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- Tax: Retrospective tax still a concern for foreign investors
India is working to align its transfer pricing regime with global best practices. How far has it come?
- Tax: Phase out of incentives in line with DTC agenda
Incentives tend to create distortions between investments backed by incentives and those without incentives and encourage rent-seeking behavior.
- GST: Break free of the legacy mindset
The Goods and Services Tax processes, in their current avatar, appear one sided. What we need is a transparent, consultative mechanism.
- Tax:This festive season - physical or paper gold?
Physical gold offers you added tax benefit after recent Government schemes, while paper gold gives you reasonable interest on a semi-annual basis.
- Tax: Unilateral, bilateral, multilateral: winds of change post-BEPS
With the adoption of the BEPS package, OECD and G20 countries, as well as all developing countries that have participated in its development, will lay the foundations of a modern international tax framework under which profits are taxed where economic activity and value creation occurs.
- Tax: Impact of BEPS Action 6 on collective investment vehicles
In 2013, the Organisation for Economic Cooperation and Development (OECD) released a series of proposed tax measures for eliminating corporate tax structures that shift profits to foreign jurisdictions.
- Tax: BEPS recommendation impediment for Indian MNEs?
At the request of the G20, OECD published its Action Plan on addressing ‘base erosion and profit shifting’ (BEPS) in July 2013, wherein it identified 15 actions on BEPS for future work, intending to carry out fundamental changes to the international tax standards.
- Tax: Tax avoidance, a global scourge
The Government will likely implement some BEPS recommendations in the next budget. Stakeholders should be well prepared to ensure no serious business disruption or protracted litigation.
- Tax: India tax in a post-BEPS world
Tax payers might have to relook at their supply chains, holding and financing structures to determine their relevance in the emerging paradigm.
- Tax: Is India ready for BEPS?
Taxpayers must evaluate the implications of recommendations of BEPS, as also monitor legislative and tax administrative developments in countries of their interest.
- Tax: Unilateral, bilateral, multilateral: winds of change post-BEPS
Countries can look at re-negotiating bilateral tax treaties, since tax treaty changes will be addressed under the multilateral instrument and will take a couple of years.
- Advisory: Robust regulatory framework is need of the hour
Heading the Climate Change and Sustainability Services division at international tax advisory giant Ernst & Young, Spanish politician-turned-climate-change-crusader Juan Costa Climent is recognised globally for his advocacy of aligning business practices with environment protection.
- Tax: Delay in housing projects to have repercussions
Delay in possession of an under-construction house could have significant adverse tax consequences for a taxpayer in terms of higher pre-EMI costs and rental wastage.
- Telecommunication: Spectrum sharing - will pave the way for caring
Operators should also be able to trade spectrum to avail of exit options and act as per their unique business needs.
- Tax: MAT under debate
The applicability of Minimum Alternate Tax (MAT) is an extension of the regulatory requirements of the Companies Act and not an independent clause.
- Tax: MAT put to rest – temporary relief for FPIs
There is no clarity on the applicability of MAT on past year transactions for other foreign companies that may be strategic, long-term investors in the Indian market.
- Career Watch: Sponsors improving gender diversity at companies
Quoting Karyn Twaronite, Partner and Global Diversity & Inclusiveness Leader, EY, "A mentor stands by your side, while a sponsor is one who is in front of you."
- Advisory: Hedge, to cope with commodity swings
Companies can no longer adopt a wait-and-watch approach to deal with price volatility.
- Tax: Breaking the GST impasse
The proposed tax regime’s final design is the responsibility of the GST Council, not the GST Bill.
- Advisory: Is Aadhaar enough?
With the Supreme Court stating that Aadhaar is not the only mandatory proof, the Parliament might have to step in and prove its legitimacy.
- Tax: Tax rate of just 10% to replace existing structure
In an interview with Mythili Bhusnurmath, ET Now, Satya Poddar comments on goods and services tax (GST) bill recommendations by the Rajya Sabha's select panel.
- Tax: GST: still not a lost cause
Despite the select panel’s report, the GST bill can still be saved with simple adjustments and support from stakeholders.
- FIDS: Barbarians at the gateway
We suggest a three-pronged approach for companies to safeguard themselves from cyber terrorism and ensure information security.
- Telecommunication: Combating call drops
All stakeholders need to come together to create an enabling environment, with the installation of telecom towers being given priority.
- Tax: Black Money Law – getting the basics right
Taxpayers have to declare undisclosed overseas assets by 30 September 2015. Subsequently, taxes and penalty have to be paid by 31 December 2015.
- Tax: Understanding the provisions of advance tax
Advance tax payment is a must in India for certain tax payers. Read about who should pay advance tax and the governing rules.
- Tax: Losses could help maximize your tax benefits
The carry forward of losses to subsequent financial years is possible only if income tax return is filed within the due date.
- Tax: Income tax return filing – the finer details
Aditya Mohani highlights essential nuances that all taxpayers should be aware of while filling out ITR forms.
- Advisory: Cloud adoption: redefining business
Cloud is changing the way the business world operations. Enterprises will benefit from tying up with experienced service providers to draw full benefit.
- Advisory: Life insurance valuation: changing the rules
Life insurance is one of the most competitive sectors in India. With about two dozen insurers, including large foreign participants, sector consolidation is inevitable.
- Advisory: Cyber security: oil and gas sector’s safety net
Increasing complexity in information technology is leading to greater cybercrime vulnerabilities. Oil and gas companies will need to ramp up their cyber security models accordingly.
- Tax: New tax return forms may increase compliance
The new ITR form is indicative of the Government’s attempt to collect information prudently and simplify return filing.
- Tax: GST: A mixed bag for small units
SMEs will finally be able to enjoy a level-playing field in pricing, but a steep reduction in duty threshold is a concern.
- Tax: Simplified I-T forms relief for expatriate employees
Foreign nationals in India on business, employment or student visa no longer have to report foreign assets.
- Tax: Making NDA’s economic initiatives work
The Government needs an underlying strategy to weave together the disjointed ministerial initiatives.
- Tax: New ITR form favors taxpayers
The new ITR form will likely help simplify the filing of tax returns and allow easy tracking of income and assets of ordinarily resident taxpayers.
- FIDS: Defaulters in for a tough time
The RBI’s recent circular to banks demonstrates its commitment to detect, report, mitigate and fix accountability for loan fraud.
- Tax: Deciphering A 'Range' Of Transfer Pricing Issues
Indian TP provisions are increasingly adhering with globally accepted practices. The CBDT now needs to resolve some pertinent issues before releasing the final rules.
- Tax: GDRs & Tax: The Debate Continues!
GDRs are a move in the right direction, but more clarity is required around their taxation.
- Tax: Tax Residency Provisions For Non-Indian Companies
Determining whether the “place of effective management” for an entity is India should be basis a complete tax year.
- Tax: ICDS & Interest Deduction
Deviations from accounting standards and amendments to the Income-tax Act, 1961, would result in high borrowing costs.
- Tax: Government Grants Face The Axe!
The government is making concerted efforts to tax subsidies granted to taxpayers who partner with public bodies for benefitting the society at large.
- Tax: Tax concerns: half way through resolution
The government has done a commendable job of resolving retrospective taxation concerns. It now needs to take a stand on certain contentious tax issues.
- Tax: GST should be a good and simple tax
GST will prove 'good' if the issue of tax cascading is resolved and 'simple' if its application is neutral/uniform for all goods and services.
- Tax: Black money Bill gives a chance to come clean
The Black Money Act, 2015, is the last chance for people stashing black money in foreign banks to save face.
- Tax: MAT on FPIs, the saga continues
Clarity on MAT levy can only be expected after Justice AP Shah Committee’s recommendations and the outcome of the Supreme Court ruling.
- Telecommunication: Go for zero-rating
In light of the focus on a Digital India by 2020, zero-rating plans will help bridge the connectivity divide.
- FIDS: When Gifts Are Bribes
Companies must engage in clear documentation to ensure that their gifts and momentos to customers/employees/government officials are not misinterpreted as attempts of bribery and corruption.
- FIDS: Stressed banking systems – solutions and way forward
Banks need to strengthen their fraud detection mechanism via analytics to monitor red flags in a timely and effective fashion.
- FIDS: Taking a pro-arbitration turn
India’s regulatory framework is catching up with international trends, as it opens up to arbitration amid increasingly complex cases.
- FIDS: Frauds In The Age of ‘Netocracy’
Data security has become the top priority as internet has emerged as the primary mode of all communication.
- FIDS: Upholding the integrity of the Lokpal
The Lokpal Bill is a step in the right direction for private India to mitigate corruption and bribery.
- FIDS: A Timely Check Needed To Curb Frauds
Firms need to see the benefits of complying with the Companies Act 2013 and build a robust fraud risk management system.
- FIDS: Expansion of entrepreneurial ecosystem: PEs plan to ensure due diligence to make the right investment
'New age' entrepreneurs are relying on pre and post due diligence to secure their investments amid rising risk.
- FIDS: Does providing complimentary hotel stay to government officials violate FCPA?
Companies need to strengthen their compliance framework by training all stakeholders on FCPA.
- Advisory:More than meets the eye
CSOs must increasingly provide innovation, incubation and implementation ideas and support to CEOs.
