22 January 2014
Wedding Woes By Narayan Jain A lavish function can stir the curiosity of the tax department. Narayan Jain tells what to do in such a situation In the recent past, the income tax department has become active about collecting information about expenses on marriages as well as other functions by invoking Section 133A of the income tax act. There has been a lot of controversy between the IT department and the persons incurring the expenses on the amount actually spent. Such enquiries also lead to in...
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11 January 2014
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New Singapore Law Discourages Flow of Foreign Workforce January 10th, 2014 Singapore may not be any more comfortable destination for employment of emigrant workers and expatriates. A new salary regulation for foreigners is announced. Now companies wishing to hire foreign workers will need to advertise for local employees. Indian business firms deputing employees from India will need to have a relook at their salary structures. Many corporate houses form India have business establishment in Singa...
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10 January 2014
Cyprus To Loose Tax Haven Status For Indians December 27th, 2013 - India after blacklisting Cyprus for not sharing information on bank account holders, is now going to withdraw the favourable tax treatment available to investors from the Cyprus under the bilateral tax treaty. India is looking to amend a clause in the tax treaty that offers benefits similar to India-Mauritius double taxation agreement - exemption from tax on capital gains and a lower rate of 10% tax on interest, royalties and fee...
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