In an interview to CNBC-TV18, Sanjay Tolia, Partner Tax at PwC, Samir Kanabar, Partner at EY, Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth and Nitin Jain, CEO, Global Asset Management at Edelweiss shared their views on what does this Budget 2017 mean for your personal wealth, your taxes and your life as a common citizen of India.
In an interview to CNBC-TV18‘s Surabhi Upadhyay, Sanjay Tolia, Partner Tax at PwC, Samir Kanabar, Partner at EY, Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth and Nitin Jain, CEO, Global Asset Management at Edelweiss shared their views on what does this Budget mean for your personal wealth, taxes and your life as a common citizen of India.
The court held that there was no taxable income arising out of the transaction. The quantum of tax demand by the Indian authorities stood at Rs 3200 crore in fiscal year 2010.
How can Indian companies avoid spending all their profits in court? Sanjay Tolia of PwC and S Gayathri of Essar hopefully have that answer!
According to experts, revenue's aggression in the case of transfer pricing is due to a deteriorating macro environment i.e. slowing growth, declining tax revenues and a widening deficit - a classic case of the tail wagging the dog!
It's a Rs 50,000-crore storm in the transfer pricing tea cup, and several companies in Mumbai are facing the worst brunt! Vodafone is but one of the many companies faced with several thousand crore rupee adjustments.