- Advisory:E-retail - Short-term valuation or long-term value creation?
E-commerce is a hotbed, but players now need to strengthen warehouse optimisation, loyalty management, recruitment, backend technology infrastructure, digital store front and logistics management.
- Advisory:Cyber Security – What’s Your Plan?
All organizations are prone to cyber attack and must, thus, develop a solid risk strategy after gaining clear understanding of cybercrime.
- Advisory:Target $15 billion, EY advisory business looks to disrupt self
EY anticipates emerging markets, like India, to account for 30% revenue by 2020; it has allocated $1.5 billion to support growth.
- Advisory:Why cutting costs is a priority for businesses
Companies are going beyond simple cost cutting and are employing total cost management techniques for new product development, solution differentiation and better customer experience.
- Advisory:There’s a positive recognition of India’s growth intentions
Steve Martin is very hopeful about India’s potential. He emphasizes focus on quality hiring, and cost will be secondary in building highest-performing teams.
- Telecom: Bridging the digital divide in India
Zero-rating programs are set to considerably drive internet uptake and benefit the larger population.
- Tax: Why put FPIs on the MAT
Minimum alternative tax (MAT) has again stirred unrest among foreign portfolio investors (FPIs). There is need for “rationalisation” for a transparent and stable tax regime.
- Tax: UFIA Bill could impact Make in India policy
The Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015, popularly called the "anti-black money bill" has been in the news for its stringent and sweeping provisions.
- Tax: The gains of scrapping wealth tax
The government’s objective in doing away with wealth tax was to increase tax revenues, reduce administrative burden of revenue authorities and curb the menace of black money. However, whether these goals will be achieved in real time is something that only time will tell.
- Tax: Manufacturing vs services
The authorities need to lay equal reliance on manufacturing and services for ensuring holistic economic development.
- Transfer Pricing: Tackling transfer pricing
Delaying the filing of TP documentation is a common mistake, but it is thankfully easily avoidable. Taxpayers can turn to avenues such as APAs to mitigate audit risk.
- Transfer Pricing: The APA rollback solution
The Indian APA programme has received a tremendous response from taxpayers craving for certainty in their tax obligations arising from transfer pricing matters.
- Budget 2015: Column: Budget signals GST rate will not be moderate
The Budget reaffirms the GST implementation date of April 2016, but does not provide any details of its design or the roadmap for its implementation.
- Budget 2015: Opinion: Black Money Measure a Welcome Move in Budget
Finance Minister Arun Jaitley's Union Budget 2015-16 has set out the tone for a long term growth strategy, consistent with the ambition of Prime Minister Narendra Modi.
- Budget 2015: Opinion: Budget a Mixed Bag for Auto Sector
Prime Minister Narendra Modi's first full-year Budget was perhaps one of the most talked about Budget with huge industry expectations in light of the 'Make in India' program.
- Budget 2015: Opinion: Limelight on Financial Services Sector in Budget
Several representations were made to the government to rationalise the taxes and provide certainty. Several concerns have been heard.
- Budget 2015: Reform oriented stance to address issues in BFSI
The government has strived to create an enabling legislative environment for financial services players by introducing radical reforms.
- Budget 2015: FM puts education sector on high growth path
Budget 2015 has closed some of the existing gaps in the education space and has set the ground for new reforms.
- Budget 2015: FM facilitates ease of doing business for manufacturing sector
Budget 2015 is a strong indication of the government’s intent to boost the sector by mobilizing additional resources and reviving investments.
- Budget 2015: A challenge for corporate India to be GST-ready
For successful implementation of the GST design, businesses have to develop alternative scenarios while also analysing the impact on the accounting and compliance framework.
- Budget 2015: Choosing fiscal prudence over short-term popularity
The budget is ably balanced by focusing on raising revenue and surcharge on the super-rich. Issues relating to black money will be dealt with gravity.
- Budget 2015: Seven measures that will make the tax payer happy
The Government has taken a seven-fold measure to enhance the budget while placating the common people with a slew of exemptions.
- Budget 2015: How indirect taxes will act as growth catalysts
Increase in the service tax rate and excise duty, among others, is paving a way for transformation in the indirect tax regime.
- Budget 2015: Govt determined to deliver change that will reignite international investors' confidence
This year’s progressive budget is based on logical macroeconomic principles and has provided India a platform to highlight trade and commerce globally.
- Budget 2015: Reduction in corporate tax rates to ultimately usher in job opportunities
Positive budget reforms have shed a positive light with respect to tax laws and non-adversarial tax regime. Increase in job opportunities will also help the manufacturing sector.
- Budget 2015: Budget 2015 doesn't offer much for the telecom sector
JAM (Jan Dhan, Aadhar and Mobile) will boost direct transfer of benefits to the telecom sector though measures have to be taken to answers the sector’s queries.
- Budget 2015: What FM had in store for Private Equity players
Measures are taken to address most expectations including grant of pass through status to Category I and Category II AIFs and further taxation steps of REITs and InvITs.
- Budget 2015: Implementation of GST on April 2016, a reality or mirage?
GST to be implemented from next year, will be a game-changing reform. Following requisite steps, it will provide buoyancy to the economy.
- Budget 2015: India's much needed tryst with renewable energy continues
The search is on for renewable energy sources while the Government looks at ways to generate solar, wind, hydro, geothermal, biomass power.
- Budget 2015: Financial services sector's wish-list partly addressed
Reduction in future corporate tax rates, deferral of GAAR, and clarity on indirect transfer provisions are welcome steps though modifications are required to enhance impact of certain provisions.
- Budget 2015: GST expected to act as a catalyst to bring back buoyancy in demand for auto industry
Increase in metallurgical coke’s excise duty, hike in clean energy cess would result in escalation of costs of steel – a major raw material for the Auto industry.
- Budget 2015: Union EY spots few significant budget proposals on personal tax
Though personal tax rates remain unchanged, the FM offered inflation adjusted tax benefits. He also enhanced tax benefits related to healthcare and for senior citizens.
- Budget 2015: Union REIT and infra become attractive for investors, says EY
Budget 2015 provides a platform for growth of real estate and infrastructure. FM announced tax efficient means of funding existing and new projects in these sectors.
- Budget 2015: FM defines roadmap for 'Make in India' campaign
Budget unveiled multiple proposals to minimize delay in manufacturing projects’ clearance, develop infrastructure, make it easier to do business and more importantly, to generate employment.
- Budget 2015: FM acknowledges role of tech entrepreneurship, says EY
FM proposes to establish a mechanism for encouraging technology start-ups under a program known as SETU (Self-Employment and Talent Utilisation).
- Budget 2015: Need course correction for manufacturing sector in Budget
Cheap imports from China and other South East Asian countries have added to the woes of Indian manufacturers.
- Budget 2015: Hike in the exemption limit to Rs 3 lakh to provide incremental stimulus
The underlying theme of the FY2016 budget would be tax revenue erosion in FY2015.
- Budget 2015: GST could be key to unlock issues faced by e-commerce sector
Unfortunately, for the e-commerce sector, the indirect tax laws in India have been more of a snag than a driver for growth.
- Budget 2015: Need affordable and accessible healthcare for the masses
This article focuses on the various fiscal measures which could act as key catalyst to fillip growth in the Pharma sector.
- Budget 2015: Imperative to have non-adversarial policy regime to meet India's energy needs
What are the expectations of the energy sector from Budget 2015?
- Budget 2015: Indirect taxes – One of the growth catalysts
Focus of Budget 2015 would be on encouraging investment, improving productivity, reducing compliance and more effectively managing tax controversy.
- Budget 2015: Expect single-window clearance and increasing role of e-governance to fast-track infra projects
The success of 'Make in India' would hinge on the ability to attract foreign investment and to boost the business environment in India.
- Budget 2015: Will Budget 2015 bring "Acche din" for the common man? 12 things to watch out for
The budget would reflect the vision of the country's leadership by the "popular" government for the next 5 years.
- Budget 2015: Expect a clear and time bound roadmap to GST
It is expected that with the implementation of GST, multiple incidence of taxes and leakages on account of unavailability of tax credits, can be eliminated.
- Budget 2015: Will it make India an attractive investment destination?
It is no surprise then that the upcoming Budget 2015 has already caught the attention of Global businesses keen to evidence intent and action.
- Budget 2015: GST can manage inflation and create buoyancy in the economy
The impending implementation of Goods & Services Tax (GST) in India aspires to streamline and simplify the application, management and governance of indirect taxes going forward.
- Budget 2015: Would Modi Budget smoothen the Auto Industry's bumpy ride?
With "growth" and "make-in-India" expected to be the fulcrums of the coming budget, the auto industry has pinned its hope on the new Government to announce reforms.
- Budget 2015: India needs to embed certainty, predictability, stability in its tax environment
The Prime Minister's renewed pitch to sell the India-story anew globally is being welcomed by international players.
- Budget 2015: Financial Services calls for rationalization of taxation laws
The outlook of the financial services sector from a taxation standpoint calls for rationalization of taxation laws.
- Budget 2015: Much need impetus required for Real Estate sector
Real Estate is keenly looking forward towards Budget 2015 to provide the much needed stimulus.
