This article summarizes the key amendments proposed to the existing Double Tax Avoidance Agreement (DTAA) entered into between India and Singapore in 1994 (1994 DTAA) as amended by a protocol dated 18 July 2005 (2005 Protocol) and the second protocol dated 1 September 2011. The third protocol to amend the 1994 DTAA was signed on 30 December 2016 (the 2016 Protocol) followed by official announcements made by the Government of…
Read MoreCBDT issues clarification on indirect transfer provisions
Supreme Court in case of Vodafone India held that gains arising to a foreign company from transfer of shares of a foreign holding company, which indirectly held equity interest in an Indian operating company would not be taxable in India. Pursuant to the Vodafone ruling, indirect transfer provisions were introduced vide the Finance Act, 2012 by amending section 9(1)(i) of the Act with retrospective effect from 1 April 1961. Pursuant…
Read MoreUNION BUDGET 2021
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