Tax portal troubles: High court quashes I-T demand on company indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
India Business News: The new income-tax (I-T) portal launched on June 7, which promised to be a gamechanger, continues to be plagued by glitches. Taxpayers and tax profess
Buyers and sellers of companies are clashing over how long they are willing to take responsibility for future tax liabilities, after the Centre allowed the tax department more time to relook at old transactions. This has emerged as a headwind for private equity (PE) players, in particular. It comes amid a record number of PE-backed mergers and acquisitions (M&As) over the last two years. PE funds are essentially schemes, which take money from a number of rich investors and use it to buy large stakes in companies. Sometimes, they buy out the existing owner. Funds were doing as many as five such buyout transactions a week in 2019 and 2020, according to data from London Stock Exchange Group deal tracker Refinitiv. Both years marked a record in the number (281) of such transactions.
Mar 11 2021, 4:11 PM
March 10 2021, 5:19 PM
March 11 2021, 4:11 PM
Singapore-based investment companies whoâve invested in Indian entities prior to 2017 stand to benefit from a recent order by the Authority for Advance Ruling.
Singapore-based investment companies whoâve invested in Indian entities prior to 2017 stand to benefit from a recent order by the Authority for Advance Ruling.
Capital gains arising to a Singapore company from transfer of shares in an Indian entity will not be taxed domestically, the authority has ruled. Such a transaction will only be taxed in Singapore as per the double tax avoidance agreement, it has held.
To recall, many multinational entities invested in India through the Singapore route to take advantage of the beneficial capital gains provisions under the 1994 DTAA. In 2016, the government curtailed the benefits under the Singapore tax treaty to say:
ITAT denies BoI Rs 183cr refund for foreign tax msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.