- Budget 2015: Telecom sector hopes further growth in demand for data services
Telecom sector is expecting further growth in demand for data services with the Modi Government's focus to make a 'Digital India'.
- Budget 2015: Bold steps in BFSI to ensure economic growth, says EY
Bank investment company and specialized ARC structures can bring in lasting positive impact on the financial services sector; healthy credit growth means high GDP growth.
- Budget 2015: Telecom wants clarity on withholding tax issues, says EY
What does the telecom industry expect from Budget 2015?
- Budget 2015: Opinion: Income Tax Exemption Must Be Hiked to 5 Lakh
Come Budget time - the individual tax payer expects increased exemption limit and permissible deductions.
- Budget 2015: Opinion: Clarity on GST is Keenly Awaited
The expectations of the businesses from the new government continue to be high and the upcoming Union Budget is anticipated as the "first real Budget" of the NDA government.
- Budget 2015: Opinion: Jaitley Should Consider Excise Duty Cut for Auto Sector
What are the expectations of the auto sector from Budget 2015?
- Budget 2015: Opinion: Jaitley Should Provide Tax Certainty to Investors
Explore the key expectations of the financial services sector from Budget 2015.
- Budget 2015: Opinion: Retail Industry Eyeing Big Bang Reforms
It's time for Finance Minister to unveil the pro-growth reforms which the India Inc has been yearning for.
- Budget 2015: Opinion: MAT on Infrastructure Companies Should Be Abolished
A lot needs to be done in order to improve the ground realities if we really intend to make India, a world-class infrastructure hub.
- Budget 2015: Opinion: Telecom Industry Eyes Reforms for Digitising India
What are the expectations of the telecom industry from Budget 2015?
- Budget 2015: Education Sector Needs Tax Benefits for Knowledge Hubs: EY
Explore the expectations of the education sector from Budget 2015.
- Budget 2015: Strike right balance between 'Achche din' hopes and fiscal prudence
It is crucial for the government to strike the right balance between high expectations and fiscal prudence.
- Budget 2015: Leather, textiles need a leg up
The two sectors have tremendous export potential, but are bogged down by procedural hassles and lack of incentives.
- Budget 2015: Budget 2015-16: Boost to Oil & Gas required for energy security, says EY
There are certain long pending demands of the industry on the tax front, which if accepted would give a boost to the industry.
- Budget 2015: 'Acche Din' for the Education Sector, says EY
There is hope that the new Government would introduce various reforms that would have a positive impact on the education sector.
- Budget 2015: Infrastructure & real estate need booster dose, says EY
The real estate and infrastructure sector has been the backbone of the Indian economy and a major contributor in economic growth of the country.
- Budget 2015: Technology sector needs a shot in the arm, says EY
Technology sector is in the front seat of economic growth of India. To continue as a growth enabler the sector wants changes in tax laws and clarity in some taxation issues.
- Budget 2015: Time to bring transparency & certainty on deals street: EY Resurgence in business sentiments lead to spurt in M&A deals. However there are many obstacles that the deals have to face, which mars ease of doing deals in India.
- Budget 2015: Time to gear up tax regime for outbound investments: EY Foreign investors are entering into various transactions in India. Budget should put in place a robust tax system to address investors' fears.
- Budget 2015: These tax proposals can change M&A landscape in India: EY
A more robust and transparent tax and regulatory environment is key for transformation in investor sentiment and appetite.
- Budget 2015: Recommendations of the 14th Finance Commission will change basic architecture of Centre-state fiscal ties
How will recommendations of the 14th Finance Commission will change the basic architecture of Centre-state financial relations.
- Budget 2015: Upstream PSUs look for clarity on subsidy
What does Budget 2015 have in store for upstream PSUs?
- Budget 2015: Key Expectations from Union Budget 2015
Apart from certainty on retrospective amendments, GAAR and fast-track litigation, we explore some of the key tax/ policy changes eagerly awaited in Budget 2015.
- Budget 2015: 'Indirect' Expectations from Union Budget 2015
In the Union Budget 2015, the Finance Minister could make some positive announcements and demonstrate a strong commitment towards introduction of GST by April 2016.
- Budget 2015: Remove surcharges and cess, tax corporates moderately
Explore key budget expectations from a corporate tax perspective which could help to revive investment, increase growth and generate employment.
- Budget 2015: We don't need big bang policies
A series of small but meaningful measures that address the economy’s key structural issues will do fine.
- Budget 2015: Bring a settlement scheme to check tax disputes
What are some of the critical tax issues which need the Finance Minister’s urgent and serious consideration? Sudhir Kapadia summarizes.
- Budget 2015: Constitution bill sows seeds of fractious federalism
The 100% revenue compensation guarantee for extended period of time creates a moral hazard of demotivating the states from improving the tax system and administration.
- Budget 2015: Let industry also shape GST regime
With Make-in-India as one of the main policy thrust, this budget is expected to incentivize local manufacturing by addressing issues around inverted duty structure.
- Budget 2015: 'Make in India' and GST could be match winners
From an indirect tax perspective, two themes could decide the broad contours of this budget – Make in India and Goods and Service tax (GST).
- Budget 2015: Time to open doors for investments with tax reforms: EY
Union budget should come out with investor friendly measures by introducing taxation reforms.
- Budget 2015: Here is how NRI income is taxed in India
Explore how NRI income is taxed in India.
- Budget 2015: Indirect Tax: major reforms that need clarity in the budget
Industry expectation from Union Budget 2015 looks at resolving all anomalies prevalent in indirect tax law, it is unlikely that it would be fulfilled entirely.
- Budget 2015: Income Tax: What can you expect from Budget 2015
Prior to announcement of Union Budget, here is what EY expects on personal tax front.
- Tax: Towards an effective Indo-US social security agreement
What are some of the key factors for ensuring Indo-US SSA to be more effective?
- Tax: Need to revisit tax norms for CSR spends
Learn the tax intricacies involved in undertaking CSR which becomes mandatory for Indian companies from the current fiscal year.
- Tax: Don’t join rush, pay tax in advance
With the financial year coming to a close in three months, here are the key takeaways to consider for tax planning.
- Tax: X'mas, Good Governance & "Fringe Benefits"
X'mas eve is always a great time to take stock of the state of the nation . Sudhir Kapadia, National Tax Leader, EY India reveals.
- Tax: No further time to be lost on GST
The GST Constitution Amendment Bill makes significant concessions to States. An April 2016 rollout is doable.
- Advisory: The New Companies Act – Need for a ‘cost-neutral’ and business improvement focused agenda
In an ever intriguing debate on how much impact the New Companies Act has on the business leaders, the conservatives also agree on the need to have an increased level of diligence by the Boards/ CEOs to effectively discharge an array of direct responsibility that the act has imposed on them.
- Tax: Advance Tax: It’s time for second instalment
The holiday season is around the corner and so is the due date for payment of the second instalment of advance tax.
- Tax: Avoiding another Vodafone
The indirect transfer tax provisions introduced retrospectively by the Finance Act 2012 leave scope for controversy. Clarity must be provided upfront.
- Tax: Record cafe: States not prepared for GST, 27% rate can’t work
Satya Poddar, tax partner, Policy Advisory Services, EY, in an extensive conversation with Sunil Jain, explains how states are ill-prepared to implement GST and why a 27% rate is not workable at all.
- Tax: More compliance requirements for wealth tax payers
More compliance requirements for wealth tax payers
- Tax: Foreign Trade Policy should live up to exporters' expectation
What are the expectations from the yet-to-be-announced Foreign Trade Policy (FTP) for 2014-2019? Nilesh Vasa, EY explores what should be in store.
- Real Estate: Indian real estate sector – Channelizing capital to a brighter future
The Union Cabinet has recently taken a positive step towards expanding the scope of construction development sector under the Foreign Direct Investment Policy.
- Tax: India’s black money
India Real Time, The Wall Street Journal talked to Sudhir Kapadia, National Tax Leader in India at EY for some answers.
- Tax: An India-US agreement will also favourably impact the cost of employment for both sets of employers
A social security agreement with the US, it is believed, was on Prime Minister Narendra Modi’s agenda on his recent US trip. Learn more.
- Tax: Penal consequences force taxpayers to report deals that are not taxable
Recent HC ruling on the Vodafone case would aid greatly in restoring foreign investor confidence and attracting FDI in India supplementing 'Make in India' initiative.
- Tax: Taxation of land and liquor essential for ‘Swachh’ GST
The incremental revenues from taxation of land and liquor will help in keeping the GST rate low and make the overall tax system cleaner, among many other advantages.
- Tax: Vodafone HC Order: Boost For Make In India Campaign?
The Vodafone HC order is a huge relief for foreign investors burdened with unnecessary tax controversy, litigation costs and compliance burden for bringing in FDI.
- Indirect Tax: GST on petro products: reconsider zero-rating
If designed properly, zero-rates can remove the cascading of taxation in the sector and preserve the economic benefits of the GST.
- Corporate Tax: IT Act: SC Settles The Dust On Retrospective Interpretation
The latest decision of the Supreme Court appears to be in affirmity with the Government on the assurance of retrospective amendments under the Income-tax Act.
