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Finance Act, 2021: Amendment to Erase Goodwill from Block!

CA. Anand Eriwal

Several amendments were proposed by Finance Bill 2021 (“FB 2021”). One of the most significant proposal that was introduced by FB 2021 was relating to non-allowability of...

Cheers for software suppliers to India - The Supreme Court rules that payment for software is not royalty

Daksha Baxi, Head International Taxation, Cyril Amarchand Mangaldas

Payments made to non-residents of India for supply of software have been a subject matter of controversy since long. There had been conflicting decisions on the...

TREATMENT OF ESOPS IN MERGERS AND ACQUISITIONS

Aditya Narwekar, Partner – Deals and Meghana Goud, Associate Director – Deals, PwC India

The article covers some of the common ways in which the companies treat the on-going ESOP plans of an acquirer as well the target companies at the time of a corporate...

BUDGET 2021: WHAT CHANGES AND WHAT REMAINS THE SAME

CA Maneet Pal, Partner, I.P. Pasricha & Co

The 2021 budget is a forward-looking budget with stress on development and growth. It has something for everybody. From simplifying indirect tax regime to attempting to...

Key Amendments relating to Return of Income and Assessment Procedure

CA Jignesh Parikh

Finance Bill 2021 proposes several amendments whereby time limits to file return of income and revised / belated return has been reduced. The time limit to issue notice u/s...

Key Amendments with respect to TDS, TCS and Advance Tax

CA Jignesh Parikh

Till now we had approximately 3 dozen provisions relating to Deduction of Tax at source now it’s time to have few more. The assessee have been sufficiently confused by the...

Key Amendments relating to Tax Incentives and Real Estate

CA Jignesh Parikh

On one end the Finance Bill, 2021 has brought down various tax planning to earth by various amendments then on the other end the Finance Bill also proposes to ensure that...

Key Amendments relating to Trusts

CA Jignesh Parikh

When law is applied ignoring the logic even logic has to take form of Law. Finance Bill 2021 proposes to amend the provisions relating to assessment of trust to curb the...

Applicability of TCS on sale of securities and consequential impact on deals-additional cost

Shripal Lakdawala (Partner), Janak Thakkar (Director) and Rahul Khaitan (Manager), Deloitte India

Considering the population of India, the most effective and efficient way for the government to collect taxes seems to be through Tax Deducted at Source ("TDS") and Tax...

Key Amendments relating to Victory through D/L (Duckworth/Lewis) Method

CA Jignesh Parikh

Government uses master stoke and brings down all tax planning which have been declared as valid by various High Courts and Supreme Courts and ensures that law is applied in...