The Firm

Show Timings:

Friday: 10.30 pm, Saturday: 11.30 am

Sunday: 9:30am & 11.00pm

CNBC TV18
Network18

September 2014: Tax & Regulatory Wrap

Published on Mon, Sep 15,2014 | 21:36, Updated at Wed, Sep 17 at 14:05Source : Moneycontrol.com 

In this alert, Nangia & Co. have summarized the following developments in the tax and regulatory space:    

DIRECT TAX  

1.       Sale of shares to a JV Partner at a loss is not a colourable device;

2.       Payment for use of license software and computer system to access a foreign company’s portal constitutes Royalty as per the India-UK DTAA;

3.       Profit on transfer of Equity Shares and Compulsory Convertible Debentures taxable as capital gains and not as interest income;

4.       Supreme Court accepts SLP against Delhi High Court’s order rejecting ALP determination based on FOB value of goods;

5.       Payment for use of intranet facility under guise of ‘cost sharing’ held to be ‘Royalty’;

6.       Sourcing support activities by a foreign company are entitled to the purchase exclusion provision;

CORPORATE AND ALLIED LAWS

7.       Social Security Agreement with Finland and Sweden comes into effect;

8.       The EPFO makes amendments to the Indian Social Security Schemes;

INDIRECT TAX

9.       No absolute bar in exercising writ jurisdiction merely because an alternate remedy is available;

10.    High Court quashes Rule 5A(2) of the Service Tax Rules and the CBEC instruction regarding maintenance and furnishing of records.

Attachments : Nangia & Co. - Tax & Regulatory Newsletter - September 2014.pdf
 
Twitter


 
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.