Page-20 of Taxation
CBDT ink two bilateral APAs with United Kingdom
The Central Board of Direct Taxes (CBDT) has signed two bilateral Advance Pricing Agreements (APAs) with United Kingdom (UK). These APAs were signed with two Indian group entities of a UK based Multi-National Company (MNC) as per the terms of ..
Month: Current Affairs - February, 2016
India and Armenia sign Protocol amending the Double Taxation Avoidance Convention
India and Armenia has signed a Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) to curb instances of tax evasion. The Protocol amends the Article on Exchange of Information for tax in the bilateral DTAC signed between India ..
Month: Current Affairs - January, 2016
31 OECD members signed corporate tax avoidance deal
31 Organisation for Economic Co-operation and Development (OECD) members have signed corporate tax avoidance agreement in a bid to stem fiscal (tax) evasion by multinational companies (MNCs). The new agreement is about sharing information between members rather than a new ..
Month: Current Affairs - January, 2016
Atulesh Jindal appointed as new chairman of CBDT
Senior Indian Revenue Service (IRS) Officer Atulesh Jindal has been appointed chairman of Central Board of Direct Taxes (CBDT). His appointment was cleared by Appointments Committee of Cabinet (ACC) chaired by Prime Minister Narendra Modi. Atulesh Jindal will succeed Arun ..
Month: Current Affairs - January, 2016
Recommendations of RV Easwar Committee on simplification of the provisions of IT Act, 1961
Expert Committee to simplify income tax laws headed by Justice (retired) R.V. Easwar has submitted its report to Union Finance Ministry. The 10 member committee has recommended simplifying provisions related to tax deduction at source (TDS), tax refunds and claims ..
Month: Current Affairs - January, 2016
Union Government abolishes export duty on iron ore pellets
The Union Government has abolished export duty on iron ore pellets in order to make the commodity more competitive amid weakening prices due to subdued demand. In this regard Central Board of Excise and Custom (CBEC) has issued a notification ..