GOVERNMENT REGULATORY AND COMPLIANCE
OECD BEPS Framework: Recent Development
Read about the latest developments in the OECD / G20 negotiations and the newly formulated framework for taxing the digital economy.
October 20, 2021
Read about the latest developments in the OECD / G20 negotiations and the newly formulated framework for taxing the digital economy.
The Bill proposes to amend the Act and abolish the retrospective tax on indirect transfer of Indian assets, if the transaction was undertaken before 28 May 2012.
This summarizes the key Notifications and Circulars issued by the CBDT, extending the due dates of various direct tax compliances under the Act:
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act
Read about the policy reforms India has embraced to “Honour the Honest” and to balance automation with compliance; making it the first nation on an international platform to set a unique practice of “Faceless Assessment Scheme.”