need-of-the-hour priorities for the FM. On the other, there were many major fiscal commitments that did not leave much scope for the FM to sway too far from the roadmap that was laid down for lowering the deficits. The facts presented by the FM suggest that the government has been able to achieve this successfully. That said, it is crucial for India to know the various benefits of the Union Budget 2017.
The FM said GDP would grow at 11.75% in nominal terms in 2018, which would translate into a real growth rate of around 6.75% and inflation of around 5%. According to Jaitley, both these numbers are a reasonable assumption. Let us have a look at the breakup of projected tax collections in the following table:
The finance minister, Nirmala Sitharaman, at
a press conference dated 24th March 2020
has announced that taxpayers can complete
their tax-saving exercise and statutory
compliances for FY 2019-20 till June 30,
2020. The earlier deadline was March 31,
2020. It’s a big relief to the Taxpayers given
by the government.
Key Discussions about ‘Taxes’ and ‘IBC’ in Economic SurveyTaxmann
#EconomicSurvey Analysis
Download/Read through the Key Discussions about ‘Taxes’ and ‘IBC’ in Economic Survey Below.
Compiled by Taxmann’s Indirect Tax Research & Development Team
Honourable Finance Minister Nirmala Sitharaman has presented her second Union Budget in the Parliament on 01 February 2020. This Budget focused on bringing a series of measures aimed at promoting investments in the country, creating a world class infrastructure and stimulating economic growth.
We bring you our analysis of Direct Tax proposals announced by the Hon'ble Finance Minister at her budget speech. Some of the key takeaways are highlighted below:
• 15% concessional tax regime for new domestic manufacturing companies will now be applicable to Power-generating companies as well;
• Alternative personal tax regime made available for Individual/ HUFs
• Abolition of Dividend Distribution Tax (DDT);
• Advance Pricing Agreement and Safe Harbour Rules to cover Income Attribution to a Permanent Establishment (PE);
• Thin Capitalization provisions liberalized and have been made inapplicable to a debt provided by PE of non-resident engaged in the business of banking in India;
• TDS on e-commerce transactions;
• TCS on overseas remittances under Liberalised Remittance Scheme (LRS), purchase of overseas tour packages and purchase of goods;
• Threshold of residency for citizens & PIOs visiting India reduced from 182 days to 120 days. Further, definition of ‘Not ordinarily resident’ is also narrowed;
• Donations to charitable institutions made to be pre-filled in IT return form to claim exemptions for donations easily. Further the Income Tax exemption approvals to Charitable Institutions is made subject to renewal every five years
This presentation was made by Hirotsugu OINOMIKADO, Japan, at the 13th Annual Meeting of OECD-Asian Senior Budget Officials held in Bangkok, Thailand, on 14-15 December 2017
Populism or Fiscal Prudence, what has Union Budget 2017 got for India?Investmentz
Feb 01, 2016 become a historic day in Indian politics as the Finance Minister Arun Jaitley merged the Union and Rail Budgets for the first time ever and presented it to the parliament. The general belief is that the FM this time has been able to strike a fine balance between ‘populism’ and ‘fiscal prudence’. On one end, allocating heavy budgets for expediting the progress of rural India and empowering the farmers were the need-of-the-hour priorities for the FM. On the other, there were many major fiscal commitments that did not leave much scope for the FM to sway too far from the roadmap that was laid down for lowering the deficits. The facts presented by the FM suggest that the government has been able to achieve this successfully. That said, it is crucial for India to know the various benefits of the Union Budget 2017.
The FM said GDP would grow at 11.75% in nominal terms in 2018, which would translate into a real growth rate of around 6.75% and inflation of around 5%. According to Jaitley, both these numbers are a reasonable assumption. Let us have a look at the breakup of projected tax collections in the following table:
The finance minister, Nirmala Sitharaman, at
a press conference dated 24th March 2020
has announced that taxpayers can complete
their tax-saving exercise and statutory
compliances for FY 2019-20 till June 30,
2020. The earlier deadline was March 31,
2020. It’s a big relief to the Taxpayers given
by the government.
Key Discussions about ‘Taxes’ and ‘IBC’ in Economic SurveyTaxmann
#EconomicSurvey Analysis
Download/Read through the Key Discussions about ‘Taxes’ and ‘IBC’ in Economic Survey Below.
