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Shruti K P
india-budget-2017-direct-tax-laws-marketexpress-in

India: Budget 2017 and Direct Tax

The Finance Minister’s speech in the Lok Sabha this morning did not indicate too many changes to the direct tax laws. However, as always, the devil lies in the detail and the Finance Bill, 2017...

pe-company-permanent-establishment-exposure-marketexpress-in

PE & Company : Shifting standards of Permanent Establishment exposure

A luxury smart watch company based in Switzerland (“Company”) decides to establish a dedicated warehouse in India through a third party logistics provider (“3PLP”). The Company only develops high end applications to run the product,...

To tax, or not to tax severance payments

Mr. X was employed with a leading global manufacturing company Global Inc, in their Indian subsidiary, Global India. Due to global restructuring, Global Inc decided to close its operations in India, resulting in the termination...

gift-tax-income-tax-act-marketexpress-in

Gift Tax: When receiving a gift becomes taxing…

‘ What is bought is cheaper than a gift ’, goes a Portuguese proverb. In the realm of Indian taxation, nothing could be further from the truth; for under the Income Tax Act, 1961 (“IT...

fosters-india-it-act-marketexpress-in

Fosters case: The perfect brew for the new amendment to IT Act

The Indian Income Tax Act, 1961 has a dubious distinction – it is perhaps the most important legislation in the country that gets amended considerably, every single year. The last Budget for example, saw nearly...

Equalisation-Levy-Indian-tax-marketexpress-in

Equalisation Levy seeks to cast Indian tax net wider

Budget 2016 introduced a new tax called Equalisation Levy (“EL”), aimed at taxing online transactions. EL was originally mooted by the OECD in Base Erosion and Profit Shifting (BEPS) Project Final Report on Action 1...

patent-box-made-in-india-marketexpress-in

Patent Box – Made in India

In a bid to encourage more companies retain and commercialise their patents in India, the Finance Act, 2016 includes a new scheme of taxation for incomes from patents.   We are discussing  the proposed “patent...

DTAA-India-Mauritius-tax-treaty-marketexpress-in

DTAA : India-Mauritius tax treaty amended

Mauritius has long been the favoured route for investment into India, because of the beneficial capital gains tax treatment offered under the India-Mauritius Double Tax Avoidance Agreement (“DTAA”). In a far-reaching change that will perhaps...