- International Tax: OECD BEPS Reports: An Indian Perspective
The OECD Action Plan aims to ensure that profits are taxed where economic activities generating the profits are performed and where value is created.
- Personal Tax: Revised Schemes For Social Security In India
The 100 day anniversary of the new government was witness to a significant modification in the social security regime in India.
- Tax: Changes in EPF Scheme could affect you
Did you know there have been changes in the EPF scheme post September 1, 2014? Find out more on these changes and its impact.
- Advisory: Enhancing your business performance
How does Business Performance Management help link strategic planning objectives with key operational outcomes? Learn more.
- Tax: Making I-T scrutiny less discretionary
The Central Board of Direct Taxes (CBDT) recently issued a set of instructions on the procedure and criteria of selection of cases for compulsory scrutiny.
- Personal Tax: New PF rule may lower take-home pay
The government has made radical changes to Provident Fund schemes effective September 1, 2014. Learn more.
- Tax: 1st 100 Days: Acche Din For Tax Policy?
Sudhir Kapadia, National Tax Leader – EY analyses the first 100 days of the new government and what it holds from the Tax perspective.
- Tax: 100 days of New Government
How has the Modi Govt. fared in the first 100 days? Our Chief Policy Advisor D.K. Srivastava assesses the ups and downs.
- Personal Tax: Complying with I-T provisions of clubbing income
Taxpayers seldom know that ‘income’ may be expanded to include others’ income as well, under certain circumstances.
- Personal Tax: Tax implications of buying second house with a loan
Buying a second house financed with a bank loan can be an attractive investment. However, before you proceed, here are a few tax implications.
- Tax: CBDT Circular Targeting SEZ Units in IT Sector
With the IT/ITES sector projecting a USD 200 Billion opportunity for India, an understanding of the sector nuances is integral to growth in a competitive market.
- Tax: Impact of Finance Act 2014 on sale of unlisted securities
Have you considered the tax impact that Finance Act 2014 may have on the gains that you would incur on sale of unlisted securities? Learn more.
- Tax: Need for a booster shot
While SEZs were touted as future engines of growth by establishing excellence export zones, the ground realities narrate a different story. Learn more.
- Advisory: On governance and risk issues
Organisational reputations and indeed futures will be made or more likely destroyed by their response to managing their GRC (governance, risk and compliance) processes.
- Tax: A setback for alternative investment funds
IFs are a vital source of risk capital and significantly contribute to nurturing investment activity across many sectors which, in turn, promotes employment and growth.
- Budget 2014: Taxman’s hostility must end
The TARC report is a good starting point for the government to initiate a change to foster a positive tax environment.
- Budget 2014: Times guide to corporate tax
Read more on Times guide to corporate tax
- Budget 2014: Times guide to indirect tax
Read more on Times guide to indirect tax
- Budget 2014: Times guide to Personal Tax
Read more on Union Budget 2014's Times guide to Personal Tax
- Budget 2014: Spot the devil that lurks in the fine print
Read more on Spot the devil that lurks in the fine print
- Budget 2014: Corporate Tax Regime
Learn more on the key corporate tax proposals of Budget 2014
- Budget 2014: Impact on Consumers
Budget 2014 could have positive impact on consumer goods. Read more
- Budget 2014: Impact on Manufacturing sector
Reforming manufacturing sector has been the focal point of NDA manifesto.
- Budget 2014: Bold reforms in infrastructure sector
FM in his maiden budget has announced various policy reforms and has provided for infusing of a larger chunk of funds by highlighting the importance of infrastructure development to the economy.
- Budget 2014: Indirect Tax: FM has delivered!
Key indirect tax proposals in Budget 2014, learn more.
- Budget 2014: MODIfied Budget 2014 gives reasons to cheer to Aam Aadmi!
Post the Budget speech by Hon’ble Finance Minister, the MODIfied government has created a win-win situation for an individual by meeting some of his expectations.
- Budget 2014: MSME sector needs access to finance, markets and skilled manpower
Micro Small & Medium scale Enterprises (MSMEs) are the backbone of the Indian economy as these enterprises contribute more than 40% of India's export and more than 45% of India's industrial output.
- Budget 2014: Infrastructure & Manufacturing
Read more on the impact of Budget 2014 on the infrastructure and manufacturing sector
- Budget 2014: Why Govt May Not Eliminate STT?
Securities Transaction Tax (‘STT’) was introduced in the Union Budget of 2004-05 by the then Finance Minister, Mr. P Chidambaram. Read more.
- Budget 2014: Cenvat Credit – Time For A Makeover?
Time and again, changes related to cenvat credit have found its place in the budget speech and the amendments introduced in the union budget.
- Budget 2014: Budget 2014: Expectations Of Acche Din On Personal Tax
What can be the possible impact of personal tax post Budget 2014? Read more.
- Budget 2014: Indirect Tax Reforms Agenda
In this article, we capture some of the key indirect taxes expectations.
- Budget 2014: Income Tax Cuts to Help Retail Sector
Learn more on the specific proposals and clarifications on Budget 2014 which may impact the retail and consumer products sector.
- Budget 2014: Economic Growth Agenda in Budget to Drive Auto Sector
Let's have a closer look at offerings for Auto sector in the budget.
- Budget 2014: Infrastructure Gets Much-Need Thrust from Budget
Budget 2014 clearly recognizes infrastructure as a new growth engine.
- Budget 2014: No Significant Boost Given to Oil & Gas Sector in Budget
Oil and gas industry expectations on effective policy reforms and tax measures in the budget providing stimulus to the industry have been somewhat met.
- Budget 2014: A Positive Beginning on Tax Reforms
While Budget 2014's corporate tax proposals address some pain points for taxpayers, it falls short of the sentiment-fuelled expectations for the Budget.
- Budget 2014: An Attempt at Rationalisation of Indirect Taxes
Does Budget 2014 attempt at the rationalisation of indirect taxes? This article reveals.
- Budget 2014: Tax Changes You Need to Know
In this article, we have outlined some of the key budget proposals relating to personal taxation.
- Budget 2014: Proposals in Budget 2014 are a mixed bag for the auto industry
As against the expectations, the proposals in the current budget seem like a mixed bag for the auto industry.
- Budget 2014: Suitable provisions required for the growth of the power sector
What are some of the suitable provisions required for the growth of the power sector? Learn more.
- Budget 2014: Some key things that Budget 2014 has for a common man
Budget 2014 was reasonably balanced with something for all key sectors and taxpayers, including the common man.
- Budget 2014: Pharma sector left ailing for remedial measures
While the policy measures are stepping stone towards making a better and healthier India, from pharma industry standpoint, its long standing demands have remain unaddressed.
- Budget 2014: Realty sector's wish list fulfilled
The NDA Government's debut Budget has a lot in store for the real estate sector.
- Budget 2014: Modi government has delivered a pragmatic Budget 2014
Having been in power for only close to 45 days, the Modi Government has delivered a Budget which certainly is pragmatic given the current condition of the Indian economy.
- Budget 2014: Key amendments in the Indian transfer pricing regulations
What are some of the key amendments in the Indian transfer pricing regulations? Read more.
- Budget 2014: Change in tax rate will impact mutual fund sector: EY
Change in tax rates are bound to impact the mutual find sector, opines Sameer Gupta, Tax Leader – Financial Services, EY.
- Budget 2014: Companies Act 2013: M&A norms need some tweaking
On the M&A front, the Companies Act aims to open up new, simple avenues for domestic and cross-border M&As and make Indian organisations more attractive to investors.
- Budget 2014: Home sweet home
A quiet but significant amendment affecting the housing sector has been carried out in the Finance Bill 2014. Find out more.
- Budget 2014: Reasons to cheer
The most direct way by which the Union Budget affects the common man is through changes in tax rates — both direct and indirect.
- Budget 2014: Strong focus on asset-creation
The economic backdrop to the Union budget 2014-15 indicated the importance of addressing the domestic structural constraints that have engendered an undulating and gradual economic recovery.
- Budget 2014: A vision for future fiscal management
Budget 2014 attempts to reduce tax disputes, particularly in the area of transfer pricing, and to provide greater certainty to both domestic and foreign companies.
- Budget 2014: EY The steps to the GST
The Budget does confirm the government's commitment to the GST. Learn more.
- Budget 2014: FM ticked all the right boxes
The commitment to meet the fiscal deficit to gross domestic product target of 4.1 per cent in FY15 reiterates the government's commitment towards controlled inflation.
- Budget 2014: Baby steps and the start of a long haul
At best, Budget 2014 can be described as a five-day Test match with some baby steps taken on Day 1.
- Budget 2014: Budget FY15: Small Reformist Steps, Large Shadow of the Interim Budget
The new government presented the full year FY 2015 budget taking small steps towards its economic vision.
- Budget 2014: Finance Minister Arun Jaitley tempered high aspirations for biz-friendly tax outcome
The Finance Minister managed to temper the unreasonably high hopes on Budget 2014 by stressing on fiscal prudence being the need of the hour.
- Budget 2014: How the finance Minister can make the common man happy
The government is all set to present its first budget and as we get closer to the date, expectations from the common man increase manifold. Learn more.
- Budget 2014: Tax Bottlenecks for Telecom in India
Summarized hereunder are some of the key challenges faced by telecom sector that require the attention of policy makers.
