Direct Tax
Transfer Pricing Update: 20 more APAs signed, total count at 98
Advance Pricing Agreement (APA), was introduced by FA 2012 in order to provide more certainty to taxpayers in one of the more litigative domain of the Income Tax, Transfer Pricing. In continuance of its efforts, CBDT has come up with 20 more APAs with different MNEs on 29th and 30th August from different sectors.
Are you assessed under Transfer Pricing? Do you want to be covered in more certain tax environment for the transactions you do with you Associated Enterprise? Do you want to reduce the litigations you currently have and the ones which may arise for the upcoming 5 years? We can help you enter the APA with the Income Tax Department....Read More
The best road to progress is freedom’s road.
Fifth set of Frequently Asked Questions (FAQs) under the Income Declaration Scheme 2016
Rules under Income Declaration Scheme, 2016 providing an option to the declarant the fair market value of immoveable property acquired through Registered Deed amended; Fifth set of Frequently Asked Questions (FAQs) providing clarification on various issues under the Income Declaration Scheme 2016 also issued...Read More
Things turn out best for the people who make the best of the way things turn out.
Indirect Tax
Model GST Law – Input Tax Credit (Part 6)
Continuing with our last update on the valuation of supply of goods and services under GST, we present our next commentary on the Input Tax Credit under the GST law....Read More
Knowing your own darkness is the best method for dealing with the darkness of other people.
Ind AS/IFRS
No major change in rating after Ind AS
Implementation of Ind AS on India Inc has been a game changer for the industry. Simultaneous queries raised across the stakeholder as what would be the consequences on credit rating of the corporate after the accounts are being presented according to new set of standards?
Here is a brief about the impact....Read More
The best intelligence test is what we do with our leisure.
Corporate Laws
MCA Clarification On Applicability Of Provisions Of Companies Act, 2013 On Rupee Bonds
Confusion prevailed among Indian Corporate after notification by RBI about "Issuance of Rupee Dominated Bonds Overseas" on private placements compliance under Companies Act. MCA clarified it....Read More
The best way of removing negativity is to laugh and be joyous.
Economy
Guidelines on Enhancing Credit Supply for Large Borrowers through Market Mechanism
The Reserve Bank of India had issued a Discussion Paper on the captioned subject on May 12, 2016 for comments of the stakeholders. The Discussion Paper proposed a framework for addressing the concentration risk of the banking system arising from its exposures towards a single counterparty.
After examining the comments received from stakeholders and taking into account the views of the stakeholders and prudential aspects of a sound regulation, the final guidelines have been prepared. The guidelines will be effective from April 1, 2017...Read More
Expect the best. Prepare for the worst. Capitalize on what comes.
Capacity Building in Banks and AIFIs
The Government of India has given us all the answer to the long awaited question. Urjit Patel the current Deputy Governor of RBI will take the reigns from Dr. Raghu Ram Rajan. He will face stiff challenge ahead to carry on the good work done by Dr. Rajan. ...Read More
Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing.
Government to issue Fifth Tranche of Sovereign Gold Bonds
The Government of India, in consultation with the Reserve Bank of India (RBI), has decided to issue 5th Tranche of Sovereign Gold Bonds. Applications for the bonds will be accepted from September 01, 2016 to September 09, 2016. The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions....Read More
Life is like riding a bicycle. To keep your balance, you must keep moving.
Exactly
In 1984 of the Tokyo International Marathon, one Japanese athlete Yamada unexpectedly won the world championship. When reporters asked what make him such a startling success, he said that: "Use wisdom to defeat opponent." Many people didn't believe him.
Two years later, in the Italian International Marathon, Yamada won the championship again. A reporter asked him: "You have won the championship again. Can you talk about your experience?" Yamada answered the reporter the same as last time:" I use wisdom to defeat opponent." Everyone was puzzled by his so-called wisdom.
Ten years later, the mystery is finally discovered. Yamada write his autobiography and he says: "Before each game, I will travel the whole route and check it carefully. I will mark some important signs alone the road, such as the first mark is a bank, the second mark is a tree, and the third mark is a red house, thus mark to the end. When the race begins, I run as fast as I can towards the first goal, the bank. When I arrive at the bank, I will strive for the second goal, the tree. I break the whole marathon route into many small goals and finish them one by one easily. At first I don't know this method and set my goal at the end of the 40 kilometers marathon. Usually I get exhausted in the first 10 kilometers because I am frighten by the remote distance."
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