28 February, 2015
The Finance Minister presented the Finance Bill, 2015 today. While no major relief has been announced on personal taxation, corporate taxes are proposed to be rationalised in a phased manner to bring down the rate of taxation. However, for the present, no change has been announced on rates of tax for companies. Incentives for investment in notified backward areas of Andhra P...
By R. Subhashree
The media, in recent months, has been focussing extensively on tax planning, tax avoidance and aggressive tax planning. All ingredients that go into a good story- big monied corporates funnelling money to low-tax jurisdictions, abusing the legitimate means and incentives , the shocked ordinary tax payer with no resources to plan or effect similar savings… have been used to...
7th February, 2012
The Union Budget will be presented by the Indian Finance Minister in the Parliament on 16th March, 2012, as per reports. This year, the budget exercise has been postponed due to elections to certain state assemblies.
Service Tax net is likely to be widened in the annual financial exercise. A negative list for taxing services is on the cards. Once implemented, except a few...
By R. Subhashree
“Certainty is integral to rule of law. Certainty and stability form the basic foundation of any fiscal system. Tax policy certainty is crucial for taxpayers (including foreign investors) to make rational economic choices in the most efficient manner...”
The Supreme Court of India’s observation in the Vodafone case emphasises certainty. A much sought after ideal by tax...
This issue of "Tax Amicus" covering major changes brought by Budget 2012 also discusses the features of new Service Tax regime based on Negative List. While Central Excise and Service Tax rates have been raised across the board to 12%, various new rules are being proposed in Service Tax. Cenvat credit Rules have been amended to introduce simplified scheme for refund of credit in case of exports...
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