Nishith Desai, founder of Nishith Desai Associates has three expectations. “One, the government should deal with corruption. Two, give me the true state of the financials affairs of the nation. Three, appoint law commission with independent professionals as well as the tax department people and the global renowned expert."
The Union Budget is just around the corner. Experts discuss taxes as part of Budget agenda 2012.
Form over substance, no lifting the corporate veil, legal owner is the relevant owner, a Mauritius Tax Residency Certificate is sufficient evidence of beneficial ownership- these were all well-accepted tax concepts endorsed by Circular 789 and the Supreme Court’s judgment in the Azadi Bachao Andolan.