- Budget 2014: Budget Expectation
What are some of the key tax changes that India Inc. is eagerly anticipating in the budget? Find out.
- Budget 2014: Out-of-the-box ideas for FM Jaitley to manage coffers & fulfil hopes
Shalini Mathur opines on some out-of-the-box ideas for FM Jaitley as a countdown to Budget 2014.
- Budget 2014: Rail Budget 2014 focuses on completing priority projects
The Railway Minister, in his budget speech, has focused on completing of priority projects and implementing projects announced in the previous budget.
- Budget 2014: Modi Express on the right track
The first Railway Budget of the new government has been more of a balancing act. This article explores the salient features.
- Budget 2014: What the government can do to give auto industry the much needed push
The automobile industry in India has been experiencing a difficult phase with plummeting growth rates. Vinesh Kriplani explores.
- Budget 2014: Six changes needed for better roads, rail and air transport
There is an urgent need for investment in the infrastructure and transport sectors to bring back economy on high growth trajectory, reveals this article.
- Budget 2014: REITs regime will facilitate investment in real estate
The real estate sector contributes significantly to the GDP of the country, but continues to be largely unorganised. Maadhav Poddar provides his insight.
- Budget 2014: Key expectations of the infrastructure sector from policy and tax perspective
The next five years belong to growth and development of infrastructure, opines Samir Kanabar, Tax Partner - Infrastructure practice, EY.
- Budget 2014: Expectations from the pharmaceutical & healthcare Industry
With the new Government, the climate is ideal for the new administration to make stronger changes to provide greater impetus to the Indian economy.
- Budget 2014: Changes FIIs hope FM brings to end 'tax terrorism'
Take a look at the critical areas of tax that impact capital markets and a suggestion of what investors (particularly FIIs) are hoping to see.
- Budget 2014: 10 big changes that can transform the realm of corporate taxation
What are the 10 big changes that can transform the realm of corporate taxation? Aashish Kasad explores.
- Budget 2014: 10 big indirect tax changes that can transform industry
What are some of the 10 big indirect tax changes that can transform industry? Read more.
- Budget 2014: 10 big changes in Personal Taxation that can transform the industry
Budget 2014 will set out the beginning of a new phase for corporate India. Surabhi Marwah explores 10 changes in personal taxation that can transform the industry.
- Budget 2014: Budget expectations 2014: Oil & gas sector
Hopes are high from the newly elected government to address the key issues currently being faced by the industry and bolster the investor sentiment.
- Tax: Accelerating GST reforms: Need of the hour for auto sector
For the auto sector, the most keenly awaited budget announcement is a clear roadmap for nation-wide implementation of Goods and Services Tax (GST).
- Budget 2014: Investor Sentiment Hampered By Excessive Litigation In Tax
At present, the biggest road block for the investment community is the litigation process for tax matters in India, reveals Rajan Vora, Tax Partner, EY.
- Tax: A blueprint to encourage tax compliance
The Tax Administration Reform Commission (TARC) recommendations aim to address the ambiguities in India’s tax administration. Learn more.
- Budget 2014: Should Rationalise Tax for Oil and Gas Sector
The government can initiate fiscal measures to boost the investment in oil and gas sector and secure economic growth, reveals Sanjay Grover.
- Budget 2014: Raise Tax Exemption Limit To Rs 3 Lakh At Least
The common man is eagerly awaiting the budget, which promises not to be a populist budget. Find out what it may have in store.
- Budget 2014: GST: Seeking A Place In The Budget Platter
NDA being committed to implement the GST will have the first official opportunity to prove its intent in Budget of 2014-15. Read more.
- Budget 2014: What Corporate India Wants The FM To Do
What does corporate India expect from Budget 2014-15? Pranav Sayta, our Tax Partners sums up some of the possible common denominators.
- Budget 2014: Jaitley Should Address Retrospective Tax, Defer GAAR
The Indian economy today is in urgent need of measures to restore growth, reveals our Tax Partner KT Chandy as a prelude to Budget 2014.
- Budget 2014: Budget 2014 Should Outline Roadmap for GST
A comprehensive Goods and Service Tax (GST) would be a significant for streamlining indirect taxes in India, opines our Tax Partner Alex Kuruvilla.
- Budget 2014: TARC report: Taxman needs to change old mindset
What are some of the key findings of the recently released Tax Administration Reforms Commission (TARC) report? Sudhir Kapadia, our National Tax Leader recounts.
- Budget 2014: Income Tax Benefits Should Be Adjusted to Inflation
This article lists the possible expectations from the upcoming budget from a personal tax perspective.
- Budget 2014: Budget 2014 Should Ease Service Tax on Rent Payable by Small Retailers
What are the industry expectations the finance minister needs to consider for the retail sector through the current fiscal budget?
- Budget 2014: Arun Jaitley Should Offer More Tax Sops for Real Estate Sector
In the imminent Budget, real estate sector needs both fiscal/non-fiscal measures for a boost, opines Maadhav Poddar, Associate Director, Tax & Regulatory Services, EY.
- Direct tax: Look beyond the black money SIT
Offshore tax evasion is a serious problem for jurisdictions worldwide. How can we effectively curb the menace of tax evasion and black money in India?
- Budget 2014: Budget 2014-15: 10 Commandments On Tax Policy For FM
Sudhir Kapadia, National Tax Leader, EY enlists 10 commandments on Tax Policy which the FM may consider for his maiden budget in July 2014.
- Transfer Pricing: Getting related-party transactions right
The question of transparency in deals with related parties has often been a topic of debate and discussion. This article shares a perspective.
- Personal Tax: Working abroad? EPFO makes coverage certificate issuance simple, hassle-free
Learn more on the new system on the issuance of Certificates of Coverage (CoC).
- Indirect Tax: Inching closer to GST
The introduction of GST is a key fiscal reform eagerly awaited by India Inc. This article explores how it would help improve India’s image globally.
- Tax: Curbing tax litigation is vital
Many believe that the new government would prove to be a principle catalyst in enabling economic growth for the country. This article reveals.
- Direct Tax: The DTC dilemma
The third version of the Direct Taxes Code (DTC) was placed for public debate recently as part of the government’s tax reform for revision. Learn more.
- Personal Tax: Taxability of globally mobile employees
With the number of globally mobile employees on the rise, their taxability in India depends on their residential status during the financial year.
- Transfer Pricing: Will related-party transaction norms work?
Differing opinions and varying views on the computation of arm’s length price has made transfer pricing a contentious issue.
- Transfer Pricing: Administering APAs
Advance means of agreement on Transfer Pricing issues has become a critical element worldwide today
- Policy & Regulatory: Hyderabad tilt in AP split
Background work for the budgetary exercises for Telangana and residual Andhra Pradesh should start without delay to prevent future uncertainty.
- Personal Tax: International workers: EPFO seeks to ensure stricter PF compliance
The Employees’ Provident Fund Organisation (EPFO), in its latest move, aims to ensure stricter provident fund compliance when it comes to foreign workers in India.
- Personal Tax: How to make rental income less taxing
The nature of taxability on the rental income will depend on how the property is rent out. Read more.
- Advisory: The analytics challenge
Analytics is likely to change the competitive landscape in quite a few industries in the years to come.
- Advisory: Making Boards accountable
Several key modifications have been brought about in the Companies Act 2013 related to Board governance.
- Policy & Regulatory: A bleeding fisc
The new central government’s efforts towards a growth-stimulating fiscal strategy may be constrained by the fiscal imbalances that it will inherit.
- Personal Tax: How stock-based incentive plans work
Stock-based incentive plans are widely used by organisations worldwide for their perceived benefits in the long run to both employers and employees.
- Transfer Pricing: Corporate guarantee need not be intra-group service
Commissioning of corporate guarantees has been one of the most contentious issues in the battleground of transfer pricing litigation.
- Corporate Tax: Tax twists in CSR spends
With the enactment of the Companies Act, 2013, India will mandate spend on Corporate Social Responsibility (CSR) activities through a statutory provision.
- Personal Tax: Evaluating stock options
Mint’s special feature on the recently launched EY Stock Based Incentive Survey 2014.
- Personal Tax: Tax benefits on hold for private PF subscribers
The Finance Act, 2006 (FA) laid down that all PFs (existing before and after March 31, 2006) should obtain PF exemption for tax recognition.
- Personal Tax: New wealth tax rules bring relief for landowners
Some taxpayers are unaware of another form of direct tax, which is charged on their wealth.
- Tax: APA strategy - Getting the cocktail mix right!
Applicants to the Indian APA program would need to carefully consider the factors that need evaluation to design a winning APA strategy.
- Climate change and sustainability services: Invest in compassion
Internalising sustainability best practices are more than just a business imperative — it is a social necessity.
- Advisory: Enterprise IT trends in 2014
What would be some of the key enterprise IT trends in 2014? Our column reveals.
- Advisory: Don’t invest in Bitcoins yet
Virtual currencies such as Bitcoin are now creating a buzz, should you invest?
- Direct Tax: Vote On Account 2014: Changes that defined the direct tax system in India
The last decade in Indian direct tax system has seen significant changes and reforms, with some of these changes even garbing headlines at global level.
