Monday, 3 September 2012

The Finance Ministry has expanded the scope of the terms of reference of Shome Committee on General Anti-tax Avoidance Rules to include non-resident tax payers.






The Finance Ministry has expanded the scope of the terms of reference of Shome Committee on General Anti-tax Avoidance Rules to include non-resident tax payers.

On August 6, the Finance Ministry had asked this committee to examine the applicability of the amendment on taxation of non-resident transfer of assets where the underlying asset is in India, in the context of FIIs operating in India purely for portfolio investment.

It has now been decided to expand the scope of the terms of reference of the Committee to include all non-resident tax payers instead of only FIIs, the Finance Ministry said in a statement here on Saturday.






GAAR panel to cover all non-residents tax payers
Indian Express
The government today expanded the scope of the expert committee on General Anti-Avoidance Rules (GAAR) to include all non-resident tax payers, even as the Committee submitted its draft report to the Ministry. The announcement to increase the scope of ...
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NRIs hold protest to demand postal ballot
The Hindu
A large group of Non-Resident Indians (NRIs) on Friday held a protest outside the Indian High Commission here to demand the right to vote in Indian elections without having to travel to their natives homes. Protesters, mobilised by the campaign group ...
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The Hindu
Govt expands scope of GAAR panel to cover all non-resident taxpayers
Hindu Business Line
... August 6, the Finance Ministry had asked this committee to examine the applicability of the amendment on taxation of non-resident transfer of assets where the underlying asset is in India, in the context of FIIs operating in India purely for ...
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Non-resident firms may be impacted by AAR ruling
Hindu Business Line
It contended that since it was tax resident of Switzerland, related incomes from professional services rendered primarily outside India would be exempt from tax in India since there was no permanent establishment here. The AAR considered the fact that ...
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NRI dollar inflow continues to surge
VC Circle
The dollar inflow from Non-Resident Indians (NRIs) to their home country surged during the April-June quarter in 2012. The Non-Resident External (NRE) rupee account also witnessed a constant inflow of dollar deposits which pushed up the NRI deposit ...
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VC Circle
Student heading to the US? 3 tax rules to keep in mind
Times of India
Taxation in US: "As a student on an F1 visa, you are considered to be a non-resident of the US for the first 5 calendar years that you are on this visa," explains Roy Vargis an Illinois based CPA and promoter of www. ... Taxation in India: "Here it is ...
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