Bitcoins and all other crypto currencies have taken the front page of newspapers in the recent past. Bitcoins or cryptocurrencies are new buzzwords both for investors and tax authorities. While investors are fascinated by an exponential increase in its valuation over the past few years and find it as an alternative investment vehicle for multiplying their investments, profits from investments made in Bitcoins have attracted the attention of tax authorities…
Read More“YOUR QUERIES” section in Financial Express by Suraj Nangia
Suraj Nangia, Partner shares his views on the queries raised by Financial Express readers. Income tax returns (ITR) filing: What is tax liability on sale of housing society flat http://www.financialexpress.com/money/income-tax-returns-itr-filing-what-is-tax-liability-on-sale-of-housing-society-flat/969913/
Read MoreMobilisation/Demobilisation Charges Form Part of ‘Receipts’ Under Section 44BB – Suraj Nangia
Suraj Nangia, Partner with inputs from Mansi Chopra, Manager – Direct Taxation contributed an article on Mobilisation/Demobilisation charges from part of “receipts” under section 44BB for Corporate Professionals Today (Taxmann).
Read MoreJoint development agreement and what triggers income tax liability- Suraj Nangia
Joint Development Agreements (JDA) are prevalent in India as they are beneficial both for the owner and the developer. The owner gets a better built house and the developer gets his remuneration either in the form of a part of the building or money. Under a typical joint development agreement, land owner contributes his land and enters into an arrangement with the developer to develop and construct a real estate…
Read MoreOverseas property is more lucrative- Suraj Nangia
What would you choose if you have an option to buy a house in India worth Rs 1 crore that gets you an annual rent of 2-3 per cent of the property value or one in Manchester that earns a rent of 8-10 per cent? Suraj Nangia, Partner shares his views on Overseas property is more lucrative for Business Standard.
Read MoreIndia Top Court: Auxiliary Functions Don’t Decide Tax Residency- Suraj Nangia
India’s top court passed a highly significant judgment on the taxability of outsourcing arrangements between Indian affiliates and their global counterparts by validating that a subsidiary performing backend operations in India doesn’t constitute a permanent establishment. Suraj Nangia, Partner shares his views on aformentioned story for Bloomberg-BNA.
Read MoreYour Queries section in Financial Express by Suraj Nangia
Nangia & Co LLP has tie-up with Financial Express for readers queries section on personal finance. In this segment, Our expert Suraj Nangia, Partner will respond to readers queries on weekly or fortnightly basis. Suraj Nangia, Partner has responded to readers queries for Financial Express today.
Read MoreTopic Routine functions won’t make MNCs liable to pay Indian tax
India’s apex direct taxes body has clarified that routine administrative functions carried out from a regional outfit of a multinational company, including handling of payroll, accounting and human resources, will not make it liable to tax on income earned outside the country. The move addresses a key concern of multinationals. There had been concerns that multinationals having regional offices in India where employees handle various administrative functions for multiple countries…
Read MoreRestriction on Number of Layers of Subsidiaries under Companies Act, 2013
In order to check misuse of multiple layers of subsidiaries for diversion of funds and siphoning off funds, the Companies Act, 2013 (2013 Act): a) Prohibits prescribed holding companies from having layers of subsidiaries beyond prescribed numbers b) Requires that no investments can be made through more than two layers of investment companies. These provisions were sought to be omitted from the 2013 Act on the recommendation of the Companies…
Read MoreStart and Get Up – Startups
When we dream about an idea then it’s a time to start up and living that dream. The Government has launched its flagship program ‘Startup India” in January 2016 an initiative which intends to fulfil millions such dreams of young entrepreneurs. It aimed at promoting entrepreneurship by nurturing, mentoring and facilitating young entrepreneurs. Today people have multiple innovative ideas but same needs to complimented with right infrastructure, business plans and…
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