- Direct Tax: Vote on Account 2014: Changing facets of Indian technology sector
How a sector riddled with constant challenges continues to contribute nearly 8% to the total GDP of India is nothing short of a marvel!
- Direct Tax: Vote on Account 2014: India envisaging significant tax reforms for future
With Indian economy developing rapidly, its imperative for the new leadership to focus on bringing in simplification and rationalisation in tax system by eliminating complexities and multiplicity of taxes.
- Direct Tax: Vote on Account 2014: Indirect taxes saw a decade of reforms, convergence & hope
Most major indirect tax amendments in India over the last few years seem to have been made with the ultimate goal of transitioning to GST.
- Direct Tax: Vote on Account 2014: Oil & Gas Sector- road ahead
Indian oil and gas sector is projected to touch US $ 139,814.7 million by 2015 from US $ 117,562.9 million in 2012, thereby, providing vast opportunities for investors.
- Direct Tax: Vote on Account 2014: Indian real estate embracing change in the time of economic revival
The real estate industry world-wide entered 2010 with a renewed sense of optimism with economic recovery mitigating the adversities that the recession had generated.
- Indirect Tax: Vote on Account 2014: India needs simple and compliance friendly indirect tax regime
India is standing on the threshold of an opportunity to streamline its indirect tax regime in the country.
- Indirect Tax: Interim Budget Interim Relief for the Auto Industry
Substantial reduction in the Excise duty across segments in the Auto sector, announced in the Interim Budget, has come as a pleasant surprise for the industry.
- Personal Tax: Vote on Account 2014: 10 things that defined personal taxation in the last decade
Here is a look at 10 things that made a significant impact on personal taxation in India in the last 10 years.
- Auto: Vote on Account 2014: Fortunes of auto industry have nosedived in past few years
The economic slowdown coupled with low consumer sentiment, high inflation, rising fuel prices and interest rates has forced automakers to rework their India strategy.
- Corporate Tax: Give foreign investors legitimate tax benefits
How has globalization of business enable multinational enterprises (MNEs) to minimize their tax burden?
- Indirect Tax: Fiat case: CBEC offers a band-aid solution
The Supreme Court in the case of Fiat India dealt with facts wherein the cars were at a substantially lower cost to achieve market penetration.
- Personal Tax: For a less taxing experience, keep tabs on processes
How does your employer consider your investments and payments that are eligible for tax benefits?
- Personal Tax: New provisions to make dent into salary income
The Central Board of Direct Taxes (CBDT) updated its annual circular relating to withholding taxes from salary payments, introducing some new provisions.
- Transaction Tax: M&As want a smooth tax ride in the new year
In the backdrop of greater scrutiny by tax authorities, the focus is on ensuring ‘tax’ does not become a deal breaker.
- Policy & Regulatory: One tax to end all tax?
Introduction of a banking transaction tax (BTT) has rekindled debate amongst policymakers, industry and the public on the way forward in India’s stalled tax reforms.
- Corporate Tax: Building trust in infrastructure funding vehicles
The SEBI recently proposed to introduce a framework for Infrastructure Investment Trusts (InvITs) primarily to aid financing/ refinancing of infrastructure projects.
- Indirect Tax: Defusing the fiat tax feud
The Supreme Court judgment of FIAT in August 2012 is perceived to have changed the conventional understanding of the basis of levy of Excise Duty.
- Advisory: Battling the certainty of uncertainty
India’s economic indicators present a mixed bag, marked by perpetual uncertainty.
- Advisory: CFO can be a CIO’s greatest ally: In conversation with Jaspreet Singh, Associate Director, EY
Can the CFO liaise with the CIO for driving growth across an organization, meeting client expectations? Jaspreet Singh discusses the aspects of IT transformation today.
- Advisory: Grow leaders from within rather than hiring from outside: Rajiv Krishnan
In an interview with the Business Standard, Rajiv Krishnan highlights the need for nurturing leaders from within an organization.
- Advisory: Giving jaywalkers the safe alternative of skywalks
Technology, improved infrastructure and digitization can greatly aid in increasing the popularity of skywalks in Mumbai, witnessing almost 65 lakh pedestrians daily.
- Advisory: Corporate governance: Act brings directors on ‘board’
The Companies Act 2013 has set higher standards of corporate governance, recognizing the role of Board as a key component, entrusting it with significant responsibilities.
- Advisory: IT services: New code for success
What could be the recipe for continued success for the $100 billion information technology industry in India? This article refers to some major strategies.
- Indirect tax: High octane: Liquor, petrol to come under GST
The Government's inclusion of petroleum products and liquor under Goods and Services Tax (GST) is a welcome move towards the rationalization of the GST regime.
- Corporate tax: 'Look at' or 'look through'?
As laws in India undergo reforms, it is imperative that clarity, consistency and certainty emerge in the overall tax regime.
- Corporate tax: Capital gains vs. interest
Should the additional compensation be treated similar to the original consideration or should it be treated as interest and taxed accordingly?
- Corporate tax: Transfer pricing rules still fuzzy
Transfer pricing is an extremely contentious tax issue in India with a spiral of litigation puzzling taxpayers across industries.
- Corporate tax: Reduction in land area requirement to be game changer for SEZs
The government has announced significant reforms to revive interest in SEZ policy with a reduction in minimum area requirements.
- Corporate tax: Attracting FDI is key to India's future growth prospects
The 12th Five-Year plan clearly mentions that FDI should be a key policy imperative to help achieve the desired 8.2% growth.
- Personal tax: Don't ignore wealth tax liability
Revenue authorities have renewed their focus on wealth tax compliance and the requirement/coverage under wealth tax, stressing on the consequences of non-compliance.
- Personal tax: How Cos Bill will affect employee benefit schemes
The Companies Bill 2012, approved by the Rajya Sabha includes new provisions on Employee Stock Option Schemes (ESOS) and Sweat Equity shares (SE).
- Personal tax: Evading wealth tax is a criminal offence
Every individual and Hindu Undivided Family (HUF) having wealth exceeding Rs 30 lakh is required to file wealth tax returns with the revenue authorities.
- Transaction tax: Measuring the Ritchie Rich in public companies
The new Companies law has introduced revised guidelines for managerial remuneration, with no statutory ceiling for private companies as opposed to the public companies.
- Transaction tax: A new chapter in M&A accounting
Under the new Companies Act, the National Company Law Tribunal will not sanction any M&A scheme unless the company's auditor certifies compliance with accounting standards.
- Transaction tax: Companies' law and the auditor
The new Companies' law and its revised rules and regulations expect the auditor to be a superhuman with extrasensory powers.
- Transaction tax: Act expects auditors to be skillful at crystal ball gazing
The Companies Act has laid down specific guidelines for the appointment of auditors, bestowing more control in the hands of the audit committees.
- Corporate tax: New hurdles to foreign buys
The RBI recently reduced the net worth limit for overseas direct investment, aimed at arresting the rupee's decline by curbing foreign exchange outflow.
- Transaction tax: Count your steps before you invest
The new Companies Bill lays down restrictions on investing through more than two layers of investment companies, bringing transparency in shareholding and funding structures.
- Indirect tax: Will gold rush past the import duty hike?
The recent hike in customs duty on gold, platinum and silver appears to be an attempt to lower import demand and stimulate the domestic market.
- Transfer Pricing: Marginally safe harbor
The draft safe harbor rules with its high margins are unlikely to find any takers unless within an acceptable band to attract taxpayers.
- Transaction Tax: On an accountability drive
Companies Bill mandate for companies to ensure transparency in business dealings will significantly raise corporate governance standards, and force companies to do business the right way.
- Transaction Tax: Companies Bill: The new law should set the M&A market on fire
The Parliament recently passed a younger, thoughtful and austere Companies Bill with radical changes. How will it impact businesses and companies in the coming years?
- Transaction Tax: For a corporate world without borders
The Companies Bill ushers in a new dimension to corporate restructuring, in terms of opportunities, additional compliances, and increased responsibilities for stakeholders and regulators.
- Transaction Tax: New law is a step towards responsible India Inc.
The Companies Bill retains the old provisions of the Companies Act, but also adds stronger and progressive provisions.
- Personal Tax: Tax Return Simplified: Accuracy is the key
Providing accurate information is the most important factor while filing tax returns to ensure speedy and error-free processing.
- Personal Tax: E-filing of tax returns is not so complicated
Mandatory e-filing of income tax returns are uncomplicated, eco-friendly and can ensure faster processing and faster refunds!
- Personal Tax: Reporting your foreign income & assets
Individuals need to diligently file their tax returns to comply with the changed reporting requirements for income earned and assets held abroad.
- Corporate Tax: Better deal for R&D centers
Globalization has led many multinational enterprises (MNEs) to establish research and development centers in India, focusing on higher value-added services, innovation and transformation.
- Personal Tax: Remember to take your TRC for foreign assignments
The requirement for a Tax Residency Certificate (TRC) is essential for individuals who can claim relief under the Double Taxation Avoidance Agreement between the countries.
- Personal Tax: Does taxman know you've moved?
This article discusses the importance of updating personal details at banks and financial intermediaries to prevent hardships in financial planning and tax compliance.
