Pwc Alert

Report of the SCF on DTC 2010

This PwC Alert contains the key provisions of the Direct Taxes Code relevant for both residents and non-residents.

Compounding of contraventions under FEMA

This PwC Alert summarizes the recent Reserve Bank of India (RBI) Circular which has delegated powers to its Regional Offices for compounding certain contraventions in respect of foreign direct investments.

TPO can't take cognisance suo moto of any Int'l Transaction

This PwC Alert summarizes the Delhi High Court Ruling in the recently held case of Amadeus India. The High Court held that the transfer pricing officer cannot take cognisance suo motoof any international transaction for adjustment in the arm’s length price under section 92C of the Income-tax Act, 1961 (the Act).

Jurisdiction of AO & TPO Laid Down

This PwC Alert summarizes the Gujarat High Court order in the case of Veer Gems. The Gujarat High Court has recently ruled on the stage when it can be conclusively held that there had been an international transaction between the taxpayer and the associated enterprise.

Company Law Settlement Scheme, 2011

This PwC alert is on the extension of the CLSS Scheme. The Ministry of Corporate Affairs has extended the Company Law Settlement Scheme, 2011 (“CLSS”) upto 15th December 2011.

RBI's Draft Norms on New Banking Licences

This PwC alert summarizes the draft guidelines for new banking licence in the private sector.