Nangia Advisors LLP – PERSONAL TAX – Ask THE EXPERT column by Suraj Nangia

Nangia Advisors LLP in a partnership with DNA newspaper  presents Ask THE EXPERT section on personal finance. In this segment, Our expert Suraj Nangia, Partner will respond to readers queries on weekly basis. Suraj Nangia, Partner answers the queries on personal tax for DNA readers  http://www.dnaindia.com/personal-finance/report-personal-tax-suraj-nangia-2625078

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Impact of US BEAT on the Indian IT sector

The Indian Information technology (IT) and business process management (BPM) industry as we all knew till date was highly dependent on U.S. corporations offshoring the work to be conducted from India. This was primarily owing to the fact that India offers a 25-30 per cent cost savings to the U.S. Corporations offshoring the work to them. The cost saving offered by Indian IT-BPM industry is not only attributable to the…

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Indian tax landscape changing for better

India is moving at a rapid pace on the path of economic growth and Indian tax landscape has witnessed multifarious changes in the recent past. Indian Government has been steadily working toward widening the tax base, addressing the menace of the parallel economy, improving the ease of doing business and strengthening the anti-abuse provisions. Past year was marked by some major reforms for multinationals viz. “One nation One Tax” –…

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Suraj Nangia, Partner features in Virtual Round Table Series Tax Working Group 2018 conducted by IR Global – UK

This Virtual Series provides an update on CRS implementation from a range of jurisdictions in which IR Global tax experts are currently operating. This discussion involves IR Global members from India, Spain, Luxembourg, New Zealand and Lebanon. The discussion touches on whether CRS has caused any conflict or tension during implementation, given issues such as the LuxLeaks Scandal and Lebanon’s entrenched banking secrecy and also whether CRS has affected advice…

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TAXATION ON BITCOINS

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…

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India 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.

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Topic 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…

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F1 Circuit—A Fixed Place PE! – Suraj Nangia

Concept of Permanent establishment (‘PE’) is an important subject for any company operating or planning to operate in another country, in order to determine whether the company’s activities in a country are taxable in that country. Determining whether a company has triggered a PE is seldom clear cut, since it is highly facts driven. Suraj Nangia, Partner with inputs from Mansi Chopra, Manager contributed an article on formula one ruling…

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Tax on offshore income for an Indivdual

In todays era – its very common for an individual to have dual set of earnings. He can be a resident of one country, but earning income from other countries in a particular financial year. Such a situation is an indicator of progress and increased opportunities for an individual. However, at the same time issues and complexities surrounding taxation of such income in home country of the individual or at…

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