- Indirect Tax: Time for states to exit from entry tax
The non-inclusion of ETILOO (entry tax in lieu of octroi) has posed several challenges to the Indian economy. This article explores.
- Tax: Dialing the right number
Can the removal of limit on foreign direct investment in the telecom sector provide regulatory stability and reassure foreign investors? This report reveals.
- Personal Tax: Sebi gears up to clamp down on shell employee benefit schemes
Amended Sebi Esop guidelines issued in May 2013 are applicable to all employee benefit schemes (including non-Esop benefit schemes) linked to securities of the company.
- Corporate Tax: Revised TP Circulars: Major Relief To India Inc.
Amendments to transfer pricing issues relating to Research and Development (R&D) centers would provide greater degree of operational latitude and flexibility to qualify inter-company arrangements.
- Corporate Tax: Revised circulars: A change in FinMin stance
Recent regulations on the determination of transfer pricing (TP) for development centers (DCs) are truly an unprecedented and welcome initiative from the finance ministry.
- Corporate Tax: Buying overseas oil and gas assets? Local taxes apply
Acquiring energy assets abroad is greatly governed by various tax and regulatory challenges.
- Corporate Tax: Taxman calls up conciliation
Conciliation of tax disputes may encourage foreign investors towards greater stability, trust and friendliness in India's tax regime.
- Indirect Tax: Key to supply chain management
The shifting balance of world trade from developed economies towards rapid growth markets have a significant influence on the supply chain, thus impacting indirect taxes.
- Corporate Tax: Getting PE funds
The debt-laden infrastructure sector is prioritizing on viable, long-term funding and private equity (PE) investments for strong growth.
- Personal Tax: International workers: EPFO gets tough on employers
The Employee's Provident Fund Organization (EPFO) has recently introduced stringent guidelines for International Workers (IWs) with related penal consequences upon non-compliance.
- Indirect Tax: GST won't be a game-changer, only a name changer
The recent description of the Goods and Services Tax (GST) design summarized by the Empowered Committee (EC) is unlikely to enthrall any.
- Personal Tax: Procedural change for issuance of Form 16 may not bear desired result
While the intention of moving toward the new procedure is to streamline the TDS procedures, this may increase the administrative burden for employers who need to combine both parts and authenticate them before issuing to the employees.
- Personal Tax: Tax refund - A long wait? Here is how to ensure a timely receipt
This article talks about some basic things about tax refunds, the process and how one can ensure timely receipt of tax refunds.
- Indirect Tax: GST – still a distant dream?
Finally, there seems to be some progress in GST implementation, with States at least trying to reach a consensus of key issues.
- Personal Tax: Filing tax return is important, but it is not the final step
Once tax return is filed, the tax office will verify your form and ensure if all transactions have been reported and taxes paid.
- Indirect Tax: Amnesty scheme not yet in force
With wills posing several administrative hassles, private family trusts are becoming more popular.
- Corporate and Personal Tax: Plan early for business succession
With wills posing several administrative hassles, private family trusts are becoming more popular.
- Indirect Tax: Tax Talk: Be aware of social security tax pacts if looking to work abroad
Unless there is a social security agreement between two countries, an employee of one country working in the other is required to contribute to the social security of the host country.
- Indirect Tax: No VAT on distribution of prizes
Is levying of super rich tax and inheritance tax justifiable? Would it increase revenue as intended? Our Tax leader Hiten Shah discusses.
- Indirect Tax: Goodbye to octroi, but no welcome for LBT
Although touted as a dealer-friendly levy, the introduction of Local Body Tax or LBT has already run into trouble with trade bodies.
- Personal Tax: Taking the tedium out of TDS
The new CBDT circular requires employers to use the TRACES portal for salary payments as well.
- Corporate Tax: Still not a smooth path for TR
While it has simplified the provisions by doing away with TRC in prescribed format, the Government has still left a leeway, which gives it the upper hand in maintaining the status quo.
- Personal Tax: Clubbing of income of spouse and minor child for tax purposes
The Indian tax law has special provisions related to clubbing of income earned by the spouse, minor child or daughter-in-law under specified conditions.
- FIDS: Can you hear the whistle blowing?
The newly passed Companies Bill is likely to bring about significant changes in corporate governance standards. More on this article by our FIDS Leader Arpinder Singh.
- Personal tax: Documents in hand for hassle-free filing
Though the income-tax return forms are annexure-less, the tax department may seek supporting documents at a later stage.
- Corporate tax: Comforting big business — too important to fail
It is crucial that the Large Taxpayers' Unit is perceived as a high-quality tax administration forum with professionals equipped to understand the complexities of large corporates.
- Indirect tax: Inspector raj with power to arrest
In cases where the taxpayer has collected service tax of Rs 50 lakh or more and not deposited it for over six months, there can be arrest without a warrant.
- Consumer products: Directly in the mix
Direct selling is vital to cementing relationships with customers, says Dinesh Mishra of EY.
- Infrastructure: The dragon way
China’s integrated development model holds lessons for India. More in this article by our PPP leader Abhaya Agarwal.
- Interview: India's talent pool is second to none: James S. Turley
In an interview, our Global Chairman and CEO James S. Turley says that to do things right globally, companies must experience India. Read excerpts of the interview.
- Budget overview: Where is this tax increase going to come from?
The FM seems to have equated higher tax on the super-rich individuals and companies on the same plane, says our Tax Leader Sudhir Kapadia.
- Personal tax: Reason to cheer for first-time home buyers
By introducing an additional deduction of Rs 1 lakh in the Budget proposal, the Finance Minister has given some reason to cheer to individuals who are planning to buy their first home, says Anand Dhelia of EY.
- Corporate tax: Promise kept on clarity
The finance ministry has soothed concerns over requirements for claiming tax treaty benefits and mandatory submission of tax residency certificate, say Samir Kanabar, Shashidhar Upinkudru.
- Corporate tax: Impetus on generating extra taxes to bridge deficit
Interestingly, the impetus of Budget 2013 seems to be on generating additional taxes to bridge the fiscal deficit.
- Corporate tax: High-tension budget for corporate India
The Finance Minister played the budget with a straight bat, balancing the need to protect the tax base with nudging the economy towards recovery, says Tax Partner Riad Joseph.
- Indirect tax: Indirect taxes: Not tailored for a perfect fit
While the positive measures are welcome, lack of clear direction on Goods and Services Tax has slowed the momentum of indirect tax reforms, says Tax Partner Vivek Pachisia.
- Indirect tax: Budget 2013: Stocktaking of indirect tax amendments
No significant proposal in achieving clarity in tax laws have been made from an indirect tax perspective, says our Tax Partner Bipin Sapra.
- Direct tax: Budget 2013: What NRIs should know about the FM's proposals
Not much has been offered to the Non Resident Indians (NRIs) by the Finance Minister in the Budget 2013-14, says Puneet Gupta of EY.
- Automotive: Budget 2013: Has it marked the come-back story for auto sector?
Auto sector had high hopes on the Budget 2013 for making a come-back. Has FM delivered what the industry expected? Chetan Kakariya of EY explores.
- Pharma: Budget 2013: Impact on pharma industry
Budget 2013 seems to be another missed year of tax impetus for the pharma industry, says Rahul Patni of EY.
- Agriculture: Budget 13: Continuance of interest subvention scheme, other measures to boost agriculture
The Finance Minister has tried to maintain sound fiscal management on one hand, while creating growth drivers for the agricultural sector at the same time, says Himanshu Doshi of EY.
- Banking: Budget 2013: FM perfects the tightrope walk, balances banking sector expectations
While some of the proposals would have a positive effect on the banking sector, overall the budget appears to have evoked mixed reactions from the banking industry, say Tejas Desai and Jaiman Patel of EY.
- Automotive: Budget 2013: Duty hikes to impact luxury car segment
Overall, in the auto sector, the major impact would be on the industry players specifically catering to the luxury car segment, says Amit Bhagat of EY.
- Indirect tax: Budget 2013: No major reforms in indirect tax structure; custom, excise duties held steady
In this Budget, the basic rates of customs, excise and service tax have not been tinkered with nor has there been any significant addition to the tax base, says Jayanta Kalita of EY.
- Budget overview: Positive intent, but it's time to deliver
The Budget announcements hinge on a strong optimism for economic growth recovery. How realistic will these assumptions be is the issue to watch out for, says our Country Managing Partner Rajiv Memani.
- Direct tax: Budget 2013 seeks to attract investment while maintaining moderate tax rates
This year, changes are more aligned to improving tax compliances and moving forward on the path of negative list based taxation by reducing exemptions, says Divyesh Lapsiwala of EY.
- Indirect tax: Budget 2013: Moving very slowly on service tax
This year, changes are more aligned to improving tax compliances and moving forward on the path of negative list based taxation by reducing exemptions, says Divyesh Lapsiwala of EY.
- Personal tax: Budget 2013: Double whammy for the rich
In order to raise resources for the development of the country, the finance minister has gone after those who are relatively well placed in the society. More in this article by Mayur Shah of EY.
- Indirect tax: Budget 2013: An exercise thats steeped in realism
The need to keep the industrial sector on a higher trajectory and to invest in infrastructure to push up economic rejuvenation appears to have been addressed albeit partially, say Heetesh Veera and Sarika Goel of EY.