Compiled by Taxmann’s Indirect Tax Research & Development Team
The Union Budget 2018-19 is going to be the last full Budget of the incumbent government and will be keenly watched for the twin provisions of driving investment and growth on one hand while maintaining fiscal discipline on the other. CII expects Budget 2018-19 to focus on four key areas: investment revival, job creation, growth of the agricultural sector and development of the social sectors of education and healthcare. CII has recommended that the government stick to fiscal prudence which in turn will help in softening interest rates and boosting GDP growth in the near to medium-term. While a slippage from the budgeted target of 3.2 per cent of GDP fiscal deficit for FY18 looks imminent now, an attempt should be made to raise additional resources so as not to diverge from the targeted deficit level by a large magnitude. This month issue of CII Economy Matters focuses on Pre-Budget Expectations: 2018-19.
Dear Professional Colleagues,
Sharing with you "Due Dates-October Month, Tax Updates and Compilation of Judicial Rulings of Supreme Court, High Court, Income Tax Appellate Tribunal including rulings in the area of International Taxation and Transfer Pricing_September '20".
Hope you will find it useful and informative too.
Dear Professional Colleagues,
Sharing with you "Tax Updates and Compilation of Judicial Rulings of Supreme Court, High Court, Income Tax Appellate Tribunal including rulings in the area of International Taxation and Transfer Pricing_August '20".
Hope you will find it useful and informative too.
Regards
Dear Professional Colleagues,
Sharing with you "Tax Updates- February, '20".
Hope you will find it useful and informative too.
Regards
CA. Reetika G Agarwal
BUDGET 2020-TP PROPOSALS ANALYSIS
Key Highlights:
1. As per amended provisions, Form 3CEB filing date is 31st October 2020 for FY 2019-20.
2. Dispute Resolution Panel forum is now not limited to Transfer Pricing disputes only but also allowed to non residents for all disputes.
3. Provisions of interest limitation (Section 94B) would not apply to the interest paid to an Indian PE i.e. branch of a non-resident bank.
4. Advance Pricing Agreement (Section 92CC) and Safe Harbour Rules (Section 92CB) include the determination of attribution of profit to PE /business connection.
Dear Professional Colleagues,
Sharing with you "Budget Updates-2019". A brief analysis of:
1. Transfer Pricing Amendments
2. Individual Taxation-Tax Incentives
3. Tax Rates
Hope you will find it useful and informative too.
Regards
CA. Reetika G Agarwal
Direct Tax News, Direct Tax Case Laws, Transfer Pricing Case Laws, International taxation Case Laws etc.
Hope you all will find it useful and informative.
Pursuant to the amendment made by Finance Act 2017, omission of clause (i) of Section 92BA of the IT Act, 1961 (“The Act”) be deemed to be removed from statute since the beginning until and unless there is some saving clause or provision that pending proceedings shall be continued
1. nuance transcription services india (p.) ltd. v dy. cit [2017] 88 taxmann....Reetika G Agarwal
Outstanding Receivables from AE is an international transaction as per Explanation to Section 92B inserted by the Finance Act 2012 and non-charging of interest for a period exceeding 6 months requires ALP adjustment
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Adversarial Attention Modeling for Multi-dimensional Emotion Regression.pdf
Indian Advance Pricing Agreement regime moves forward with signing of five UAPAs and two BAPAs by CBDT in January, 2018
1. Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 07th February, 2018.
PRESS RELEASE
Indian Advance Pricing Agreement regime moves forward with signing of five
UAPAs and two BAPAs by CBDT in January, 2018
The Central Board of Direct Taxes (CBDT) has entered into five Unilateral
Advance Pricing Agreements (UAPA) and two Bilateral Advance Pricing Agreements
(BAPA) during the month of January, 2018. With the signing of these Agreements,
the total number of APAs entered into by the CBDT has gone up to 196. This
includes 178 Unilateral APAs and 18 Bilateral APAs. In the current financial year, a
total of 44 APAs (7 Bilateral and 37 Unilateral) have been signed till date.
The 2 Bilateral Agreements signed in the month of January, 2018, inter alia,
include the first BAPA signed with USA.
The 7 APAs entered into during January, 2018 pertain to various sectors of
the economy like Banking, Insurance, Investment Advisory, Information Technology,
Chemicals and Engineering. The international transactions covered in these
agreements include provision of IT enabled services, provision of software
development services, contract manufacturing, payment of royalty, sale of goods,
etc.
The progress of the APA scheme strengthens the Government’s resolve of
fostering a non-adversarial tax regime. The Indian APA programme has been
appreciated nationally and internationally for being able to address complex transfer
pricing issues in a fair and transparent manner.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT.