28 August 2012
GM gets relief in tax liability case from HC Aug 27, 2012: General Motors (GM) India Limited, Indian subsidiary of US-based auto giant General Motors Corporation Group, has got relief from Gujarat High Court in connection with a tax liability case filed against it by the Income Tax (I-T) Department. A division bench of Justice V M Sahai and Justice N V Anjaria quashed notices issued to the company by I-T authorities ordering fresh assessment of its income tax return for assessment year 2006-07 a...
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28 August 2012
Functional Currency under IFRS and its Implementation By Sanjay Chauhan This article covers the ‘Functional Currency’ aspect differentiating with ‘Presentation Currency’ as laid in Ind AS 21 i.e. IAS 21, which is totally new concept when India converges to IFRS. Introduction India has laid down the convergence plan of ‘Indian Accounting Standards’ (AS) with ‘International Financial Reporting Standards’ i.e. IFRS in a phased manner. The first phase implementation was expected to begin from April...
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24 August 2012
COUNTRY SPECIFIC INDIA'S COMPREHENSIVE DOUBLE TAXATION AVOIDANCE AGREEMENTS 1 India & Armenia 2 India & Australia 3 India & Austria 4 India & Bangladesh 5 India & Belarus 6 India & Belgium 7 India & Botswana 8 India & Brazil 9 India & Bulgaria 10 India & Canada 11 India & China 12 India & Cyprus 13 India & Czech Republic 14 India & Denmark 15 India & Finland 16 India & France 17 India & Germany 18 India & Greece 19 India & Georgia 20 India & Hungary 21 India & Iceland 22 India & Israel 23 India...
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14 August 2012
FOREIGN MONEY TANGLE CAN BE RESOLVED…SOLUTION IS IN BUILT BY CA A. K. JAIN The problem of Indian money parked in foreign bank accounts is a subject.. As it appears, the government is already working on this issue and solutions are being discussed. But bilateral relations and international treaties are restraining the executives to increase the pace of their efforts. We hope, the government will augment its efforts in this direction and soon come out with its resolutions in the overall interest o...
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14 August 2012
CA A. K. JAIN Born in 1956, A. K. Jain is practicing as Chartered Accountant at New Delhi since 1984. He is actively associated with number of professional, social and religious institutions. He is also authored numerous articles on taxation, finance and other subjects of common interest. He has conducted several live Television Programmes on Indian Taxation System. He is regularly appearing in live discussions on Indian Budget as an expert with celebrated economists and seasoned politicians for...
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