If this draft notice holds up, the HFT trader may see additional tax out of upto Rs 7,000 crore, say tax experts.
Tax uncertainty on trademark transfers continues to create confusion amongst foreign companies
BOI has stated that it is currently in the process of lodging an appeal with the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) against the order.
A notice from the I-T Department doesn't necessarily mean you've done something wrong. It could be a routine communication but it's essential to act promptly.