Shaleen Shah

Equalisation Levy is going to create a huge problem for startups

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January 2, 2017
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[Source: www.forbesindia.com] Tax lawyer Nishith Desai believes the Equalisation Levy, also known as ‘Google Tax’, will have important repercussions for the Indian startup ecosystem As part of the continuing opposition from industry bodies to the ‘Equalisation Levy’ that came into effect earlier this year, the Internet and Mobile Association of India (IAMAI) and law firm Nishith Desai Associates, in a

Procedure for all remittances to non-residents w.e.f. 1-Jul-09

June 30, 2009
Section 195 of the Income-tax Act, 1961 mandates deduction of income tax from payments made or credit given to non-residents at the rates in force. For any remittance to non-resident, except in the case of certain personal remittances which have been specifically exempted by RBI, the following revised procedure will
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New Scheme of TDS/TCS deferred

June 30, 2009
In a Press Release dtd.30-Jun-09, CBDT has indefinitely deferred the implementation of the new Rules for TDS/TCS that were introduced vide Notification No.31/2009 dtd.25-Mar-09. Resultantly – Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or any other earlier AY, may continue to file their returns without mentioning
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Clarity on LLP tax issue only next year

June 16, 2009
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Corporate Affairs Minister Salman Khursheed has said, contrary to expectation, the Budget will not address the taxation issue related to limited liability partnerships (LLPs). The issue will be clarified only next year, he added. “It is too short a time for us to sort out the issue, but it is
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ANALYSIS OF NEW SCHEME FOR TDS / TCS

June 5, 2009
(as on 5-Jun-2009) Background Income Tax Department has introduced a new scheme for centralized processing of annual income-tax returns which envisages no interface with the tax payer and processing of returns to be done in an automated jurisdiction-less manner. Implementation of such scheme requires having a robust system for information
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