Month: March 2016

An Expert Analysis Of International Tax Provisions In Finance Bill 2016 Relating To Equalisation Levy, BEPS And POEM

CA. P Shivanand Nayak, CA. Prem Raj Rathod and CA. Mohit A Parmar have conducted an expert analysis of the provisions in the Finance Bill 2016 relating to the imposition of Equalisation Levy, Place of Effective Management (POEM) and Base Erosion and Profit Shifting (BEPS) and explained all of its implications in a simple and easy-to-understand format

The Law On Presumptive Taxation On Professionals As Proposed By Finance Bill 2016

CA H. N. Motiwalla has analyzed the provisions of section 44ADA proposed to be inserted by the Finance Act 2016 so as to subject professionals to presumptive taxation and explained its advantages and disadvantages Ease of doing business The provisions

Rationalisation Of Penalty Provisions Under The Income-tax Act 1961 As Per The Finance Bill, 2016

The Finance Bill 2016 proposes to make radical changes to the law relating to levy of penalty for concealment of income and furnishing of inaccurate particulars. Sections 270A and 270AA, which are intended to substitute section 271(1)(c), propose a levy

Income Declaration Scheme 2016 – Constitutional Issues

S. R. Wadhwa, Advocate, has explained important nuances of the Income Declaration Scheme 2016 proposed to be introduced by the Finance Bill 2016. He explains that though the Scheme is declared to not be an “amnesty“, it falls squarely within the definition of an “amnesty” which means granting an official pardon to people who are guilty of an offense. He warns that the preferential treatment to tax evaders will shake the confidence of honest taxpayers in the credibility of the Government to deal with law breakers and invite contempt for its enforcement machinery, namely, the Income-tax Department

Impact Of Proposed Amendment In Section 10(12) By Finance Bill 2016 On Taxability Of Receipt Of Accumulated Balance Of Recognized Employee Provident Fund (REPF)

CA Gautam Baid has meticulously examined the proposed amendment to section 10(12) of the Income-tax Act, 1961 by the Finance Bill 2016 to tax the accumulated balance received by an employee from an Employee Provident Fund and explained its implications


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