- Corporate tax: Budget 2013: Some retrograde steps worry
The Budget has taken some retrograde steps which strengthen the belief of foreign investors about the instability and non-predictability of the Indian tax policy/regime.
- Indirect tax: Not so cool an idea, FM!
Service tax has been extended to all air-conditioned restaurants irrespective of whether they serve liquor or not. More in this article by our Tax leader Bipin Sapra.
- Technology: Budget 2013: Little cheer for tech enthusiasts
Those of us who were waiting to buy that latest phone or tablet have got no smiles from the budget, says our Tax leader Vivek Pachisia.
- Corporate tax: Budget 2013: Impact of corporate tax proposals
At the outset, setting up a tax administration reforms commission would be a good start to reform our tax system, says Hitesh Sawhney of EY in this article.
- Financial services: Budget 2013: Financial sector expected more from it
The financial sector would have expected more from the budget given the key role it is expected to play as India aims for high growth in the coming years, says our Tax leader Subramaniam Krishnan.
- Oil & Gas: Mixed impact of Budget 2013 on oil & gas sector
The Finance Minister has proposed a review of oil and gas exploration policy for movement to revenue-sharing contracts. However, there were disputes between the Government and the exploration license holders regarding the cost recovery. More in this article by our Tax leader Sanjay Grover.
- Retail: Budget 2013's impact on the retail sector
While Budget 2013 does not propose any big bang reforms like granting of industry status to Retail sector, retail sector is likely to get impacted by the proposed changes. More in this article by our Tax leader Paresh Parekh.
- Budget Overview: Budget 2013: Staying the predictable course
Fiscal consolidation clearly has been the underlying theme this year, says our leader Rajiv Memani.
- Real Estate: Budget 2013 can improve Real Estate sentiment
The Government should liberalize the FDI guidelines for inflow of foreign capital to real estate sector to tide over the current economic crisis, says our Tax leader Gaurav Karnik.
- Corporate tax: FM must take front seat to drive auto sector's growth agenda
Stabilizing the tax and investment regime would help in consolidation of India's position as a favorable destination for auto sector investment, say Vinesh Kriplani and Chetan Kakariya of EY.
- Personal tax: Should FM introduce taxes to curb runaway fiscal deficit?
To control the fiscal deficit and enhance economic growth, the options being considered are the super-rich tax and levy of inheritance tax. Mayur Shah of EY considers in this article.
- Budget overview: A Budget to Rekindle Confidence
The Finance Minister's highest priority will be to establish credibility by keeping the fiscal deficit within target and revive investments by both domestic and foreign investors. More in this article by Shalini Mathur of EY.
- Corporate tax: Exemption from MAT will be shot in the arm for infra firms
The major step required from the government is to exempt infrastructure companies from the purview of the provisions of minimum alternate tax (MAT), says our Tax leader Samir Kanabar.
- Indirect tax: GST, still a mirage?
There is a genuine expectation that the Finance Minister will unfold a clear roadmap for the revamped version of Goods and Services Tax (GST), says Shankar Bala of EY.
- Corporate tax: Go easy on transfer pricing norms
Moves such as taxing indirect transfers erodes investor sentiment considering India as an investment destination. More in this article by our Tax leader Chetan Rajput.
- Indirect tax: Budget expectations Negative list needs a close hard look
It's crucial that the Budget addresses, among other aspects, the concerns from an indirect tax perspective currently faced by the industry, says our Tax leader Heetesh Veera.
- Personal tax: People expect tax exemption limit be raised to Rs 3,00,000
The first and foremost expectation of each taxpayer is on increasing the tax exemption limit to Rs 3,00,000, says our Tax leader Amarpal S Chadha.
- Automotive: Will Budget 2013 mark the come-back of auto sector
The Government could enable the comeback path for auto industry, suggests Chetan Kakariya of EY, in this article.
- Telecom: Budget 2013 Clarity and streamlining of tax rules will ring in growth for telecom sector
The Indian telecom sector is hopeful that some incentives will be offered to boost the sentiment of telecom players, says Rohit Verma of EY.
- Real Estate: Budget 2013: Expectations for real estate sector
Steps should be taken to institutionalize India's real estate sector through widening the funding options, says Maadhav Poddar of EY, as he lists the key expectations of the sector from Budget 2013.
- Pharma: Budget 2013: Augment healthcare infrastructure, smoothen procedural issues for pharma sector
There is an immediate need for clarifications on the CBDT circular on inadmissibility of expenses incurred in connection with medical practitioners by pharmaceutical and allied health sector companies, says our Tax leader Rahul Patni.
- Retail: Budget 2013: 5 quick steps to spur growth in retail sector
In this article, Arjun Khandelwal suggests some key initiatives which the Finance Minister may look into to spur growth this Budget.
- Media & Entertainment: Budget 2013: India's entertainment industry awaits its tax breaks
India's industry of dreams expects some sweeteners from Budget 2013 to provide the necessary impetus to maintain the growth momentum, says Neeraj Khubchandani of EY.
- Infrastructure: Budget 2013: Better tax provisions and access to funding can boost infrastructure sector
In the Budget 2013, it would crucial to have a more objective focus on the infrastructure sector for long-term growth of the economy, says our Tax leader Raju Kumar.
- Education: Budget 2013: Increase affordability and quality of education
In this article, Roshan Samuel of EY suggests key expectations from Budget 2013 such as an increase in allocation for primary education and the adoption of PPP for the development of higher education infrastructure, among others.
- Financial services: Budget 2013: What the financial services sector expects
Fiscal clarifications to the financial services sector shall go a long way in strengthening this sector and the Indian economy. More in this article by Jaiman Patel of EY.
- Aviation: Budget 2013: Simplify service tax, VAT to make aviation sector investor-friendly
There is an urgent need to rationalize VAT on the aviation turbine fuel (ATF) which ranges from 4 per cent to 30 per cent across India, says Pawan Khatter of EY.
- Automotive: Budget 2013: Pragmatic approach needed to drive auto industry growth
In the period between April 2012 and January 2013, the overall growth in domestic auto sales was 4.66 per cent compared to 12.24 per cent in financial year 2011-12.
- Personal tax: Budget 2013: Personal tax measures that FM should look at
It's about time that the taxman took a relook at the tax slabs for exemptions and deductions prescribed in the income tax statute, keeping in view the current economic climate, says our Tax Leader Surabhi Marwah.
- Private equity: Budget 2013: Expectations of the private equity sector
It has been a long standing demand of the PE sector for granting pass-through tax treatment to collective investment vehicles. More in this article by our Tax Leader Subramaniam Krishnan.
- Telecom: Budget 2013: Telecom sector seeks reforms and tax reliefs
The Indian telecommunication industry, after witnessing an exponential growth over a decade, is experiencing change in tide.
- Retail: Budget 2013: Expectations from the retail sector
In this article, our Tax Leader Paresh Parekh lists some expectations from Budget 2013 by the retail industry that may provide a boost to the sector.
- Indirect tax: Budget Wishlist
This article by our Tax leader Utkarsh Sandhvi suggests some of the changes that should be considered in the budget for the M&E industry.
- Indirect tax: GST implementation can stabilize field of indirect taxation
Implementation of a well-designed GST could stabilize the field of indirect taxation and mitigate the complexities under the existing indirect tax regime, says our Tax leader Vivek Pachisia.
- Budget panel discussion: Keep your expectations low
In a spirited panel discussion moderated by Business Today editor Chaitanya Kalbag, Yashwant Sinha, MP and former finance minister, M. Damodaran, former SEBI chairman, Satya Poddar, Partner, EY, Samiran Chakraborty, Regional Head of Research, Standard Chartered Bank and Nilesh Shah, President, Corporate Finance, Axis Bank, shared their views.
- Performance Improvement: Competencies can mark out performers
Competencies provide the basis for investing in employees when set in an organizational context.
- Infrastructure: Which road to take?
India should continue to evolve its road financing agreements rather than continuing on the current model so that the road users get better service.
- Corporate Tax: Budget 2013 - Telecom yearns rational tax environment
By tweaking a few things, the finance minister can make life easier for the taxpayer. More in this article by Tax leader Pramod Achuthan.
- Personal Tax: Get set for the Budget
By tweaking a few things, the finance minister can make life easier for the taxpayer. More in this article by Tax leader Pramod Achuthan.
- Personal Tax: Will levying new taxes work
Is levying of super rich tax and inheritance tax justifiable? Would it increase revenue as intended? Our Tax leader Hiten Shah discusses.
- Corporate Tax: Sometimes, a boring budget is really the best
The Finance Minister has correctly recognized that stability and clarity is the need of the hour. Let us hope that budget 2013 takes this theme forward in right earnest, says KT Chandy, our Tax Partner.
- Corporate Tax: GAAR deferral: Finance minister yet again sends out a positive signal
The finance minister's statement has brought certainty for the industry which awaits confirmation from the government about its final view. More in this article by our Tax Leader Satya Poddar.
- Corporate Tax: Companies Bill: Role of economy in global arena will increase
Four years after the Companies Bill was first launched for discussions and deliberations, it appears that the new law may be finding its way through.