By Manish Shah Partner Sudit K Parekh & Co.

The taxation of payments in the digital economy segment has been a subject matter of considerable litigation for quite some time now in India and even globally. In digital economy, delivery of services can be easily done from overseas without necessitating any part of the activity being performed or any employees being hired in the country where customers are located, thereby...

By Amitava Sen Partner Price Waterhouse & Co. LLP

Removal of TP compliance for SDT related to section 40A(2)

The provisions related to Domestic Transfer Pricing was introduced from AY 13-14, wherein transactions covered in section 40A(2)(b) was covered under...

By Amit Singhania Partner Shardul Amarchand Mangaldas

As the Hon’ble Finance Minister presented the tax proposals under the Union Budget, 2017, the key thrust of income tax policy appeared to be facilitation of a cash less economy, provision of relief to the middle class and ease of doing business in India, and incentivizing the real estate sector and start-ups. However, as is always the case the devil lies in the details. The...

By Nitya Tax Associates

Union Budget, 2017, as expected, saw limited changes being made in indirect taxes. With GST transition in mind, the Finance Minister played safe by maintaining a status-quo. To ensure economic growth (specifically post demonetization), the Finance Minister focused on the government’s key programs such as ‘Make in India’ and ‘Digital...

By Zerick Dastur Partner J. Sagar Associates


The Sick Industrial Companies (Special Provisions) Act, 1985 (“SICA”) was formulated with the objective of detecting sick and potentially sick industrial companies, and formulating preventive, ameliorative, remedial...

By Pratik Shah & Jigar Doshi Partner SKP Business Consulting

The countdown to the implementation of a Goods and Services Tax (GST) on April 1, 2017 continues. The government on November 26, made available a revised copy of the Model GST law. It may be recalled that earlier this year on June 14, the government had shared the draft Model GST law for public feedback and comments.

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By Rakesh Nangia - Managing Partner, Nangia & Co.


Section 115QA of the Income-tax Act, 1961 (“Act”), provides for payment of an additional Income-tax at the rate of 20% by the company on the distributed income arising out of buy back of...

By Varun Kathuria Client Services Specialist Xerox Litigation Services


The Maternity Benefit (Amendment) Bill, 2016 was introduced in Rajya Sabha on August 11, 2016 and is on sail through the Lok Sabha in the winter session of Parliament. The Bill amends the...

By Zerick Dastur Partner J. Sagar Associates

Delhi High Court (“HC”) judgment marks the end of ‘in-house’ arbitrators, pursuant to the 2015 amendment of Section 12 of the Arbitration and Conciliation Act, 1996 (the “Act”)

Assignia-VIL JV...

By Amit Singhania Partner Shardul Amarchand Mangalas


The digital economy is growing rapidly as technological advances open the market to more businesses and consumers. By 2016, Boston Consulting Group estimated the online market to increase to 3 billion internet users; expanding...

By Harsh Kumar Partner Cyril Amarchand Mangaldas

The Reserve Bank of India (“RBI”) has liberalized the framework governing payment of deferred consideration in transactions involving foreign investments into India. Notification no. 368/2016 dated May 20, 2016 (“May 20th Notification”) has permitted this liberalization with effect from May 20,...

By Vishal Divadkar Partner MZSK & Associates (BDO International network firm)

Applicability of CSR

The new Companies Act, 2013 introduced Section 135 which mandates CSR activity for the companies meeting the thresholds below and is applicable from April 1, 2014:

By Kaustuv Sen Partner BMR & Associates

One of the key thrust areas of the Central Government has been to reduce the tax litigation.  In line with this objective, the Hon’ble Finance Minister (‘FM’) in the 2016 Budget Speech stated that litigation is a scourge for a tax friendly regime and creates an environment of distrust, in addition to increasing the compliance costs for tax...

By Amit Singhania Partner Shardul Amarchand Mangalas


Globally, tax authorities have been grappling with the challenges that the digital economy poses to traditional tax rules, which were developed during the brick...

