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

Is higher service tax fuelling black money in the system?

April 26, 2016
[Author: Latha Venkatesh, Executive Editor, CNBC-TV18; Source: www.moneycontrol.com] One criticism of bankers and money market dealers of the Reserve Bank’s monetary policy conduct in the past year has been the rising liquidity deficit in the interbank market. Since December 2015, banks have been borrowing Rs 1.5-2.5 lakh crore from RBI
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Gujarat Budget 2016-17–VAT Amendments

April 13, 2016
[By Shaleen Shah (Partner) with Kirit Rana (Manager-VAT), VNCA] Gujarat Budget 2016-17 was passed by the State Assembly on 30-Mar-2016. The gist of VAT amendments enacted in the budget read with relevant notifications is as follows – INCREASE IN TAX RATES W.E.F. 1-APR-2016: 1. New Entry No.49C in Sch-II: Luxury
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CBDT suggests “Equalisation Levy” of 6-8% on B2B deals

March 22, 2016
A CBDT committee on taxation of e-commerce has suggested a "Equalisation Levy" of 6-8% for business-to-business deals with a view to tax digital transactions. Based on the recommendations of the committee, which had submitted its report to the government in February, Finance Minister Arun Jaitley in his Budget proposed an
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Taxman gets new tech tool to identify, kill duplicate PAN

March 22, 2016
After years of labour, the I-T department has finally got a new technology tool to check duplicate PAN cards, allowing them to ‘kill’ it. An ambitious electronic platform called the Income Tax Business Application-Permanent Account Number (ITBA-PAN) has been operationalised. It will help the taxman and PAN issuing intermediaries identify
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High Court Shocked At Loot Of Taxpayers Funds By Corrupt Babus. Calls For Non-Cooperation Movement By Taxpayers To Eradicate “Hydra Headed Monster” Of Corruption

February 17, 2016
[Source: itatonline.org] Hon’ble Justice A. B. Chaudhari of the Nagpur Bench of the Bombay High Court has passed severe strictures against the Government for turning a blind eye to the rampant corruption in the Country. The learned Judge lamented that “It shocks one and all as to the manner in
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