Category: Tax

Constitutional Law, Tax

Place of Effective Management: A Solution Rigged with Theoretical Problems

In this post, the author highlights the introduction of the Place of Effective Management (POEM) test in India as a means to determine corporate tax residency and addresses the theoretical issues surrounding its application. The author argues that the lack of clarity and adequate guidance in determining POEM leads to unpredictability, uncertainty, and arbitrariness, which violates the principles of Article 14 of the Indian Constitution. The author suggests alternatives, such as the economic nexus test or a hierarchy of tests, to address the shortcomings of the POEM test and ensure fairness and predictability in determining corporate tax residency. Continue reading Place of Effective Management: A Solution Rigged with Theoretical Problems

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Tax

Supreme Court Settles Jurisdictional Conundrum for Appeals from ITAT Orders

In this post, the author analyses a recent judgment by the Supreme Court in which the bench resolved the dispute regarding the appellate jurisdiction of the High Courts under Section 260A of the Income Tax Act, 1961. Another issue that is addressed is the jurisdiction of the High Court following an administrative judgement transferring a case under Section 127 of the Act from one Assessing Authority to another Assessing Officer located in a different State. Continue reading Supreme Court Settles Jurisdictional Conundrum for Appeals from ITAT Orders

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Finance & Banking, Information Technology, Posts, Public Policy, Securities, Tax

Cryptocurrency in India: To ban or not to ban

By: Aman Kumar Yadav Introduction Cryptocurrencies are digital representations of value that can be stored and transferred digitally. Simply put, it is a type of digital currency or a medium of exchange just like the US dollar. They function autonomously, unencumbered by traditional banking and government oversight. Countries have repeatedly attempted to implement measures to regulate Cryptocurrency or ban it altogether. This article analyzes India’s … Continue reading Cryptocurrency in India: To ban or not to ban

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Posts, Tax

GST: One Step Towards Simplifying The Tax System Of India

By: Ayushi Raghuwanshi INTRODUCTION The passing of the Goods & Services Tax bill has created history in the Indian taxation system. It is a significant breakthrough in the taxation system of India, being the single biggest tax reform. Change is fundamental to growth; the complexities involved in the indirect taxes both at the Central and State level demanded change which has now been brought about … Continue reading GST: One Step Towards Simplifying The Tax System Of India

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Posts, Tax

Composition Scheme Under Goods And Service Tax: Testing The Utility

By: Tushar Behl Introduction Being one of the most innovative tax reforms, the “Goods and Services Tax” (hereinafter GST) contemplates on putting a stop to all other indirect tax procedures and authorities in order to bring uniformity and flexibility in the taxation policy. In order to curb the struggle with regard to compliance with statutory provisions and in support of its procedural simplicity, the Central … Continue reading Composition Scheme Under Goods And Service Tax: Testing The Utility

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Posts, Tax

GST and the ‘Manufacturing’ Sector – The Challenges Ahead

By: Aradhana & Abhishek Kumar Introduction The manufacturing sector of a nation serves as a base for its economy. The Union budget of 2015 focused towards the expansion of this very sector by means of various incentives and concessions but the important question, in this regard, is whether such steps on part of the Union Government could harness the “real growth” of this sector. The … Continue reading GST and the ‘Manufacturing’ Sector – The Challenges Ahead

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International Law, Posts, Tax

GAAR: The Way Ahead

By: Suhas Sagar The field of taxation has always been witness to the eternal cat-and-mouse game between taxpayers and tax authorities. Nowhere is this contest more pronounced than in India. As taxpayers keep devising newer ways of mitigating their tax liability, the tax authorities respond with their own weapons – retrospective amendments and high pitched tax assessments displaying a rather adversarial state of mind. The … Continue reading GAAR: The Way Ahead

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