By Rakesh Nangia Managing Partner Nangia & Co.

In a recent ruling, the Delhi High Court has quashed Instruction No. 1 of 2015 issued by the Central Board of Direct Taxes (CBDT) holding it to be unsustainable in law.

Instruction No. 1 of 2015 dated 13 January 2015 was...

By Amit Singhania Partner Shardul Amarchand Mangalas


India and Mauritius have been engaged in protracted negotiations over the terms of the India-Mauritius tax treaty over the past few years. The negotiation effort...

By Partho Dasgupta Partner BDO India LLP

Merk case is yet again an important judgement on the non -core intercompany services such as Management charges, technical know-how etc.

It is no doubt in the Transfer price domain this is very contentious issue and the...

By Manish Shah Partner Sudit K Parekh & Co.

Indian Companies have faced various issues while claiming Foreign Tax Credit (FTC) and there has been substantial amount of litigation on the issue of claim of FTC in India. The issues under litigation includes issue on allowability of FTC on tax payable under MAT

By Amitava Sen Partner Price Waterhouse & Co. LLP

The Finance Bill 2016 (Bill) contains few important changes which are emanating from India’s active participation in the OECD-G20 BEPS [1] initiative. Before we go into the changes related to TP documentation, it may be worthwhile to take a look back at the overall BEPS project and what is expected from the same in the...

By SKP Business Consulting

Direct tax:

From a tax perspective the entire thrust seems to reduce litigation and dispute resolution.  The voluntary disclosure or amnesty scheme by paying 45% in taxes and penalties would help tax...

By Pratik Shah & Jigar Doshi Partner SKP Business Consulting

We can always recollect the Budget 2015-16 from last year where the Goods and Services Tax (GST) formed one of the major pillars for ‘Ease of Doing Business’ in India. And in stark contrast with last years Finance Ministers speech, this year we only heard a meagre reference of GST in FM Mr. Arun Jaitley’s budget speech, which read.


The Finance Minister has announced the Union Budget 2016-17 and various proposals.

Reputed Law firm ELP`s  analysis of the proposed amendments.  

ELP Budget...

By Harsh Kumar Partner Cyril Amarchand Mangaldas

The Companies Law Committee (“CLC”) constituted by the Ministry of Corporate Affairs (“MCA”) has placed its report dated February 1, 2016 (“Report”) on the MCA website for public comments. This Report provides CLC’s recommendations on amending over 100 provisions of the...


Please downlaod the entire report from CLICK HERE 

By Huzeifa Unwala Founding Partner Verita Management Advisors

India’s Internal Control experiment

Corporate world has witnessed dramatic regulatory interventions, and the trend continues with the enactment of the Companies Act, 2013 which casts...

By Darshan Upadhyay Partner ELP

With a view to ease related party transactions, the Central Government has prescribed the mechanism for omnibus approval for related party transactions vide the Companies (Meeting of Board and its Powers) Second Amendment Rules, 2015 dated 14 December 2015 (Omnibus Approval Amendment).

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By Satyendra Srivastava - Director (Audit & Risk) - S.S.Kothari Mehta & Co.


As per SA 200, Basic Principles Governing an Audit, issued by the Institute of Chartered Accountants of India (ICAI), an audit is the independent examination of financial information of any entity,...

By Rishabh Shroff - Partner Cyril Amarchand Mangaldas


The Department of Industrial Policy and Industry (“DIPP”) notified amendments in the...


Pursuant to the Indian Government’s ‘Make in India’ campaign; with a view to improving the ease of doing business in India and attracting foreign direct investment (‘FDI’) in the country, the Department of Industrial Policy and Promotion of the Ministry of Commerce & Industry (‘DIPP’)...

By Pratik Shah - Partner SKP Group

Yesterday (3 December 2015), the Model GST Law submitted by one of the sub-Committees of the government to all the state Finance Ministers was made available on certain web portals[1]. With the draft law of the much-awaited tax reform now available (until now only the 122nd Constitutional Amendment Bill was available in the public domain), it is imperative that...