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India joins G20-OECD tax framework deal

India joins G20-OECD tax framework deal
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Last Updated: Jul 03, 2021, 07:01 AM IST
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Synopsis
However, India will have to roll back the equalisation levy that it imposes on companies such as Google, Amazon and Facebook when the global tax regime is implemented.
India joined the G20-OECD inclusive framework deal that seeks to reform international tax rules and ensure that multinational enterprises pay their fair share wherever they operate, the finance ministry said on Friday.
However, India will have to roll back the equalisation levy that it imposes on companies such as Google, Amazon and Facebook when the global tax regime is implemented. ....

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Showing PAN-Aadhaar for Covid treatment not practical: Experts

The income tax (I-T) department s condition of furnishing permanent account number (PAN) or Aadhaar number of both the patient and payee for making cash payments for Covid treatment has drawn flak from experts.
According to them, it would have been more effective if the exemption (in cash payment) had been given without any caveats and for a longer period.
On Friday, the Central Board of Direct Taxes (CBDT) had said that hospitals, nursing homes, Covid care centres, or similar medical facilities providing treatment for coronavirus can accept cash payment of Rs 2 lakh or more till May 31. This can be done only after receiving valid identity proof such as PAN card or Aadhaar of the patient and by informing about the relationship between the patient and the payee. ....

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Double taxation sword hangs over NRIs' heads, SC relief to be sought again

Double taxation sword hangs over NRIs heads, SC relief to be sought again
Double taxation sword hangs over NRIs heads, SC relief to be sought again
Sugata Ghosh | ET Bureau | Updated: Mar 6, 2021, 15:33 IST
Highlights
NRIs stuck in India were hoping for a relief from govt
CBDT simply assured there would be no “double taxation”
This has no consequence for NRIs from Gulf where there is no income tax
Baid, who works in Dubai, would either move a fresh petition or file an application challenging the recent com.Read More
(This story originally appeared in
on Mar 5, 2021)
Gaurav Baid, the 27-year old NRI chartered accountant, whose writ petition before the Supreme Court triggered a reaction from India’s direct tax authority, will once again knock at the court’s door. Baid, who works in Dubai, would either move a fresh petition or file an application challenging the recent communiqué from the Central Board of Direct Taxes (CBDT) which ....

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Budget Insights: Top experts break down real impact of FM's big moves

Budget Insights: Top experts break down real impact of FM’s big moves
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Last Updated: Feb 01, 2021, 02:55 PM IST
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Here is what experts have to say about the real impact of Nirmala Sitharaman s Budget announcement.
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NEW DELHI: As Finance Minister Nirmala Sitharaman unveiled the Union Budget for financial year 2020-21, there were many announcements that were easy to digest and then there were those whose ramifications were not clear immediately. At ETMarkets.com, we had a panel of experts from diverse fields analyzing the real impact of these moves real time.
Here is how they did the hair-splitting of the Budget: ....

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