Sudin Sabnis and Suraj Nangia of Nangia Andersen LLP provide a perspective on the recent Concentrix decision by the Delhi High Court on the applicability of Most Favored Nation clause benefits in respect of tax treaties signed by India with non-OECD countries which subsequently became OECD members. https://news.bloombergtax.com/daily-tax-report-international/common-interpretation-is-it-really-that-common-the-indian-context
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 MoreUNION BUDGET 2021
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