Budget Synopsis by Blue Consulting (March 19th – 2012)
General Anti-Avoidance Rules (GAAR) introduced whereby an impermissible avoidance arrangement may be disregarded/ tax benefits denied. Threshold limit for tax audit increased from Rs. 60 lacs to Rs. 100 lacs. Download Now
Budget 2012- Analysis of Service Tax provisions by BC (23rd March 2012)
Approach of applicability of service tax on services changed from Positive List to Negative List. Rate of Service tax is being increased from 10% to 12%. Services declared to be taxable to avoid confusion. Changes in abatements rate. Service Recipient... Read More →
Budget 2012- Analysis of Income Tax provisions by BC (22nd March 2012)
Sunset clause for power sector extended. Indirect transfer of assets in India to be taxable. Definition of Royalty enhanced through clarificatory amendment. Advance Pricing Agreement (APA) introduced. New section for TDS on transfer of immovable property. Download Now