Finance Act, 2017 has made it mandatory to enrol for Aadhaar to file tax returns in India or apply for a PAN or keep the existing PAN active effective July 1. This means that expatriates will have to obtain Aadhaar number to file ITR, reports Economic Times.
While the government wants to rollout GST from July 1, lack of clarity on tax rates has made it difficult for companies to set aside funds for future tax liabilities.
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!